The growing gap between Folsom and EDH is somewhat distressing, and leads me to believe it may close up some time in the future (either Folsom dropping, or EDH rising).
Thursday, June 3, 2010
Median Price Per Square Foot - Folsom & El Dorado Hills
By special request, below is the chart of median price per square foot for Folsom and El Dorado Hills. Again, seems to me that we are in a new phase, where prices fluctuate a bit month to month, but overall, stay fairly flat.
The growing gap between Folsom and EDH is somewhat distressing, and leads me to believe it may close up some time in the future (either Folsom dropping, or EDH rising).
The growing gap between Folsom and EDH is somewhat distressing, and leads me to believe it may close up some time in the future (either Folsom dropping, or EDH rising).
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8 comments:
Is this asking or sales price/sqft?
median sale price per square foot
Great data thanks! I remember you mentioned before that pre-bubble data is not available, would love to see the last bubble top 92/93 to trough 97.
I had a feeling and the data confirms that EDH has been leading the pack. The electricity wildcard could play into some of the difference as PG&E and SMUD differ so greatly, especially in the summer.
Also, home size may take up some of the difference as I guess the average sq ft in EDH is greater than Folsom. But not sure, as there are plenty of McMansions in Folsom on 0.16 acre lots.
Now if I was a betting man, which I am occasionally, I would bet Folsom will follow EDH's lead.
Only time will tell and thanks again for sharing the data.
Thanks for posting!
Last time the median price was $425k, in about Aug-03, the price per foot was about $175 compared to the current price per foot of $160.
It doesn't show up too well in the median, but the 750k+ market in EDH is just getting slaughtered right now. There just isn't any financing for that price range.
If you want your property tax + power bill + insurance and maint to equal your mortgage there are a lot of options right now in EDH.
Actually Husmanen I'm thinking a big factor in the difference is the prevalence of large HOAs fees and Mello-Roos taxes in EDH compared to Folsom. They are not included in the purchase price, but are a big chunk of change in some newer develolpments (like mine).
BT, your absolutely right. I forgot about those factors, especially in Serrano.
I see many a house in Serrano where the price gets my attention, but then I check out the HOAs and Mello Roos and the total price jumps dramatically.
To each his own, but I prefer the older areas of EDH with low HOAs <$50/ month and no Mello Roos.
Someday... Someday ...
Does anyone have a reference point on how much it is to buy out the mello roos in serrano? They only last 25yrs, and many of the homes are in the 5-10yr age range now.
When I called on it last time, they wanted a several hundered dollar fee to run an estimate that I didn't want to pay.
Paul.
Did you see that 3656 Hampton Ct in Cameron Park sold at auction to a 3rd party for $188k on June 9?
Just over $100sq/ft and a nice court, pool and yard.
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