Eldorado Real Estate Report – Feb. – Jul. 2020

Eldorado Real Estate Report – Feb. – Jul. 2020

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The Eldorado real estate market is more active than last month – which is incredible. A true SELLER’S MARKET is upon us. Low inventory is still an issue as buyers continue to discover our wonderful neighborhood and all that it offers.

Properties prepared for sale and priced correctly don’t last long, or are going under contract before even hitting the market. High-quality video tours are critical as more and more buyers are buying sight-unseen. Many times their Eldorado friends come to the showing and Facetime with them. Photos and videos don’t show inside of closets, appliances, kitchen cabinets, laundry rooms or garages, so the friends can do a deeper dive into the property and be directed by the buyer as to what exactly they want to see.

Of course we have no idea what is going to happen or how long this will go on. Realtors and their clients observe the COVID-19 protocols for showings and listing appointments. We are not allowed to have clients in the office and frankly the staff would rather Realtors not spend a lot of time there. So we can work anywhere.

If you or someone you know are getting ready to list, better sooner rather than later to leverage the current brisk environment. Please let me know if you would like more information on current market conditions.

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In July:

13 Active Listings

11 Under Contract

11 Sold

$233 was the average price per square foot last month.  This has ranged between $204 and $263 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 this not an accurate measure of value, just one tool of many. 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 July. Down from 38 days in June.

100% – is what sellers received of their listing price last month. This is the price in which the home was listed when it sold, not necessarily the original listing price.  This has ranged from 98% – 100% over the last 6 months. A few sold over the asking price.

$505,000 average listing price

$496,000 average sales price

– 1.2 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.