This stunning El Dorado Hills mansion sold for $4.3 million – that’s a record deal
A 15,000-square-foot mansion sold Wednesday, March 24, for $4.3 million in what is believed to be the highest residential sale ever recorded for El Dorado Hills.
The five-bedroom, eight-bath estate known as Balancia sits on two acres of meticulously landscaped grounds behind the manned gates of Serrano.
The previous record for a single-family home was $3.9 million — set by the same property in 2019, according to Ryan Lundquist, a Sacramento appraiser and market analyst.
“The million dollar market has been exploding lately in the Sacramento region,” Lundquist said via email. “When stepping back and looking at just El Dorado Hills, 2020 as a whole saw a 56.5 percent increase in million-dollar sales volume. When zooming in to the past few quarters, we’ve essentially seen 110 percent more million-dollar sales compared to the same time last year in the entire region.
“With all that said, there still aren’t too many properties above the $3 million-dollar price point, but we’ve definitively been seeing more over the past year,” he added. “I’d say we are in a market of outliers where we are starting to see some of the highest sales ever.”
So far in 2021, there have been three sales of more than $3 million in the region. Four sales are pending for over $3 million. That’s compared to 2020, when there were 14 sales at that mark, and five in both 2018 and in 2019, he added.
The El Dorado Hills home features a guest suite with a private entrance and kitchenette, an elevator and dumbwaiter, elegant fountains, a pool with a sheer granite waterfall and spa, and an auto court with garages for five cars.
“It’s beautiful, it’s tranquil, it’s private and secure,” the official listing states. “It has every amenity you can think of and then some.”
Located at 4473 Greenview Drive, the estate hit the market for $5.495 million in the summer of 2020 in the midst pandemic-related restrictions to slow the spread of coronavirus. Escrow closed on March 24, 2021 as statewide COVID-19 rates are dropping.
COVID restrictions didn’t appear to hurt the process of selling the home, said Jon Yoffie, the listing agent with Yoffie Real Estate Group.
“We saw a steady stream of qualified buyers the entire time the home was on the market.,” he said in an email. “With the COVID restrictions around residential real estate, and buyers being rightfully cautious about viewing homes, we found that potential buyers took full advantage of the videos, the virtual tour, the real estate and architectural photography, and the 80-page hardbound book that were produced to market the property. Buyers arrived incredibly well-educated on the home. An average of three to four qualified buyers toured the home every month, with many coming back for multiple visits.”
Yoffie has seen strong interest in high-end homes in Serrano and El Dorado Hills.
“It was clear to us from the enthusiasm for the home that there is a market in Serrano and El Dorado Hills for buyers in this price range so long as the home meets incredibly high expectations,” he said. “Most of the potential buyers were shopping for a turnkey luxury estate that would be a place to escape their busy professional lives. Balancia fit the bill perfectly.”
He saw potential buyers from the Bay Area, Southern California and Nevada — as well as the El Dorado Hills and Sacramento areas. The new owner is relocating from Indiana, Yoffie said.
Other features of the property include a loggia with a Roman groin-vault ceiling and fireplace and a covered dining patio.
“There are two things that separate this home from others and they both tie back to the size and the home’s livability,” Yoffie told the Sacramento Bee in July. “First, despite its size, the home retains a very comfortable human scale. While the home and the spaces within it are clearly quite large, you are never overwhelmed by the size in any given space. The design makes the proportions feel comfortable and ‘right.’”
He also noted “the quality of the design, construction, and materials used differentiate the home from others.”
“The home and property are stunning,” Yoffie said Wednesday after confirming the sale. “it’s the most beautifully constructed home I’ve ever been inside.”
This story was originally published March 25, 2021 at 10:17 AM.
