Your Local Update on the El Dorado Hills Real Estate Market


April 2019

2019 El dorado Hills Real Estate Market Trends
Is Spring Finally Here?

Will The Spring Housing Market Please Stand Up?

Just a month ago we were showing you how when the sun come out during the first half of March the local housing market sprouted like all those weeds in garden. Then, the rains came back… and home buying slowed again considerably.

The question now is whether the window has closed for a robust Spring housing market, or has it just beed delayed? With warm and sunny weather forecast for the foreseeable future, we are about to find out!

El Dorado Hills Real Estate Market Trends April 2019

After a strong start, March homes sales cooled considerable compared to 2018. Considering that the economy has been strong and interest rates are near historic lows, we expect to see a much stronger April and May.

March Homes Sales in EDH Were Down 23.8% From march 2018
EDH Homes Took 14.7% Longer to Sell in March vs. March 2018
Homes Sold, On Average, For 6.8% More in March Than One Year Ago
Inventory of Homes For Sale Remains Very Low

One issue we see as we tour for sale homes in the area is a fewer number of “move-in ready” homes. We can’t emphasize enough the need to properly prepare your home for sale! What does that mean?

At minimum, home sellers should:

  • De-clutter every room.
  • Make sure the house is spotlessly clean.
  • Touch up paint, or even re-paint if necessary.
  • Hide unsightly things like laundry baskets, garbage cans, vacuums, etc.
  • Take down as many “personal effects” as possible (pictures, things hanging on the fridge, etc.).
  • Make sure all light bulbs are working (for brightness).
  • Make sure the yard is in tip-top condition.

ULTIMATE HOME SELLERS GUIDE EL DORADO HILLS

Learn More!
Download The Ultimate Home Buyer’s Guide

We created this FREE guide to help you along the way. Inside, you will find everything you need to help you sell yor home quickly and for the most money!

Do you have questions about selling your home? About the status of the local real estate market? We are happy to answer any questions you have! Give us a call or send us a message any time!


March 2019

Spring Has Sprung in the El Dorado Hills Real Estate Market

If you were wondering if the Spring market would ever heat up, all indications are YES!

When the sun come out earlier this month, so did the buyers! There is pent up demand for move-in ready homes, especially at the lower price points below $750,000.

We aren’t yet predicting a repeat of Spring 2018 when multiple offers were almost the norm, but that doesn’t mean a well-priced, well prepared home won’t get multiple offers (in fact, we did on a listing just this past week!).

We admit to being a bit surprised to see the March numbers through the 19th – sales were up 79% compared to a month earlier! The number of homes that went into contract were also up 49% from February!

What happened?

Buyers, particularly in the segments below $750,000 where we are seeing the majority of activity, have been frustrated with the small number of homes that meet their needs and expectations. They are telling us that they can’t find updated homes that are move-in ready, so when one comes on the market that meets their needs, they are pouncing!

This doesn’t mean they are buying just anything!

In fact, we are seeing just the opposite. Buyers are being patient, waiting for the home that they can comfortably move into right away. They aren’t looking to invest in updating the master bath or kitchen. They want fresh paint, nice landscaping, and a good location. To be truthful, we were a bit surprised at the lists of wants we see from buyers right now. Many have been looking all winter and have been disappointed with many of the offerings available. They are ready to buy!

Buyers won’t overpay

As much as buyers want a move-in ready home, they also are budget conscious. Most of the buyers we’re seeing in the lower price points are families with younger children. They are working to balance purchasing a new home with all the other expenses involved with being young parents. While we haven’t found that buyers are making lowball offers, we also aren’t seeing them willing to “pay whatever it takes.” Price and prepare well to sell quickly!

Are you a buyer?

