In this Granite Bay Market Minute, Leah Brown looks across the lake at El Dorado Hills, one of the neighboring markets Granite Bay buyers and sellers watch most closely.
August median sale price: $920,000
The median single family sale price in El Dorado Hills was $920,000 in August, down 6.6% from $985,000 a year ago. Zoom out and the picture looks different: that is still 37.3% above August 2019, when the median sat just under $670,000.
Sales volume is holding steady, well below pre-pandemic levels
There were 55 closed sales this August, exactly matching last August. For comparison, August 2019 saw 100 closed sales and August 2020 saw 120. Volume has settled into a much quieter range.
Inventory and pace
As of September 4th, there were 188 homes actively for sale in El Dorado Hills and 58 in pending status. Cumulative days on market: 34 for homes that closed in August, 38 for pending homes, and 65 for the active listings still on the market.
What it means
Values remain well above where they were before the pandemic, but they are lower than last year. Buyers have more choices and the market is moving more slowly. For sellers, pricing, condition and presentation matter more than ever. For buyers, there is more opportunity than there has been in quite a while.
Questions about El Dorado Hills, Granite Bay, Folsom or Loomis? Reach Leah Brown at (916) 622-6316, DRE 02105850.
