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.