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Eldorado Real Estate Report – January – June 2016

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Here is the Eldorado Real Estate Report covering the first six months of the year from January 2015 to June 2016. Inventory is continuing to increase with a few multiple offers in nearly all price ranges. 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.

If you are planning to put your home on the market, preparation is everything. With increased competition, one’s property must be in the best and most presentable condition possible. It is worth it.

In June:

53 Active Eldorado Properties 

12 Homes Under Contract

21 Sold

– $186 was the average price per square foot in June. 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 average has ranged from $151 – $186 in the last six months. Some properties are as low as $125 and as high as $250.

78 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. Down from 121 in May.

– 98% is the sales price vs. listing price for June. 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 is likely to receive.

– 400K was the average listing price in June. The average sales price was 400K.

– 2.5 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.

Number of Homes For Sale vs. Sold vs. Pended (Jan. 2016 – Jun. 2016)
Average Price per SQFT (Sold) (Jan. 2016 – Jun. 2016)
Avg Days On Market & Sold/List Price % (Jan. 2016 – Jun. 2016)
Average Price of For Sale and Sold (Jan. 2016 – Jun. 2016)
Months of Inventory Based on Closed Sales (Jan. 2016 – Jun. 2016)

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