As summer draws to a close and the crowds dissipate during the weekdays, Estes Park couldn’t be more beautiful. With highs in the mid 70’s, a slight chill to the breeze, bull elk beginning to Bugle and many more signs of fall create a magical atmosphere in Estes Park. Be careful visiting Estes Park this time of year as you may never want to leave!
Speaking of never leaving…I know someone who can help you with your real estate needs! Whether you are looking to move-up and take advantage of the screaming deals in the upper price ranges or whether you are looking to buy your first home, there is a perfect storm for anyone looking to buy real estate in Estes Park. We currently have excellent interest rates, and almost guaranteed appreciation based on current market conditions.
The avoid sounding like a broken record, the trends from recent months in Estes Park are continuing to march forward. We have fewer and fewer properties on the market available for sale, steady demand compared to years passed, and an increasingly favorable market for sellers to take advantage of selling their homes at higher values than recent years. There continues to be a huge divide between the upper price ranges and the lower price ranges, but that tipping point is starting to increase. We are seeing much more activity in the $500,000 to $700,000 range recently as we expected.
Advice for Buyers
Be on the lookout for two things as we get deeper into the fall season. First, there is normally a small spike in properties coming on the market as people use their 2nd homes one last time in the summer and fall but want to sell before the winter. Secondly, with the end of the perceived selling season coming quickly, any properties that have been on the market for a longer period of time may be getting ready to lower their price or be more open to a lower offer.
Advice for Sellers
First of all, if you own a 2nd home in Estes Park and plan on winterizing your property, be sure to get that done soon. There is always a back-log for plumbers who get flooded with requests to winterize properties as soon as the first freezing overnight temperatures show up. Honestly, that could be any day now!
Secondly, if you think you have missed the summer season, you are right! Summer is long gone, but on the other hand, Fall usually brings plenty of buyers as well. In addition, we have plenty of buyers waiting on the sidelines for the “perfect” property. I would be more than happy to help you take advantage of the current market conditions to maximize your sale price.
Single Family Homes
98 – Active on the market (9 less than last month and 77 less than this time last year)
19 – Sold in August (1 less than month and 1 less than August 2014)
25 – Currently Pending (13 less than last month and 5 less than this time last year)
$359,000 – Median Price of trailing 12 months of sales
$698,500 – Most expensive home sold in August
$169,500 – Least expensive home sold in August
5.7 Months Supply of Inventory (Also called Absorption Rate)
Condominiums and Townhouses
42 – Active on the market (5 less than last month ago and 43 less than this time last year)
12 – Sold in August (2 less than last month and 4 less than August 2014)
20 – Currently Pending (4 more than last month and 4 more than this time last year)
$262,000 – Median Price of trailing 12 months of sales
$699,000 – Most expensive condo sold in August
$135,000 – Least expensive condo sold in August
3.4 Months Supply of Inventory (Also called Absorption Rate)
103 – Active on the market (6 less than last month and 17 less than this time last year)
2 – Sold in August (4 less than last month and 3 less than August 2014)
7 – Currently Pending (3 more than last month and 16 less than this time last year)
$135,000 – Median Price of trailing 12 months of sales
$215,000 – Most expensive land sold in August
$92,000 – Least expensive land sold in August