El Dorado Hills Real Estate Market Update
By Jim Barnes 5/16/2020
Below is a report from TrendGraphix who pulls their data directly for our regional MLS. I have also included a recent presentation from the California Association of Realtors regarding the impacts on COVAD-19 on the real estate market. If you don’t want to spend an hour watching it, here is what I got from it.
- Our real estate market is smaller but very active
- Buyers and sellers have a disconnect regarding perceived home values.
- Market data shows that pricing has remained stable despite the disruption in our economy. Check out the price per sq.ft. graphic.
- This is due to the fact that sellers have been reluctant to put their homes on the market resulting in an overall shortage of inventory which is keeping the supply and demand equation in balance.
- Buyers’ frame of reference seems to come from the 2008 collapse in real estate prices where we were flooded with distressed homes, short sales, and foreclosures.