Here is the monthly Eldorado Real Estate Report covering the last six months from May through October 2017. Inventory is low and will likely stay that way until Spring. Our neighborhood continues to be popular with folks who appreciate the land, views, biking, hiking and the pool, parks and shopping. The way Days on Market is calculated has changed so it looks shorter than it used to. The Santa Fe MLS now stops counting the days when a home goes under contract.
9 Homes Under Contract
– $206 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 $184 – $225 in the last six months. Some properties sell for as low as $115 and as high as $294.
****80 were the average days on the market last month. *** The Santa Fe MLS has changed the way Days on the Market are reported. You will see here on the graph that the last 5 months have decreased dramatically. No longer are the days counted in which a property is under contract. Which could be 14-65 days typically. Days on the market are stopped the day a seller accepts an offer.
– 97% 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 97% – 100% for the last six months. The sooner a property goes under contract, the closer to the listing price the seller is likely to receive. The 100% figure takes into account that some homes sold above the listing price.
– 412K was the average listing price last month. The average sales price was 360K.
– 1.6 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. Eight months indicates a healthy real estate market. Eldorado remains a popular and in-demand neighborhood.
If you would like to discuss the current state of the Eldorado market, or have questions about this beautiful neighborhood, please let me know.