Eldorado Real Estate Report – Nov. 2019 – April 2020

Eldorado Real Estate Report – Nov. 2019 – April 2020

The April numbers look almost like normal times with the exception of the longer days on the market. Here’s what is happening today:

Buyers from out-of-state which normally would be here in droves, are not here. Homes are staying on the market longer and the number of showings is decreasing.

Buyers are asked to wear masks and gloves during showings – their agent is supposed to make sure they do. Everyone is asked not to touch anything or use the facilities. Personally, I do not allow children to attend showings. No open houses are allowed. No MLS tours are happening.

Realtors are doing Zoom or Facetime showings and some homes are selling that way. If a buyer has friends or relatives in town, they see the house for them.

We have new COVID-19 forms which extend deadlines automatically if someone “essential” in the transaction is diagnosed with the disease, ordered to quarantine, has a government imposed travel limitation or the closure of any service. These parties include lenders, brokers, insurance providers, lenders, appraisers, inspectors, title companies, repair persons, contractors and more.

When the second quarter economic numbers come out, we could see some serious changes in our market.

As Realtors, we have no idea what is going to happen and are doing the best we can do to still serve buyers and sellers in this rapidly changing environment.

Stay safe.

In April:

11 Active Listings

9 Under Contract

8 Sold

$210 was the average price per square foot last month.  This has ranged between $204 and $241 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 it is not an accurate measure of value. The larger the house, the lower the price per square foot. The smaller the house, the higher the price per square foot.

82 – were the average days on the market in April. This number will likely increase in the coming months.

98% – is what sellers received of their listing price last month. This is the price in which the home was listed, not necessarily the original listing price.

$485,000 average listing price

$511,000 average sales price

– 1.4 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. This number will likely also increase in the next few months as homes will take longer to sell as the pool of buyers shrinks.

 

If you would like to discuss the current state of the Eldorado market, or have questions about this beautiful neighborhood, please let me know.

Number of Homes For Sale vs. Sold vs. Pended (Nov. 2019 – Apr. 2020)

 

Average Price per SQFT (Sold) (Nov. 2019 – Apr. 2020)

 

Avg Days On Market & Sold/List Price % (Nov. 2019 – Apr. 2020)

 

Average Price of For Sale and Sold (Nov. 2019 – Apr. 2020)

 

Months of Inventory Based on Closed Sales (Nov. 2019 – Apr. 2020)
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Eldorado Real Estate Report – Nov. 2019 – April 2020

Eldorado Real Estate Report – Oct. 2019 – March 2020

Hello All –

Well, a lot has changed since the last Eldorado Real Estate Report. No more records broken for a while it looks like. Today there are 13 homes on the market and another 12 under contract. Some of these have come back on the market a time or two as buyers become more skittish about buying at this time. The April and May numbers will paint a more accurate picture of how COVID-19 has affected our property values and the rate of sales. Some homeowners are waiting to see what happens before listing. There is still activity, real estate is not at a stand still, just slower. With interest rates so low and price reductions beginning, it is a good time to be a buyer.

In March:

12 Active Listings

9 Under Contract

10 Sold

$219 was the average price per square foot last month.  This has ranged between $204 and $244 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 it is not an accurate measure of value. The larger the house, the lower the price per square foot. The smaller the house, the higher the price per square foot.

65 – were the average days on the market in March. This number will likely increase in the coming months.

98% – is what sellers received of their listing price last month. This is the price in which the home was listed, not necessarily the original listing price.

$486,000 average listing price

$426,000 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. This number will likely also increase in the next few months as homes will take longer to sell as the pool of buyers shrinks. Out-of-state buyers, our largest market, are not here and for now, have no travel plans. While some are buying via Skype, most are waiting until things at least stabilize.

If you would like to discuss the current state of the Eldorado market, or have questions about this beautiful neighborhood, please let me know.