Have your ducks in a row before you make an offer. If you fall in love with a home that has just hit the market, expect that there are other families equally excited about that home. To make your offer as strong as possible, do the following:

  • Get pre-approved for a loan. (If you don’t have a lender, we’d be happy to make introduction to one that fits your needs).
  • If the home just hit the market, and you want it, don’t lowball your offer. Make your first offer as strong as you can. Don’t lose your dream home over $5,000 if you would have been willing to pay $5,000 more!
  • There are others buyers just like you out there. If you see a home come on the market that looks like a good candidate, have your agent get you in for a showing as soon as possible! (We often know about homes before they hit the market, giving our buyers a further leg up!)
  • If possible, don’t make your offer contingent on selling your current home. Of course that isn’t always possible. There are creative work-arounds, however. Talk to us or your lender about ideas that have worked for others.
  • If your offer must be contingent on the sale of you current home, have your home already on the market! Sellers are not likely to be willing to take their home off the market for a buyer whose home is not already for sale. If your home sells before you find a replacement, having the money ready while you rent for a few months can put you in a much a stronger buying position.
Ultimate Home Buyers Guide

Learn More!
Download The Ultimate Home Buyer’s Guide

We created this FREE guide to help you along the way. Inside, you will find everything you need to help you find and purchase your dream home!

We are always happy to answer any questions you have whether buying, selling, or are just wanting to be informed! Give us a call or drop us a line!

Get our newsletter to have these updates sent straight to your inbox

Subscribe HERE

February 2019

What will the Spring El Dorado Hills Real Estate Market Bring?

One thing we can assure you, it will not be a repeat of Spring 2018!

The El Dorado Hills real estate market continues to shift away from the heavily tilted sellers’ market we experienced last year towards a more balanced market.

By no means is the sky falling. Adjust expectations appropriately and buyers and sellers will continue to reap the benefits of a healthy real estate market.

el dorado hills real estate trends january 2019

The year is starting off with very healthy sales, particularly at the upper end of the market for homes that are well-prepared and correctly priced. January saw sales of homes over $1M match 2018 numbers with 5 closed sales and the number of $1M+ homes that went into contract in January jumped to 9, 200% above January 2018.

Inventory at the high end also jumped. January saw 40 $1M+ homes on the market. The higher sales balanced out the higher inventory leaving us with the same 8 months of inventory as in January 2018.

el dorado hills real estate trends inventory above 1m
8 months of $1M+ inventory matches 2018 numbers

The good news is that well-prepared, well-priced, well-marketed homes are at the higher end are moving. The tougher news is that if you are a seller in that segment, you can expect there to be more competition this year. It’s imperative that luxury homes shine if they are going to sell quickly!


Get our newsletter to have these updates sent straight to your inbox

Subscribe HERE

Below $1M is where we start to evidence of shifting market.

January sales below $1M were off by 25% with 33 sales compared to 2018’s 44. Pending sales faired better, down only 6.3% with 43 homes going into contract in January. At the same time inventory in the under $1M segment increased by 7.3%.

A year ago there was 1.9 months of inventory under $1M, January say that number spike 50% to 2.7 months. This is the highest level of inventory we’ve seen since 2017.

el dorado hills real estate trends inventory below 1m
Rule of thumb, inventory below 3 months represents a sellers market. Jan 2019 showed 2.7 months of inventory showing a shift towards a more balanced market.

On the flip side, buyers are in a stronger position than in quite some time. With increasing inventory and increasing competition among sellers it is in buyers’ interest to get shopping!


Get our newsletter to have these updates sent straight to your inbox

Subscribe HERE

January 2019

What a Difference a Year Makes!

A year ago we were still wondering if the strength building in the lower price points in El Dorado Hills was going to transfer into the higher end of the market. We had just begun to see signs that it would. At the same time anything priced under $650,000 had buyers lining up

A year later the higher end of the market is the driver while the lower end has slowed considerably.

What changed?

For one thing, the stock market did. A year ago the Dow Jones Industrial Index was enjoying an annual gain of about 30% and was sitting at 26,150. Wild swings down, up, then down again since then have the Dow at 24,065 as of this writing. Up off the lowest point and still unpredictable. Many lower-end buyers were feeling flush and optimistic while the market was booming and are considerably more concerned as when bounces up and down.

For another, mortgage rates are up from about 4% to about 4.4%. While incredibly low historically and lower than they were much of the second half of 2018, the 10% increase is significant for buyers at the lower end of the market.

Current events also can’t be discounted when evaluating why more folks, especially at the lower end, are being cautious. When people are unsure what the future holds they tend to sit on their hands waiting for stability.

So what now?

