Eldorado Real Estate Report – March – August 2023

Eldorado Real Estate Report – March – August 2023

by | Sep 9, 2023 | Eldorado Real Estate Market Report

Here is the Eldorado Real Estate Report for the last six months – March – August 2023. We are starting to see a return to 2022 now. Inventory continues to increase, as are the number of Eldorado properties going under contract. If interest rates begin to drop in 2024, which is what we are hearing, it will be 2021 all over again. There is much pent up buyer demand and they will go into overdrive should that occur. Buyers are smart to buy now and re-finance later rather than get into aggressive bidding wars next year.
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In August:
 
14 Active Listings. This is the highest Eldorado inventory since January 2022.
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13 Under Contract
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7 Sold
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$363 was the average price per square foot last month – the highest since April. This number depends on such a wide range of factors –  the size of the house, age, quality of the finishes, views, heating, construction, etc.. and is not a fully 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. This has ranged from $308 – $363 in the last six months. Keep in mind this is the average – some homes have a much lower price per square foot and some have a much higher number.
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3 – were the average days on the market in August. This is the lowest since April 2022. This is the number of days it took for sellers to accept a contract, not to close. This is the lowest since April 2022. 

100% – is the average of what sellers received on their listing price. We have not seen 100% since July 2022. This is based on the original price of the property, not the reduced price. This has ranged from 93% – 100% in the last six months. This number is increasing as properties once again sell for over the asking price.

747K – average listing price

644K – average sold price

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. Historically, a six-month supply is associated with moderate price appreciation, lower levels push up prices more rapidly. 

If you would like to discuss the current state of the Eldorado market or have questions about this wonderful neighborhood, please don’t hesitate to contact me. 

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***Sotheby’s is proud to be the Eldorado Market Leader for 2020 – 2022***

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Number of Homes For Sale vs. Sold vs. Pended (Mar. 2023 – Aug. 2023)

 

Average Price per SQFT (Sold) (Mar. 2023 – Aug. 2023)

 

Avg Days On Market & SP/Orig LP % (Mar. 2023 – Aug. 2023)

 

Average Price of For Sale and Sold (Mar. 2023 – Aug. 2023)

 

Months of Inventory Based on Closed Sales (Mar. 2023 – Aug. 2023)