Lovely El Matador Condo
Delightful and charming downtown Santa Fe, NM condo in El Matador. Great investment property with easy rental potential. Ground level steps from covered parking with two enclosed extra storage closets just for this unit. Plaster walls, nichos, new range, microwave and refrigerator. New countertops in kitchen and bath. New bath vanity. Large covered front portal with multiple seating areas and a new sun shade. BRAND NEW stack washer and dryer. Gorgeous courtyards and common areas. HOA covers roof, stucco, furnace and snow removal. Gated community. Minutes to the Santa Fe Plaza, shops and dining.
Here is the monthly Eldorado Real Estate Report covering the last six months from March through August 2017. Inventory of available properties continues to increase slowly, the rate of sales is brisk. Our neighborhood continues to be popular with folks who appreciate the land, views, biking, hiking and the pool, parks and shopping. The way Days on Market is calculated has changed so it looks drastically shorter than it used to. The Santa Fe MLS now stops counting when a home goes under contract.
32 Active Eldorado Properties
18 Homes Under Contract
– $219 was the average price per square foot in August. 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. The smaller the house, the higher the price per square foot. This average has ranged from $198 – $225 in the last six months. Some properties sell for as low as $119 and as high as $294.
****29 were the average days on the market last month. *** The Santa Fe MLS has changed the way Days on the Market are reported. You will see here on the graph that the last 5 months have decreased dramatically. No longer are the days counted in which a property is under contract. Which could be 14-65 days typically. Days on the market are stopped the day a seller accepts an offer.
– 98% is the sales price vs. listing price for August. 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. The 100% figure takes into account that some homes sold above the listing price.
– 415K was the average listing price last month. The average sales price was 408K.
– 1.3 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 the current state of the very active Eldorado market, or have questions about this beautiful neighborhood, please let me know.