Here is the Eldorado Real Estate Report for the last six months – February – July 2024. There are 15 properties on the market today ranging in price from 515K – 1.4M, 6 of which have had price reductions. Sixteen Eldorado properties are under contract from 545K – 975K. Six lots are for sale from 133K – 245K, one lot is under contract listed at 139K.
The market seems to have returned to a more balanced one in July, but inventory continues to increase. There are buyers out there, most of which are getting loans. Of the 5 I have under contract today, all of the buyers are getting a mortgage, so rates seem to no longer be an issue. Looks like buyers have come to the realization that very low rates will not be coming back any time soon.
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In July:
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17 Active Listings
13 Under Contract
13 Sold
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$329 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 $326 – $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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7 – were the average days on the market in July, down from 35 in June. This has ranged from 7 – 55 in the last six months. This is the number of days it took for sellers to accept a contract, not to close.
771K – average listing price.
737K – average sold price
1.3 months of inventory. This means the length of time it would take to sell all the homes on the market at the current rate of sales. This is down from 2.4 months in June, but still a bit on the high side historically for Eldorado.
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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