Eldorado Real Estate Report – January – June 2024

Eldorado Real Estate Report – January – June 2024

Here is the Eldorado Real Estate Report for the last six months – January – June 2024. There are 13 properties on the market today ranging in price from 515K – 975K, 7 of which have had price reductions. Thirteen Eldorado properties are under contract. Seven lots are for sale from 133K – 245K. 
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The REAL story here is the Months of Inventory in Eldorado. Months of inventory means the length of time it would take to sell all the active listings at the current rate of sales. In June, that number was 2.8 months. It has been 5 YEARS since we had this kind of rate. Does this signal a forthcoming buyer’s market? Some agents think so. I think the market will continue to balance, but sellers will still have the edge, particularly those sellers who have properly prepared their homes for sale and priced the property correctly. The sooner an offer is made, the better chance sellers have of getting full price.
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**The other surprising part of this report is the average amount sellers are getting vs. their listing price. In June is was 92% – down from 100% last month. This is due to a couple of factors – sellers overpricing their properties and accepting contracts at less than the listing price. Pricing is a critical element is the selling process – buyers and agents know what is going on in the market. Determining pricing based on what sellers “need” or “want” usually ends up in a poor overall sales experience for them. **
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Buyers trolling Eldorado for a deal will approach homes which have been on the market the longest. Best way to avoid this is to get it ready and price it right. 
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In June:
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17 Active Listings
 
6 Under Contract
 
6 Sold
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$353 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 – $370 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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40 – were the average days on the market in June. This is up from 9 in May. This is the number of days it took for sellers to accept a contract, not to close. This has ranged from 9 days to 55 days in the last six months.

723K – average listing price.

715K – average sold price

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 (Jan. 2024 – Jun. 2024)
Average Price per SQFT (Sold) (Jan. 2024 – Jun. 2024)
Avg Days On Market & SP/Orig LP % (Jan. 2024 – Jun. 2024)
Average Price of For Sale and Sold (Jan. 2024 – Jun. 2024)
Months of Inventory Based on Closed Sales (Jan. 2024 – Jun. 2024)
Eldorado Real Estate Report – January – June 2024

Eldorado Real Estate Report – Dec. 2023 – May 2024

Here is the Eldorado Real Estate Report for the last six months – December 2023 – May 2024. There are seven properties on the market today ranging in price from 575K – 1M. 14 Eldorado properties are under contract. Seven lots are for sale from 133K – 245K. Our inventory remains low and buyer interest remains strong – fewer but highly motivated. Remember, there are 2,760 homes out here – not including the surrounding neighborhoods.
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In May:
 
5 Active Listings
 
12 Under Contract
 
8 Sold
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$364 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 – $370 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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9 – were the average days on the market in May. This is the number of days it took for sellers to accept a contract, not to close. This has ranged from 9 days to 55 days in the last six months.

100% – 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 94% – 100% in the last six months. We haven’t seen 100% since August 2023.

722K – average listing price.

676K – average sold price

0.6 Months of Inventory – about 2.5 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 (Dec. 2023 – May. 2024)
Average Price per SQFT (Sold) (Dec. 2023 – May. 2024)
Avg Days On Market & SP/Orig LP % (Dec. 2023 – May. 2024)
Average Price of For Sale and Sold (Dec. 2023 – May. 2024)
Months of Inventory Based on Closed Sales (Dec. 2023 – May. 2024)
Eldorado Real Estate Report – January – June 2024

Eldorado Real Estate Report – Nov. 2023 – April 2024

Here is the Eldorado Real Estate Report for the last six months – November 2023 – April 2024. There are nine proprieties on the market today ranging in price from 450K – 1M. Seven lots are for sale from 133K – 245K. Our inventory remains low and buyer interest remains strong – fewer but highly motivated. My last four Eldorado listings closed for over the asking price. Great news for sellers!
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In April:
 
8 Active Listings
 
9 Under Contract
 
10 Sold
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$370 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 – $370 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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33 – were the average days on the market in April. This is the number of days it took for sellers to accept a contract, not to close. This has ranged from 22 days to 55 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 94% – 98% in the last six months.

748K – average listing price.

698K – average sold price

0.8 Months of Inventory – about 3 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 (Nov. 2023 – Apr. 2024)
Average Price per SQFT (Sold) (Nov. 2023 – Apr. 2024)
Avg Days On Market & SP/Orig LP % (Nov. 2023 – Apr. 2024)
Average Price of For Sale and Sold (Nov. 2023 – Apr. 2024)
Months of Inventory Based on Closed Sales (Nov. 2023 – Apr. 2024)
Eldorado Real Estate Report – January – June 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)