Eldorado Real Estate Report – Oct. 2017 – March 2018

Here is the monthly Eldorado Real Estate Report covering the last six months from October 2017 through March 2018.

 

**Low inventory means higher prices. **

Listing prices are increasing due to the lack of available homes on the market. Multiple offer situations are back. If you are looking for a home in Eldorado, best to get your financing in place now if you are getting a loan or have your proof of funds ready if you are paying cash. Offers contingent on selling another home are happening, but your leverage will be slightly decreased.

If you are considering listing later in the year, now is an ideal time as competition is low.

In March:

 

15 Active Eldorado Properties 

15 Homes Under Contract

21 Sold

****************As of today, there are only 10 homes currently on the market in Eldorado.**********

 

– $184 was the average price per square foot in March. 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 $159 – $211 in the last six months. Some properties sell for as low as $115 and as high as $294.

****46 were the average days on the market last month. *** The Santa Fe MLS has changed the way Days on the Market are reported. 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.

– 98% is the sales price vs. listing price for March. 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 the seller is likely to receive.

– 459K was the average listing price last month. The average sales price was 394K.

– 1 month 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. In the 14 years I have been a Realtor, I have never seen lower inventory.

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