Eldorado Real Estate Report – Nov. 2019 – April 2020

Eldorado Real Estate Report – Nov. 2019 – April 2020

The April numbers look almost like normal times with the exception of the longer days on the market. Here’s what is happening today:

Buyers from out-of-state which normally would be here in droves, are not here. Homes are staying on the market longer and the number of showings is decreasing.

Buyers are asked to wear masks and gloves during showings – their agent is supposed to make sure they do. Everyone is asked not to touch anything or use the facilities. Personally, I do not allow children to attend showings. No open houses are allowed. No MLS tours are happening.

Realtors are doing Zoom or Facetime showings and some homes are selling that way. If a buyer has friends or relatives in town, they see the house for them.

We have new COVID-19 forms which extend deadlines automatically if someone “essential” in the transaction is diagnosed with the disease, ordered to quarantine, has a government imposed travel limitation or the closure of any service. These parties include lenders, brokers, insurance providers, lenders, appraisers, inspectors, title companies, repair persons, contractors and more.

When the second quarter economic numbers come out, we could see some serious changes in our market.

As Realtors, we have no idea what is going to happen and are doing the best we can do to still serve buyers and sellers in this rapidly changing environment.

Stay safe.

In April:

11 Active Listings

9 Under Contract

8 Sold

$210 was the average price per square foot last month.  This has ranged between $204 and $241 over the last six months. This number depends on such a wide range of factors –  the size of the house, age, quality of the finishes, views, heating, construction, etc., that it is not an accurate measure of value. The larger the house, the lower the price per square foot. The smaller the house, the higher the price per square foot.

82 – were the average days on the market in April. This number will likely increase in the coming months.

98% – is what sellers received of their listing price last month. This is the price in which the home was listed, not necessarily the original listing price.

$485,000 average listing price

$511,000 average sales price

– 1.4 months of inventory – 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 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. This number will likely also increase in the next few months as homes will take longer to sell as the pool of buyers shrinks.

 

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

Number of Homes For Sale vs. Sold vs. Pended (Nov. 2019 – Apr. 2020)

 

Average Price per SQFT (Sold) (Nov. 2019 – Apr. 2020)

 

Avg Days On Market & Sold/List Price % (Nov. 2019 – Apr. 2020)

 

Average Price of For Sale and Sold (Nov. 2019 – Apr. 2020)

 

Months of Inventory Based on Closed Sales (Nov. 2019 – Apr. 2020)
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