 

Number of Homes For Sale vs. Sold vs. Pended (Oct. 2019 – Mar. 2020)

 

Average Price per SQFT (Sold) (Oct. 2019 – Mar. 2020)

 

Avg Days On Market & Sold/List Price % (Oct. 2019 – Mar. 2020)

 

Average Price of For Sale and Sold (Oct. 2019 – Mar. 2020)

 

Months of Inventory Based on Closed Sales (Oct. 2019 – Mar. 2020)
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Eldorado Real Estate Report – Nov. 2019 – April 2020

Eldorado Real Estate Report – Sept. 2019 – Feb. 2020

More records this month in Eldorado! 

First some Eldo news:

The ECIA needs your email address! Our HOA sends out announcements which are important to our neighborhood – to add your email go to https://eldoradosf.org/ the sign up is the first post on the page.

The record-breaking low inventory has had an effect on listing and sales prices in Eldorado.

In February:

2 Active Listings – RECORD

8 Sold

8 Under Contract

$199 was the average price per square foot last month – the lowest in the last six months. This is an excellent example of why price per square foot is not an accurate measure of value. This number depends on a wide range of factors –  the size of the house, age, quality of the finishes, views, heating, construction, etc. The larger the house, the lower the price per square foot. The smaller the house, the higher the price per square foot.

80 – were the average days on the market in February. This is the highest in the last six months – the record low inventory caused some lingering listings to sell.

98% – is what sellers received of their listing price last month.

94% is what sellers received based on their original listing price prior to one or more price reductions.

$532,000 average listing price – RECORD

$465,000 average sales price – RECORD

.03 months of inventory – THAT IS 9 DAYS OF INVENTORY – RECORD

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 of inventory indicates a balanced market between buyers and sellers. less than 6 months of inventory means a SELLERS 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. If you are planning to list your property later in the Spring or Summer, consider doing so sooner rather than later.

Number of Homes For Sale vs. Sold vs. Pended (Sep. 2019 – Feb. 2020)

 

Average Price per SQFT (Sold) (Sep. 2019 – Feb. 2020)

 

Avg Days On Market & Sold/List Price % (Sep. 2019 – Feb. 2020)

 

Average Price of For Sale and Sold (Sep. 2019 – Feb. 2020)

 

Months of Inventory Based on Closed Sales (Sep. 2019 – Feb. 2020)

 

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Eldorado Real Estate Report – Nov. 2019 – April 2020

Eldorado Real Estate Report – August 2019 – January 2020

Here is the Eldorado Real Estate Report for the last six months covering August 2019 – January 2020. Low inventory continues to drive prices up. 

For the second month in a row, the average listing price is more than 500K. In December it was $503,000 and in January was $501,000. ** THE HIGHEST AVERAGE LISTING PRICES IN ELDORADO HISTORY.

**While this number is likely to decrease as lower priced homes come on the market, it is notable that for the last two months the average was more than 500K.**

In January:

 

8 Active Eldorado Properties

10 Homes Under Contract

12 Sold

 

$243 was the average price per square foot in January. This number depends on a wide range of factors –  the size of the house, age, quality of the finishes, views, heating, construction, etc. 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 $96 – $244 in the last six months.

 

56 were the average days on the market last month.  **Days on the market are stopped the day a seller accepts an offer and do not include the escrow period which can be 30-60 days. **

 

– 97% is the sales price vs. listing price for January. This is the listing price when the property went under contract, not the original listing price, which may have been higher. This has ranged from 97% – 99% for the last six months. The sooner a property goes under contract, the closer to the listing price or sometimes higher, the seller is likely to receive.

 

– 501K was the average listing price last month. The average sales price was 416K.

 

– .8 months of inventory – LESS THAN 30 DAYS! This 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.

 

Eldorado remains a popular neighborhood for buyers all over the United States, but now particularly CA, OR and WA. A few Texans and Floridians too. NOW IS THE TIME TO LIST YOUR ELDORADO PROPERTY.

 

If you would like to discuss the current state of the Eldorado market, or have questions about this beautiful neighborhood, please let me know.

