Eldorado Real Estate Report – Sept. 2023 – Feb. 2024

Eldorado Real Estate Report – Sept. 2023 – Feb. 2024

Here is the Eldorado Real Estate Report for the last six months – September 2023 – February 2024. There are six properties on the market today ranging in price from 614K – $1,250,000. There are 2,760 homes in Eldorado – so this is very low inventory. This market remains challenging for buyers as do the interest rates. As we come into Spring, we are hoping to see an increase in listings.
 
In February:
 
5 Active Listings
 
7 Under Contract
 
8 Sold
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$324 was the average price per square foot last month. 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 $311 – $352 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.  

54 – were the average days on the market in February. This is the number of days it took for sellers to accept a contract, not to close. This has ranged from17 days to 54 days in the last six months.

96% – is the average of what sellers received on their listing price. This is based on the original price of the property, not the reduced price. This has ranged from 96% – 99% in the last six months.

952K – average listing price. This number is unusually high due to two Eldorado properties listed at over 1.2M and another listed at 995K, with only six on the market.

672K – average sold price

0.6 Months of Inventory – about three weeks. 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 keep prices up. 

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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Number of Homes For Sale vs. Sold vs. Pended (Sep. 2023 – Feb. 2024)
Average Price per SQFT (Sold) (Sep. 2023 – Feb. 2024)
Avg Days On Market & SP/Orig LP % (Sep. 2023 – Feb. 2024)
Average Price of For Sale and Sold (Sep. 2023 – Feb. 2024)
Months of Inventory Based on Closed Sales (Sep. 2023 – Feb. 2024)
Eldorado Real Estate Report – August 2023 – January 2024

Eldorado Real Estate Report – August 2023 – January 2024

Here is the Eldorado Real Estate Report for the last six months – August 2023 – January 2024. Activity cooled a bit in January as you will see below. Today there are six active listings in Eldorado ranging in price from $497,000 to $1,250,000. Once interest rates begin to decrease, sellers will be more confortable letting their low interest rates go and put their homes on the market.
 
In January:
 
7 Active Listings
 
10 Under Contract
 
6 Sold
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$320 was the average price per square foot last month – the lowest number in 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.. 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 $320 – $364 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.  

37 – were the average days on the market in January. This is the number of days it took for sellers to accept a contract, not to close. This has ranged from 3 days to 37 days in the last six months.

95% – is the average of what sellers received on their listing price. Down 5% in the last six months. This is based on the original price of the property, not the reduced price. This has ranged from 95% – 100% in the last six months.

789K – average listing price

578K – average sold 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. Historically, a six-month supply is associated with moderate price appreciation, lower levels keep prices up. 

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.

Number of Homes For Sale vs. Sold vs. Pended (Aug. 2023 – Jan. 2024)
Average Price per SQFT (Sold) (Aug. 2023 – Jan. 2024)
Avg Days On Market & SP/Orig LP % (Aug. 2023 – Jan. 2024)
Average Price of For Sale and Sold (Aug. 2023 – Jan. 2024)
Months of Inventory Based on Closed Sales (Aug. 2023 – Jan. 2024)
Eldorado Real Estate – 2023 Year-End Summary

Eldorado Real Estate – 2023 Year-End Summary

Here is the year-end round up of the Eldorado real estate activity for 2023. There were 117 properties sold last year ranging is sales price from 422K to 1.3M. Nine Eldorado homes sold for more than 1M and 15 properties sold for between 400K – 500K. No listings came on the market under 400K.
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Nine lots sold last year ranging from 105K – 245K – the one for 245K is the one on the corner of Monte Alto and Vista Grande which is nearly 5 acres, zoned for both commercial and residential and has the potential for a lot split.
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Our inventory began to increase in June and sales were steady, then the pending sales decreased slightly in November and December.
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Home inspections remain challenging. Terminations were on the high side this year – due primarily to roof issues, Kitec plumbing in floors and/or walls and the age of mechanical systems. While a boiler or roof may be perfectly functional at the time of the inspection, a home inspector may say the dreaded “at the end of its life and buyer should budget for a replacement.” Then here we go back to the table for an expensive repair or credit two weeks prior to closing.
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If you are planning to list in the next year or so, consider getting a pre-listing inspection – it will be the best $600 you can invest in the sale of your property. Then you can get ahead of not only major items, but the long list of minor items buyers will request to be addressed anyway.
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Eldorado Real Estate Report – December 2023
In December:
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14 Active Listings
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7 Under Contract

9 Sold

$326 was the average price per square foot last month. 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 – $364 in the last 12 months.

29 – were the average days on the market in December. This is the number of days it took for sellers to accept a contract, not to close. This has ranged from 3 – 77 days in the last year.

