Eldorado Real Estate Report – Sept. 2019 – Feb. 2020
More records this month in Eldorado!
First some Eldo news:
The ECIA needs your email address! Our HOA sends out announcements which are important to our neighborhood – to add your email go to https://eldoradosf.org/ the sign up is the first post on the page.
The record-breaking low inventory has had an effect on listing and sales prices in Eldorado.
In February:
2 Active Listings – RECORD
8 Sold
8 Under Contract
$199 was the average price per square foot last month – the lowest in the last six months. This is an excellent example of why price per square foot is not an accurate measure of value. 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.
80 – were the average days on the market in February. This is the highest in the last six months – the record low inventory caused some lingering listings to sell.
98% – is what sellers received of their listing price last month.
94% is what sellers received based on their original listing price prior to one or more price reductions.
$532,000 average listing price – RECORD
$465,000 average sales price – RECORD
.03 months of inventory – THAT IS 9 DAYS OF INVENTORY – RECORD
Months of inventory means the length of time it would take to sell all the homes listed in Eldorado at the current rate of sales. Six months of inventory indicates a balanced market between buyers and sellers. less than 6 months of inventory means a SELLERS MARKET!
If you would like to discuss the current state of the Eldorado market, or have questions about this beautiful neighborhood, please let me know. If you are planning to list your property later in the Spring or Summer, consider doing so sooner rather than later.
