Eldorado Real Estate Report – Dec. 2019 – May 2020

Well, honestly I thought our housing market would be adversely affected by the pandemic – but thus far that has still not happened. Another RECORD-BREAKING month for price per square foot. Multiple offers are back and buyers from out-of-state are making their way to Santa Fe.

In May:

13 Active Listings

9 Under Contract

10 Sold

***$253 was the average price per square foot last month.***  Breaking the previous record of $244 set in October 2019. This has ranged between $204 and $253 over the last six months.  This number fluctuates with the type of home sold in a given month, but a new record nonetheless. 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.

17 – were the average days on the market in May, a sharp decrease from 74 days in April.

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

$523,000 average listing price

$443,000 average sales price

– 1.3 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.

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

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