As mentioned in earlier posts, El Dorado Hills does not appear to be holding up near as well as Folsom. I'm sure the difference in months inventory reported yesterday has a lot to do with it. Folsom is still well below 6 months inventory while EDH is significantly above it.
Folsom - April median home $$ is down 14% from its peak. April price per square foot is down 11% from its peak.
El Dorado Hills - April median home $$ is down 28% from its peak. April price per square foot is down 16% from its peak.
Folsom appears to be experiencing a much sharper drop off in sales, but it does not appear to be contributing to a weakened market for sellers.
Data Warning: For those of you pulling this data, it appears the sales count calculations are a bit unreliable. The % change does not work out if you look up the previous years' data (it didn't for Folsom, EDH, and some areas others were monitoring). I'm not sure if they just do the math wrong, or if there are properties that are not showing up in the counts.
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9 comments:
I just found your blog. Good stuff. Since I live in Folsom, I'm glad to hear that values are holding a bit better than EDH.
I think it has to do with the amount of residential land owned by Elliott. As a "private" builder, he can halt construction a lot more quickly than the publics. You should have heard Harry speak at last November's BIA Sacramento Regional Forecast.
Good information on your blog. Does anyone know how many real estate agents are in the Sacramento Metro area?
Good information on your blog. Does anyone know how many real estate agents are in the Sacramento Metro area?
More interesting stuff! You're doing a fine job with this blog, BT.
In my newly-inspired quest to try not to get mesothelioma in EDH, I sprayed down the walkways and driveway over the weekend and will continue to do so.
This is now the #3 housing blog that I obsessively read! Wooooooot!
Check your zip codes, Folsom is 95630, EDH is 95742.
Good catch Sippn. They are updated.
"Check your zip codes, Folsom is 95630, EDH is 95742. "
95762 sounded right to me, unless it was recently changed.
PR they were reversed, and I just can't type!
For those of you pulling this data, it appears the sales count calculations are a bit unreliable. The % change does not work out if you look up the previous years' data (it didn't for Folsom, EDH, and some areas others were monitoring). I'm not sure if they just do the math wrong, or if there are properties that are not showing up in the counts.
DQ likes to revise their data.
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