Welcome to the Eldorado Real Estate Report.

As we head into the Spring and Summer selling season, inventory remains tight. Today I looked for a single-level, 3 bedroom home in Eldorado in all price ranges….and there is nothing on the market.  There is much discussion among buyers who are hopeful more properties will become available, but chances are that will not be the case. More homes will be sold off market as that will become an avenue for buyers to succeed.

This seller’s market is expected to last through 2021 and into 2022 as buyers from large cities discover the abundant charms of Eldorado. Sotheby’s Santa Fe office sold homes to buyers from 39 states in 2020. I found that number astonishing as buyers have historically been from the West. The largest migration in history is well underway..

In February:

5 Active Listings

9 Under Contract

10 Sold

$245 was the average price per square foot last month.  This has ranged between $214 and $259 over the last six months. 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.

6 – were the average days on the market in February.  These are the fewest days in the last 15 years (that is how far back our MLS goes). These are the number of days it took for sellers to accept a contract – not the days from contract to closing.

101% – is what sellers received of their listing price last month. This is the price in which the home was listed when it sold, not necessarily the original listing price.  This has ranged from 97% – 101% over the last 6 months.  More and more properties are selling over the asking price.

$524K average listing price

503K average sales price

– 0.5 months of inventory – 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. Six months indicates a balanced market between buyers and sellers. Less than 6 months means a seller’s market, more than 6 months means a buyer’s market. This is about  a 2 week supply.

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

Number of Homes For Sale vs. Sold vs. Pended (Sep. 2020 – Feb. 2021)


Average Price per SQFT (Sold) (Sep. 2020 – Feb. 2021)


Avg Days On Market & Sold/List Price % (Sep. 2020 – Feb. 2021)


Average Price of For Sale and Sold (Sep. 2020 – Feb. 2021)


Months of Inventory Based on Closed Sales (Sep. 2020 – Feb. 2021)