We are continuing to see strong activity in the higher end, from $1,000,000 to about $1,600,000. Sales above $1,000,000 were up 267% in December compared to December a year ago.

Sales Over $1M Were up 267% YoY in December 2018

A well-prepared, well-priced, well-marketed home is going to generate interest. However, don’t count on setting a price record for your neighborhood. Price per foot in this segment was off 17% in December.

Price Per Foot for Homes Over $1M Was Down 17% in December from December 2017

We expect to see a healthy Spring real estate market, one that is more balanced between buyers and sellers than last year. Barring changes, we don’t expect to see the same number of multiple bids on lower priced homes as we had last year. Buyers are looking for turnkey properties that match the values they are seeing for comparable homes.

We are advising sellers to get their home in tip-top shape and price where recent sales can justify the purchase. Last year we advised getting your home on the market before the Spring rush and we are advising the same this year with perhaps a bit less urgency.

We are advising buyers that this is as a good a time to buy as we’ve seen in quite some time. Mortgage rates have backed down and competition among buyers is less fierce than it was a year ago.

While we can’t predict what the coming days, weeks and months will bring or where prices go from here. We have seen nothing that indicates we’re looking at a market crash. The balanced market we’re seeing is a healthy market for buyers and sellers.

Questions? Want to talk further? Let us know!

theyoffies@yoffierealestate.com or Phone/Text: 916.941.6566


December 2018

The NEW El Dorado Hills Real Estate Market is Here

The real estate market we experienced last Spring where every home listed had buyers waiting is over. The difference between the market last March and today is glaring.

We have entered a new real estate market in El Dorado Hills

The NEW El Dorado Hills Real Estate Market

Last March the market could not be any hotter. Sales were up 43% compared to the previous March and pending sales were up 25%.  Sellers were getting multiple offers and many were getting offers above asking price. A great time to be a seller. Perhaps not as good a time to be a buyer.

El Dorado Hills Real Estate Trends March 18 yoffier eal estate keller williams el dorado hills

November numbers show a completely different market. Now we see year over year sales and pending sales dropping in El Dorado Hills.

November 18 sales data keller williams el dorado hills
Across the El Dorado Hills Market, the sales trends have shifted downward

Where the lower priced home segment was driving the market last Spring, it is now the slower part of the market.

sales under 700k down nov 18 keller williams el dorado hills
Sales under $700,000 have fallen the fastest

Home sales between $700,000 and $1 million while starting to slip are showing strength in comparison to lower priced homes.

nov 18 700k-1M Keller Williams El Dorado Hills
Pending sales between $700,000 and $1 million are up 42%

In the $1 million+ luxury segment, which was lagging a year ago, we now see the greatest strength. Though the unit numbers are small, sales and pending sales were both strong in November.

1M plus Nov 18 Keller Williams El Dorado Hills
Pending sales doubled from November 2017

If you are considering buying or selling real estate in 2019, we’re sure these El Dorado Hills real estate trends will raise questions. We’d happy to talk to you about your specific needs and how you can use the changing market to your advantage! Call or text us any time! 916.941.6566

Yoffie real estate group keller williams realty el dorado hills header
Shannon Yoffie & Jon Yoffie, Yoffie Real Estate Group


November 2018

Can the national media really tell you what’s going with El Dorado Hills real estate?

Does the Sacramento Bee really dig into El Dorado Hills real estate trends and data?


Since, as the saying goes, all real estate is local, we keep you updated on the El Dorado Hills real estate trends.

Below is our most recent update from November, 2018.



Curious about trends in your neighborhood?

Want an idea of your home’s current market value?

While tools like Zillow are great for aggregating data, they really aren’t very good at getting to granular data on a street-by-street or home-by-home level. That’s where we come in!

Our local market knowledge allows us to share with you sales trends for your neighborhood and even your block. We also can evaluate the condition and amenities of your home in comparison with homes that have recently sold. With this data, we can provide you with a much more specific market valuation that you can get from one of the data aggregation sites.

Curious? Let’s chat!

Fill out the form below, email us at theyoffies@yoffierealestate.com, or phone or text us 916.941.6566!

Thank you, talk soon!
Firstname
Lastname
Phone
Email
Message
Best time to call
Please fill in all fields!
Request a call