Eldorado Real Estate Report – April – September 2023
This market is wild and will likely get even more so. Fall is typically a very busy time for buyers ad sellers and this Fall is no exception. Fifteen properties went under contract in September, the most activity since last November.
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 September:
8 Active Listings
15 Under Contract
9 Sold

$352 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.

17 – were the average days on the market in September. This is the number of days it took for sellers to accept a contract, not to close. This has ranged from 3 days to 77 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 93% – 100% in the last six months. The percentage of reduced listing price vs sold price was 99% in September.

617K – average listing price

573K – 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***

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Number of Homes For Sale vs. Sold vs. Pended (Apr. 2023 – Sep. 2023)
Average Price per SQFT (Sold) (Apr. 2023 – Sep. 2023)
Avg Days On Market & SP/Orig LP % (Apr. 2023 – Sep. 2023)
Average Price of For Sale and Sold (Apr. 2023 – Sep. 2023)
Months of Inventory Based on Closed Sales (Apr. 2023 – Sep. 2023)
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*All reports are published October 2023, based on data available at the end of September 2023. All reports presented are based on data supplied by the Santa Fe MLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.