Eldorado Real Estate Report – May – Oct. 2019

by katezr | Nov 8, 2019 | Eldorado Real Estate Market Report

Here is the Eldorado Real Estate Report for the last six months covering May – October 2019. Inventory is up slightly, with 23 on the market in last month.

Our market is still very active with the average price per square foot breaking a record at $244.

In October:

23 Active Eldorado Properties

9 Homes Under Contract

11 Sold

******* $244 was the average price per square foot in October. This is the highest I could find going back 15 years in the MLS. This is the average of the homes sold in October – some were higher and some were lower. 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.

****43 were the average days on the market last month. **Days on the market are stopped the day a seller accepts an offer and do not include the escrow period which can be 30-60 days. **

– 99% is the sales price vs. listing price for October. 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 99% – 100% for the last six months. The sooner a property goes under contract, the closer to the listing price or sometimes higher, the seller is likely to receive.

– 473K was the average listing price last month. The average sales price was 447K.

– 2.1 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. Six months indicates a balanced market between buyers and sellers. Less than 6 months means a seller’s market, more than 6 months means a buyer’s market.

Eldorado remains a popular neighborhood for buyers all over the United States, but now particularly CA, OR and WA. A few Texans and Floridians too.

If you would like to discuss the current state of the Eldorado market, or have questions about this beautiful neighborhood, please let me know.