After Being Slow and Steady For Quite Some Time, Are High End Home Sales Accelerating?
This month’s market data indicates homes over $750,000 are selling at the fastest clip we’ve seen in over five years!
Buyers are re-entering the market at the high end! If you’ve been waiting to put your home on the market, you need to take a look at these numbers! In El Dorado Hills, for homes over $750,000:
- Sales Oct 2017 vs Oct 2016: Up 89%
- Sales Oct 2017 vs Oct 2012: Up 113%
- Current Qtr vs. Same Qtr 1 Yr Ago: Up 60%
- Current Qtr vs. Same Qtr 4 Yrs Ago: Up 121%
Sales prices are just starting to reflect the increase in buyer demand In El Dorado Hills, for homes over $750,000:
- Avg. Sold Price Oct 2017 vs Oct 2016: Up 7.7%
- Avg. Sold Price Oct 2017 vs Oct 2012: Up 2.9%
- Avg. Sold Price Current Qtr vs. Same Qtr 1 Yr Ago: Up 2.4%
- Avg. Sales Price Current Qtr vs. Same Qtr 4 Yrs Ago: Up 1.2%
Historically Low Inventory of Homes Remains a Problem For Buyers
- Months of Inventory Oct 2017 vs Oct 2016: Down 50%
- Months of Inventory Oct 2017 vs Oct 2012: Down 8.9%
- Months of Inventory Current Qtr vs. Same Qtr 1 Yr Ago: Down 44.9%
- Months of Inventory Qtr vs. Same Qtr 4 Yrs Ago: Down 40%
So, What Does This Mean For Your Home? In general, the increase in high end homes sales is great news! It means move up buyers are getting active again and we are starting to see a greater influx of buyers from the Bay Area and other areas. On the other hand, while the market is starting to balance out between buyers and sellers, there are still more buyers than sellers locally. This means it might be easier selling your home than it is finding a replacement. We have a strategy to help if the fear of finding a home to buy is hindering you from selling!
Click Here To Check Out The Most Expensive Homes For Sale in EDH!!
Need more info? Ready to talk about buying or selling? We’re here to answer your questions! You can reach us via email, [email protected], or phone/text:916.941.6566. Or Contact us via the form below:
