EL DORADO HILLS REAL ESTATE MARKET UPDATE March 2019

By Jim Barnes and Karen Dancer
RE/MAX Gold

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MLS REPORT DATA REFLECTS ACTIVITY FOR SINGLE FAMILY HOMES 3/7/2019

PRICED UNDER $1,100,000
By Jim Barnes and Karen Dancer

Buyer intensity is returning to the El Dorado Hills real estate market after a slow start in 2019. So far sales activity is tracking along the normal seasonal trends; however, pending sales are down 19.4% year over year and homes are staying on the market a bit longer on average.

Pending sales are the most useful measurement of current market activity.

As of today, the percentage of pending sales to unsold inventory stands at 78% which indicates strong demand for homes in El Dorado Hills priced under $1.1M. The percentage of single level homes going into contract verses unsold inventory is 106%.

Serrano sales activity is now tracking only slightly behind the rest of the local market with a 69% pending to unsold ratio.

FEBRUARY REAL ESTATE MARKET RECAP – El Dorado Hills

The number of for sale listings was up 1.2% from one year earlier and down 2.3% from the previous month. The number of sold listings decreased 15.4% year over year and dropped 2.9% month over month. The number of under contract listings was up 48.7% compared to the previous
month and down 19.4% compared to last year. The Months of Inventory based on Closed Sales is 2.6, up 18.4% of the prior year.
The Average Sold Price per Square Footage was up 2.5% compared to the previous month and up 7% compared to last year. The Median Sold Price increased by
0.6% from last month. The Average Sold Price also decreased by 3.4% from last month. Based on the six-month trend, the Average Sold Price trend is “Neutral,” and the Median Sold Price trend is “Neutral.”
The Average Days on Market showed an upward trend, a decrease of 4.5% compared to the previous year. The ratio of Sold Price vs. Original List Price is 99%, an increase of 2.1% compared to last year.

This graph shows the relationship between pending sales and unsold inventory in El Dorado Hills. While we are down about 20% in homes going into contract compared to the same time last year, the data still shows a very healthy buyer demand trendline.

Active to pending

Average time on the market shows how long the average listing stays on the market before going into escrow.

ALL PRICE SEGMENTSAverage Days on Market
El Dorado Hills All listings
UNSOLD13766
PENDING8547
Absorption rate62%
SERRANO
UNSOLD5667
PENDING2946
Absorption rate52%
El Dorado Hills EXCLUDE SERRANO
UNSOLD6066
PENDING4560
Absorption rate75%
UNDER $1,100,000
El Dorado Hills ALL
UNSOLD9257
PENDING7440
Absorption rate80%
SERRANO
UNSOLD3252
PENDING2343
Absorption rate72%
El Dorado Hills EXCLUDE SERRANO
UNSOLD5957
PENDING4629
Absorption rate78%

MLS data updated 3/10/2019