 

Number of Homes For Sale vs. Sold vs. Pended (Aug. 2019 – Jan. 2020)

 

Average Price per SQFT (Sold) (Aug. 2019 – Jan. 2020)

 

Avg Days On Market & Sold/List Price % (Aug. 2019 – Jan. 2020)

 

Average Price of For Sale and Sold (Aug. 2019 – Jan. 2020)

 

Months of Inventory Based on Closed Sales (Aug. 2019 – Jan. 2020)
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Eldorado Real Estate Report – Nov. 2019 – April 2020

Eldorado Real Estate Report – 2019 Summary

Happy New Year!

Here is the 2019 year-end round up of Eldorado Real Estate activity. Whew!

Inventory was low all year. At any given time there were between 13 and 23 homes on the market – that is out of the 2,760 homes in our neighborhood. Lack of inventory is the reason for the increase in home prices.

145 homes sold in 2019

12 lots sold for between 35K -100K

$211 was the average price per square foot – so much goes into this number that is not a hard and fast rule.  This number depends on a wide range of factors –  the size of the house, age, quality of the finishes, views, heating, construction, etc. The larger the house, the lower the price per square foot. The smaller the house, the higher the price per square foot.

Properties typically stay on the market about 30 days, the homes properly prepared for sale and priced right sell much more quickly.

98%-100% is what Eldorado sellers typically receive on their listing price.

This is the listing price when the property went under contract, not the original listing price, which may have been higher. The sooner a property goes under contract, the closer to the listing price or sometimes higher, the seller is likely to receive.

In December:

503K was the average listing price – the HIGHEST of 2019.

– 451K was the average sold price.

– 2.1 months of inventory – which 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.

Eldorado remains a popular neighborhood for lots of different kinds of buyers from all over the United States.

If you would like to discuss the current state of the Eldorado market, or have questions about this beautiful neighborhood, please let me know.

 

Number of Homes For Sale vs. Sold vs. Pended (Jan. 2019 – Dec. 2019)

 

Average Price per SQFT (Sold) (Jan. 2019 – Dec. 2019)

 

Avg Days On Market & Sold/List Price % (Jan. 2019 – Dec. 2019)

 

Average Price of For Sale and Sold (Jan. 2019 – Dec. 2019)

 

Months of Inventory Based on Closed Sales (Jan. 2019 – Dec. 2019)
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Eldorado Real Estate Report – Nov. 2019 – April 2020

Eldorado Real Estate Report – June-Nov. 2019

Happy Holidays!

Here is the Eldorado Real Estate Report for the last six months covering June – November 2019.

In November:

23 Active Eldorado Properties

7 Homes Under Contract

9 Sold

$217 was the average price per square foot in November. This number depends on a wide range of factors –  the size of the house, age, quality of the finishes, views, heating, construction, etc. 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 $96 – $244 in the last six months.

32 were the average days on the market last month.  **Days on the market are stopped the day a seller accepts an offer and do not include the escrow period which can be 30-60 days. **

– 97% is the sales price vs. listing price for November. This is the listing price when the property went under contract, not the original listing price, which may have been higher. This has ranged from 97% – 100% for the last six months. The sooner a property goes under contract, the closer to the listing price or sometimes higher, the seller is likely to receive.

– 476K was the average listing price last month. The average sales price was 366K.

– 3.3 months of inventory – which 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.

Eldorado remains a popular neighborhood for buyers all over the United States, but now particularly CA, OR and WA. A few Texans and Floridians too.

If you would like to discuss the current state of the Eldorado market, or have questions about this beautiful neighborhood, please let me know.

 

Number of Homes For Sale vs. Sold vs. Pended (Jun. 2019 – Nov. 2019)

 

Average Price per SQFT (Sold) (Jun. 2019 – Nov. 2019)

 

Avg Days On Market & Sold/List Price % (Jun. 2019 – Nov. 2019)

 

Average Price of For Sale and Sold (Jun. 2019 – Nov. 2019)

 

Months of Inventory Based on Closed Sales (Jun. 2019 – Nov. 2019)

 

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