Eldorado Real Estate Report – Jan. – June 2020

Eldorado Real Estate Report – Jan. – June 2020

I keep waiting for the real estate market in Santa Fe to fall off a cliff- but it doesn’t. We are busier now than before the pandemic. Multiple offers and buyers making offers from Facetime and Matterport 3D videos. Of the three Eldorado homes that I put under contract via video in the last 3 weeks, one saw the home 7 days later, one saw it 2 weeks later and one won’t see it until a month after closing. Eldorado has always had a strong buyer pool from out-of-state, and now that people are becoming uncomfortable living in large cities, it has really ramped up as now they can shop from their living rooms.

Check out the Matterport videos on realtor.com for 3 Mariano Road and 2 Chusco Road. They are amazing – exactly like walking through the home.

Realtors are essential workers, we mask up for every showing and listing appointment, sometimes gloves and lots of distance. Buyers no longer ride in our cars and meet us at every showing. 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.

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. Updating our technology, becoming paperless and being able to work from just about anywhere.

Please let me know if you would like more information on our beautiful neighborhood.

In June:

13 Active Listings

15 Under Contract

13 Sold

$246 was the average price per square foot last month.  This has ranged between $204 and $253 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.

38 – were the average days on the market in June.

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.  This has ranged from 97% – 88% over the last 6 months.

$496,000 average listing price

$405,000 average sales price

-1 month 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.

Number of Homes For Sale vs. Sold vs. Pended (Jan. 2020 – Jun. 2020)

 

Average Price per SQFT (Sold) (Jan. 2020 – Jun. 2020)

 

Avg Days On Market & Sold/List Price % (Jan. 2020 – Jun. 2020)

 

Average Price of For Sale and Sold (Jan. 2020 – Jun. 2020)

 

Months of Inventory Based on Closed Sales (Jan. 2020 – Jun. 2020)
– 1 month 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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