Here is the Eldorado Real Estate Report covering the last six months from December 2015 to May 2016. Inventory is continuing to increase with homes selling quickly, particularly in the under 350K price range. If you are planning to purchase in Eldorado this year and will be getting a loan, it is best to visit with a lender to get the process started before viewing property. The loan process is still lengthy and buyers will need to present a pre-approval letter with an offer. You want to be ready when you find your Eldorado dream home.

In May:

48 Active Eldorado Properties 

18 Homes Under Contract

18 Sold

– $187 was the average price per square foot in May. Remember this number depends on a wide range of factors –  the size of the house, age, quality of the finishes, views, heating, construction, etc. The larger the house, the lower the price per square foot. This has ranged from $151 – $203 in the last six months. Some properties are as low as $125 and as high as $250.

121 were the average days on the market last month. This includes the number of days the property was under contract which is typically 30-45 days.

– 97% is the sales price vs. listing price for May. This is the listing price when the property went under contract, not the original listing price, which may have been higher. This has ranged from 97% – 100% for the last six months. The sooner a property goes under contract, the closer to the listing price the seller likely receives.

– 424K was the average listing price in May. The average sales price was 372K.

– 2.7 months of inventory – which means the length of time it would take to sell all the homes listed in Eldorado at the current rate of sales. Eight months indicates a healthy real estate market. Eldorado remains a popular and in-demand neighborhood.

If you would like to discuss current Eldorado market conditions, please feel free to contact me via phone or email.