Eldorado Real Estate Report – Oct. 2022 – March 2023

Eldorado Real Estate Report – Oct. 2022 – March 2023

Here is the Eldorado Real Estate Report for the last six months – October 2022 through March 2023. Inventory remains low and buyer interest remains strong as we head into Spring and Summer. Today there are six active property listings ranging in price from $495,000 – $985,000. A couple of spec homes will break Eldorado sales records this month.
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Eldorado listing prices have not decreased much since the craziness of 2021-2022 and remains a sought-after neighborhood for buyers from around the U.S. Sellers who properly prepare their properties for sale and price it correctly, will likely realize a fairly quick sale at a sales price at or close to the listing price.
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If you are planning to list in the next year or so, please prepare your property for sale. Roof, stucco, septic, yard, windows, deep clean etc…it will alleviate the heartbreak of a contract termination during the inspection period. Better yet, get 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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In March:
4 Active Listings
5 Under Contract

8 Sold

$333 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 $319 – $367 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.

27 – were the average days on the market in March. This is the number of days it took for sellers to accept a contract, not to close.

98% – 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 92% – 98% in the last six months.

748K – average listing price

602K – average sold price

0.5 Month of InventoryThat is 2 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 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 (Oct. 2022 – Mar. 2023)

 

Average Price per SQFT (Sold) (Oct. 2022 – Mar. 2023)

 

Avg Days On Market & SP/Orig LP % (Oct. 2022 – Mar. 2023)

 

Average Price of For Sale and Sold (Oct. 2022 – Mar. 2023)

 

Months of Inventory Based on Closed Sales (Oct. 2022 – Mar. 2023)

 

Welcome to Eldorado!

Eldorado in Santa Fe, New Mexico, is home to some of the most sought-after real estate properties in the county. My name is Lisa Smith and I am a long-time resident and a realtor in this community. I specialize in listing and selling Eldorado area properties. It is truly a unique community which offers something for everyone: hiking trails, biking, swimming, tennis, basketball, stables, soccer fields, dog park, children’s parks, a 4,000 acre nature preserve and more.

It’s just 20 minutes to the heart of Santa Fe and the art, culture and history our beautiful city offers as well as excellent year-round climate, gorgeous views, clean air and a variety of recreational activities.

There are 2,670 homes on 8,000 acres with about 6,000 residents. Singles, families, artists, couples, sports enthusiasts, writers, historians—you won’t meet a boring person, believe me! Residents have moved here to enjoy the peaceful atmosphere of Santa Fe or just enjoy the beauty and expansive views of Eldorado.

The homes are primarily Pueblo Revival Style with a few Northern New Mexico (pitched metal roof) style mixed in.

The Agora shopping center in Eldorado has restaurants, vet services, hair salon, shops and mail services as well as a beautifully landscaped courtyard. La Tienda across Avenida Vista Grande has  tap room, more restaurants, hardware store and boutique shopping.

Dues are an extremely low $525 a year because Santa Fe County maintains the roads. Eldorado also has the top ranked Volunteer Fire Department in New Mexico.

We would not live anywhere else! Please let me know if you have any questions regarding this wonderful community or the real estate properties available in Eldorado.

Eldorado Community School Open New Building – Looks Fantastic!

There is now enough room in Roni Rohr’s art class for all her kids to hula hoop.

Which is what her fifth-graders did a few minutes after they walked into their brand-new classroom at El Dorado Community School a few minutes past noon Wednesday.

The walk-in closet in her new room is about half the size of the portable class Rohr had been teaching art in for the past four years. “I’m jazzed,” she said of her new room, which includes spacious wall storage space, an art sink and a separate closet full of recycled art supplies.

She didn’t have all of those recycled pieces, be they feathers or buttons, before she moved into her new class on Monday and Tuesday: “I found so many things. I actually gained [items]. I’m a huge recyclable person, so anybody who got rid of stuff during the move? — My gain.”

Her fifth-graders all pretty much used the same word to describe their new digs: “Awesome.”

They weren’t alone in sharing that reaction. You could feel an energetic buzz among the roughly 600 students in the K-8 as they moved through the newly painted hallways from one class to another Wednesday.

The El Dorado students didn’t have to go to school Monday or Tuesday this week as staff members took those two days to move into their new rooms, following about a year’s worth of construction on site. Though construction will continue through summer’s end, the 45 new classrooms and offices, including a science check-out lab, new computer labs and a teachers lounge, were ready to go for the teachers by Monday.

The construction also included a new gymnasium and a new second floor with upstairs wings of classes for the fifth- through eighth-graders. By August, the school will have a new cafeteria in a new building behind the main building, and the current cafeteria (in the small gym) will be remodeled into a combination music/band room.

El Dorado is just one of several capital-improvement projects funded by a $160 million general-obligation bond approved by voters in 2009. Gonzales Community School’s staff and students moved back into their remodeled digs last week, for instance.

El Dorado Principal Anne Darnton was unpacking boxes and moving items around her newly furnished office Wednesday. The kids, she said, were excited to discover three sets of stairs in the newly constructed facility.

“The teachers got to see their new rooms last week,” she said. “Almost everyone has been teaching in portables at one time or another, so they were pretty excited.”

Darnton said there are still about 15 portables on campus, although none are in use. She hopes the district will remove them before semester’s end. The playground will undergo a remodel during the summer too, she said.

Only the school’s kindergartners did not move into new classes — their classes, which were renovated a year ago, line the hallway with both the administrative office and the library.

Although Darnton’s office is ready, the school’s administrative assistants, currently sitting in a lone portable in front of the school, have to wait another week or so before the new main entrance, including their office, is finished by the construction crew.

Board member Glenn Wikle, whose District 2 includes El Dorado, stopped by the school for a visit Wednesday morning. He said the transformation was “amazing — it’s like a whole different school. And everything works!”

Prior to construction, the school building totaled about 65,776 square feet prior. Now it totals about 96,100.

“No wonder the custodial staff feel like they have a lot more to clean,” Darnton said.