96% – is the average of what sellers received on their listing price last month. This is based on the original price of the property, not the reduced price. This has ranged from 93% – 100% in 2023.

Check out this graph below (#4) – for a look at the rollercoaster ride of listing and sales prices for last year. 

713K – average listing price

733K – average sold price

1.6 Months of Inventory – In 2023, this has ranged from 2 – 7 weeks. 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 wonderful neighborhood, please don’t hesitate to contact me. 

Number of Homes For Sale vs. Sold vs. Pended (Jan. 2023 – Dec. 2023)

 

Average Price per SQFT (Sold) (Jan. 2023 – Dec. 2023)

 

Avg Days On Market & SP/Orig LP % (Jan. 2023 – Dec. 2023)

 

Average Price of For Sale and Sold (Jan. 2023 – Dec. 2023)

 

Months of Inventory Based on Closed Sales (Jan. 2023 – Dec. 2023)

 

Eldorado Real Estate Report – August 2023 – January 2024

Eldorado Real Estate Report – June – November 2023

Here is the Eldorado Real Estate Report for the last six months – June – November 2023. This month we are going to take a little trip back to 2019. Though interest rates are beginning to tick down, the pool of buyers has decreased. I did recently receive a written request for seller financing because buyers did not want to obtain a loan. This seller said no.
 
Available housing in Eldorado is at a four-year high as is the months of inventory. Both back to November 2019 numbers. 
 
Today’s interest rate on a 30-year fixed rate mortgage is 7.44%, the lowest since early August. The high was 8.45% in October.
 
Inventory continues to increase. If interest rates continue to drop in 2024, which is what we are hearing, buyers would be wise to buy now and re-finance later rather than get into aggressive bidding wars next year. 
 
In November:
 
19 Active Listings – has not been this high since November 2019.
 
10 Under Contract
 
10 Sold
 

$321 was the average price per square foot last month. 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 – $364 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.  

36 – were the average days on the market in November. This is the number of days it took for sellers to accept a contract, not to close. This has ranged from 3 days to 38 days in the last six months.

97% – is the average of what sellers received on their listing price. This is based on the original price of the property, not the reduced price. This has ranged from 96% – 100% in the last six months.

753K – average listing price

600K – average sold price – take a look at graph #4 and see how crazy this year has been.

1.9 Months of Inventory – Eldorado has not had this many listings on the market since November 2019. 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. 

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

Number of Homes For Sale vs. Sold vs. Pended (Jun. 2023 – Nov. 2023)
Average Price per SQFT (Sold) (Jun. 2023 – Nov. 2023)
Avg Days On Market & SP/Orig LP % (Jun. 2023 – Nov. 2023)
Average Price of For Sale and Sold (Jun. 2023 – Nov. 2023)
Months of Inventory Based on Closed Sales (Jun. 2023 – Nov. 2023)
Eldorado Real Estate Report – May – October 2023

Eldorado Real Estate Report – May – October 2023

Here is the Eldorado Real Estate Report for the last six months – May – October 2023. Today’s average interest rate on a 30-year mortgage is 8.359% and has created some challenges in our market. Currently there are 18 active properties on the market ranging from $475,000 to $1,295,000. Eldorado has not had this much inventory since October 2021. There are four residential lots for sale ranging from 160K – 225K. 
 
The increase in interest rates has decreased buyer’s willingness to obtain financing. So they are now interested in submitting offers contingent on their current residence selling. Sellers are not so willing to take on that risk as they have not had to for years. We’ll see who blinks.
 
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, buyers would be wise to buy now and re-finance later rather than get into aggressive bidding wars next year. 
 
In October:
 
12 Active Listings
 
11 Under Contract
 
13 Sold
 

$348 was the average price per square foot last month. 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 – $364 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.  

22 – were the average days on the market in October. This is the number of days it took for sellers to accept a contract, not to close. This has ranged from 3 days to 38 days in the last six months.

99% – is the average of what sellers received on their listing price. This is based on the original price of the property, not the reduced price. This has ranged from 96% – 100% in the last six months.

704K – average listing price

790K – average sold price – take a look at graph #4 and see how crazy this year has been.

0.9 Months of Inventory – Less than one month. 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. 

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

Number of Homes For Sale vs. Sold vs. Pended (May. 2023 – Oct. 2023)
Average Price per SQFT (Sold) (May. 2023 – Oct. 2023)
Avg Days On Market & SP/Orig LP % (May. 2023 – Oct. 2023)
Average Price of For Sale and Sold (May. 2023 – Oct. 2023)
Months of Inventory Based on Closed Sales (May. 2023 – Oct. 2023)