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Located in a small community of fine homes and large acreages, this 10 acres of land has outstanding views in all directions. Situated on the southwest side of the mountain, the elevated building site is perfect for a high-end home with lots of windows. Public utilities including electricity, water, and sewer available at the lot line. Conservation easement on the top half of the subdivision prevents any building and provides access to the top of the mountain for each owner.

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Great location away from the main roads with outstanding views out the front door. Don’t miss out on this well-appointed 3-bedroom one-level floor plan (including a master suite) with plenty of space and lots of light. The attached garage features abundant built-in storage. Buyers must qualify with the Estes Park Housing Authority by earning less than Larimer County Median Income adjusted for size of household.
Effective purchase price after special financing through Housing Authority is $185,000!

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Estes Park Real Estate Statistics May  2015

I have to say that this summer has been absolutely amazing so far in regards to the weather and how green everything is. I can’t remember a summer where the grass has grown as much as it has this year and stayed green as late into the season as it has this year. The wildflowers all over town and especially in the park have been especially spectacular. If you haven’t been in town enjoying this summer so far, you are definitely missing out.

Enough about the weather. We all know how great Estes Park is…otherwise you probably wouldn’t be reading this blog post!

Home sales are up 37.5% in first half of the year compared to last year. Condominium sales are up 95% in the same comparison. In addition, we have 34% less homes on the market at this time compared to exactly one year ago and 51% less condominiums available for sale. This is a tremendous amount of pressure on prices which should continue to rise in the lower price ranges and should also be putting some upward pressure on the mid range homes and condos as well.

The puzzle still remains as to why our luxury home market has not kept up with the pace. We still have only sold 1 Million Dollar home this year and a total of 2 sales in this price range in the past 12 months. At some point I’m predicting this price range will break loose into several sales all at once, but I’m on the edge of my seat to see whether it is the homeowners reducing their price to meet demand or if it will be the buyers deciding to make offers to make something happen. Stay tuned and we’ll keep a close eye on things for you.

Advice for buyers

Here is a 4 step check list to consider if you are thinking about buying a home in the area:

  1. Get pre-approved with a mortgage broker (if you are buying with cash, figure out what your budget is).
  2. Decide what your priorities are in your wants/needs list. In this market, you most likely will need to compromise somehow in order to land a home.
  3. Get a Buyer’s agent working on your side of the transaction who will be watching the market daily for properties that match your criteria. Not only will the agent help you find your property, but will help you figure out ways to structure the offer to save you money in the process.
  4. Take decisive action when you see something you like. Great properties at great prices don’t last long in this market anymore.

Advice for Sellers

With the high demand for homes and condominiums and low amounts of inventory, you may be shocked to hear that the average time on the market for homes that are currently for sale is over 200 days. This tells me as plain as day that there are a lot of home sellers that are overpriced. If you know someone who has their property on the market and they have been on the market more than 6 months, be sure to break it to them gently that their property is probably overpriced.

Single Family Homes

111 – Active on the market (9 more than last month and 56 less than this time last year)
23 – Sold in June (3 more than month and 5 more than June 2014)
34 – Currently Pending (the same as last month and 8 less than this time last year)
$355,000 – Median Price of trailing 12 months of sales
$787,500 – Most expensive home sold in June
$158,000 – Least expensive home sold in June
6.3 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

49 – Active on the market (1 less than last month ago and 51 less than this time last year)
19 – Sold in June (7 more than last month and 12 more than June 2014)
19 – Currently Pending (4 less than last month and 12 more than this time last year)
$260,000 – Median Price of trailing 12 months of sales
$400,000 – Most expensive condo sold in June
$110,000 – Least expensive condo sold in June
4.0 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

99 – Active on the market (2 less than last month and 24 less than this time last year)
0 – Sold in June (7 less than last month and 4 less than June 2014)
9 – Currently Pending (1 more than last month and 15 less than this time last year)
$160,000 – Median Price of trailing 12 months of sales

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Estes Park Real Estate Statistics May  2015

Estes Park continues to impress anyone who is watching the critical statistics showcasing the relative health of our local real estate market. The summer season is in full swing in Estes Park as evidenced by the number of people buying real estate and the numbers look a little ridiculous. For example:

  • The number of single family homes available for sale on the market are down 33% over last year at this time. If you look strictly at homes under $500,000, that number is 57% less than last year.
  • The number of single family sales to date is up 40% vs this time last year and condos are up 80%.
  • Condominiums that offer full time living options (not short term rental or income condos) are in very short supply on the lower end of the price spectrum.

