Here is the monthly Eldorado Real Estate Report covering the last six months from January – October 2018. The shift in the Eldorado market can be better understood from the beginning on the year.
Listing and sold prices have steadily increased since June. While inventory continues to increase, prices per square foot remain in the 200s since May. Homes priced well and properly prepared for sale are still selling quickly. A few homes have had more than one price reduction since the summer and remain on the market.
9 Homes Under Contract
– $205 was the average price per square foot in October. Remember 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 average has ranged from $162 – $216 this year. Some properties sell for as low as $115 and as high as $294.
****17 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. **
– 99% is the sales price vs. listing price for October. 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 98% – 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.
– 500K was the average listing price last month. The average sales price was 474K. You can see from the graph below, this is the highest of the year.
– 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 healthy real estate market. Eldorado remains a popular and in-demand neighborhood for buyers all over the United States and in some cases beyond.
If you would like to discuss the current state of the Eldorado market, or have questions about this beautiful neighborhood, please let me know.