El Dorado Hills Market Trends for June 2022
We saw a change in the El Dorado Hills real estate market for June. Although our Trendgraphix reports from MLS state that it is still a Seller's market, we are trending towards a neutral market. We saw a 50.5% increase in listings from the previous month (128% increase from this time last year) and a 25% decrease in sales from the previous month.
-Sold price per square foot is Neutral.
-The Days on Market Shows Neutral Trend.
-The Sold/Original List Price Ratio Falling. (Down 1% from May.)
-The Average For Sale Price is Depreciating. (Down 13.3% from May.)
-The Average Sold Price Neutral.
A Seller's market is considered anything less than 3 months of inventory. A Neutral market is considered 3-6 months of inventory. As of today (7/12) we have seen a 14.2% increase in inventory and a decrease of 10.5% in pending sales compared to June. MTD, sales are down 42.3%.
If you are a buyer who's been tired of the lack of inventory, this is a great time to buy before rates go higher. We don't anticipate a flood of homes coming; the loans that owners obtained for the past few years have been sustainable with low-interest rates. We are back to pre-pandemic inventory levels.