What do all these stats mean? I’m confident that prices will continue to increase significantly over the next 6 months for single family homes under $500,000 and condominiums under $400,000.

We are seeing multiple offers on many properties that come on the market. As a result, both buyers and sellers are in a greater need professional representation to help them keep as many dollars in their pockets. With increased excitement and pressures among buying and selling real estate, the possibility of buyer’s paying too much and sellers not asking enough raises exponentially (granted, both aren’t going to happen in the same transaction, but you know what I mean).

Advice for Buyers

With multiple offers on most affordable properties, the strategy for finding a home shifts drastically the types of real estate market Estes Park has been in for the past few years. Speed is definitely a major factor, however, there are many other ways to structure an offer to make your offer more attractive than other buyer’s who competing with you. Having a trusted buyer’s agent working only on your side of the transaction increases your chances of winning in a multiple offer situation.

Advice for Sellers

There is huge demand for properties under $500,000. With this huge demand comes more pressure to position your property just right to generate the highest offers possible while not overpricing your property and driving buyers away. We can help you with suggestions on how to land right in the sweet spot and meet your goals of selling on your schedule. While pricing is a major part of this equation, there are many other factors we can help with as well.

Single Family Homes

102 – Active on the market (5 less than last month and 57 less than this time last year)
20 – Sold in May (7 more than month and 4 more than May 2014)
34 – Currently Pending (3 more than last month and 3 less than this time last year)
$345,750 – Median Price of trailing 12 months of sales
$509,250 – Most expensive home sold in May
$219,000 – Least expensive home sold in May
5.9 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

50 – Active on the market (3 more than last month ago and 43 less than this time last year)
12 – Sold in May (11 less than last month and 3 less than May 2014)
23 – Currently Pending (1 less than last month and 13 more than this time last year)
$262,000 – Median Price of trailing 12 months of sales
$455,000 – Most expensive condo sold in May
$155,000 – Least expensive condo sold in May
4.4 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

101 – Active on the market (3 more than last month and 19 less than this time last year)
7 – Sold in May (7 more than last month and 5 more than May 2014)
8 – Currently Pending (4 less than last month and 5 less than this time last year)
$157,500 – Median Price of trailing 12 months of sales
$296,000 – Most expensive land sold in May
$75,900 – Least expensive land sold in May

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Fantastic Riverfront Vacation Condo for sale

Fantastic riverfront vacation condominium just minutes from the less-traveled Fall River entrance to the National Park and many restaurants and walking trails nearby. Vaulted ceilings and lots of windows look out on the banks of Fall River. On-site management handles all marketing, cleaning, maintenance, and HOA responsibilities making this a very easy property to own […]

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Estes Park Real Estate Market Statistics for April 2015

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Monthly real estate statistics report for Estes Park, Colorado detailing what is going on in the local real estate market for April 2015

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Great Floor Plan and Plenty of Space in this Home for Sale

This 4 bedroom home needs no work to be done and is priced at only $320,000! Homes In this price range in this condition have been flying off the shelves lately so don’t delay! This home has a great floor plan with plenty of storage, a large family room downstairs plus living room, efficient baseboard […]

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Custom Built Home for Sale

This custom built home on almost an acre of land has a lot of great features you won’t find anywhere else in this price range! Massive great room with open floor plan from kitchen to the living room plus three bedrooms all on the main level. Corian countertops, pergo flooring, procelain tile, cedar siding, and […]

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High Drive Cabin for Sale

High drive cabins are in high demand recently so act quick on this great cabin with the character you hope for and the space you desire. This home has what many are looking for including an open floor plan, spacious master suite, multiple decks, lots of windows, wood floors, and an oversized living room. The […]

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Estes Park Real Estate Market Statistics for March 2015

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Monthly real estate statistics report for Estes Park, Colorado detailing what is going on in the local real estate market for March 2015

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