Our Current El Dorado Hills Real Estate Market is… Tricky!
The data in the chart below tells us that El Dorado Hills is enjoying a “Seller’s Market.” With all that good information, as the song says, who am I to disagree? Instead, I’d like to dive a little deeper.
In El Dorado Hills, and in most places, the real estate market is a market of markets. The report below does a great job of looking at macro trends in El Dorado Hills. What it doesn’t show you is the different markets we are currently seeing at different price points and in different neighborhoods.
For instance, the chart below shows, among other things, that:
- The average home that sold in July was on the market for 66 days,
- Sold at 96% of original asking price
- The pace of sales represents 2.3 months of inventory
El Dorado Hills Real Estate Market – July 2017
All of that data definitely supports the idea that we’re in a Seller’s Market. Does that mean your home would benefit from that “Seller’s Market”? Not necessarily.
Let me share one example.
If we change the data to show only homes for sale at a price over $1 million, we see that:
- The average home that sold in that segment in July was on the market for 106 days
- Sold at 94% of original asking price,
- The pace of sales represents 10.8 months of inventory:
El Dorado Hills Real Estate Market – Homes Over $1 Million – July 2017
So, you’re probably asking, “What does this mean to me?” Great question!
It means that, in general, El Dorado Hills is continuing to enjoy a Seller’s Market. BUT, as it relates to your home, well, it depends. As I said at the top, the El Dorado Hills real estate market right now is tricky – or complicated. There are a multitude of factors that effect the value of your specific home. Location, condition, neighborhood, and general price point are just a few.
We’d be more than happy to talk to you about the value of your home in this market. If you’d like a detailed report of recent activity in your neighborhood and a general idea of your home’s value, click to get our FREE HOME VALUE REPORT.
If you would prefer a more specific evaluation, we would want to tour your home with you to learn about your home’s unique attributes. Interested? Let’s Talk!