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Estes Park Real Estate Statistics January 2015

Last month, I mentioned we are living in Exciting times in the Estes Park real estate market! January was a record month for sales in both condominiums and single family homes. Since I began keeping track in 2008, January 2015 was the busiest on record for the number of properties sold!

In addition, the absorption rate is the lowest I’ve ever seen it in Estes Park. The National Association of Realtors tells us that with 6 months of inventory, a real estate market is balanced and should see moderate appreciation over time. Our local market is hitting 6.5 months worth of inventory for single family homes and 5.3 months for condominiums. The more revealing story describing our real estate market is that homes under 500,000 have an average of 3.1 months of inventory but homes over 500,000 have 16.8 months worth. What this means is that prices will be accelerating at the bottom of the market and prices at the top will continue to slide in the near future.

Advice for Buyers

Do you have someone on your side of the transaction working for you? Even with the technologies available online for today’s consumers, it is still difficult to stay on top of the best properties coming on the market. With today’s low inventories in the inexpensive price ranges, great properties at attractive prices are selling almost immediately. A dedicated Buyers agent can be a huge asset to be your local representative keeping watch out for available properties that fit what you are looking for.

Advice for Sellers

If you have been waiting for the market to change before selling your home, now could be the time. The market factors have shifted for many people and there is now extremely low inventory in certain price ranges. You won’t need to wait for summer to get people looking at your home if you are in the right price range. Give me a call for a free consultation on what is the best move for you and your property.

Single Family Homes

105 – Active on the market (10 less than last month and 22 less than this time last year)
13 – Sold in January (1 less than month and 7 more than January 2014)
23 – Currently Pending (9 more than last month and 4 more than this time last year)
$360,000 – Median Price of trailing 12 months of sales
$1,059,000 – Most expensive home sold in January
$230,000 – Least expensive home sold in January
6.5 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

49 – Active on the market (11 less than last month ago and 14 less than this time last year)
10 – Sold in January (1 less than last month and 7 more than January 2014)
17 – Currently Pending (1 more than last month and 6 more than this time last year)
$247,500 – Median Price of trailing 12 months of sales
$440,500 – Most expensive condo sold in January
$144,500 – Least expensive condo sold in January
5.3 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

99 – Active on the market (6 more than last month and 2 less than this time last year)
2 – Sold in January (1 more than last month and 1 more than January 2014)
18 – Currently Pending (3 more than last month and 16 more than this time last year)
$160,000 – Median Price of trailing 12 months of sales
$70,000 – Most expensive land sold in January
$65,000 – Least expensive land sold in January

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1950s Log Home

This quintessential log cabin is part of an attractive mini-ranch that includes a pond, small creek, almost 3 acres, beautiful aspen trees, horse facilities, easy access and great views of the Mummy Range. Manage your ranch from your three car garage and large workshop. The 1950’s style classic log home features pine wood paneling and built-ins plus a unique two-sided fireplace. The property is zoned A-1 which allows more cabins to be added to the property. Separate small buildable lot included.

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Estes Park Real Estate Statistics December 2014

Happy New Year! A fresh start to the new year is always an exciting time in the local real estate market in Estes Park. The slate is washed clean and there is no telling how the many variables of the real estate market and the economy will shape up. If the recent trends are any indication, we are in for an exciting ride! Could this be the year you finally pull the trigger and buy a home in Estes Park? Perhaps you’ve been waiting for the perfect opportunity to sell.

Absorption rate for the entire market is as close to a seller’s market as I have ever seen it. What this means is that the relationship of supply and demand is tilting the market more towards sellers being in control than buyers. Sellers have more power to negotiate more favorable terms, spend less time waiting for a buyer to come along and ultimately get more money for their properties.

Unfortunately, while the absorption rate for the whole market is improving significantly, it is not the case in every price range. There is huge difference between properties under $500,000 and those over $500,000. The lower price point has an almost extreme shortage of well-priced properties in good shape while higher priced properties all over Estes Park are sitting on the market wondering why nobody is interested in buying their home.

Advice for Buyers

Estes Park’s “tale of two markets” continues in the new year.

If you are considering purchasing a luxury home, there are a lot of fantastic properties that keep lowering their prices to generate interest. With a little diligence, you should be able to find an outstanding deal on a home that may have cost you hundreds of thousands more just a few years ago. Jumbo loans are also easier to obtain and rates are still outstanding.

If your budget is a little more modest, you will most likely be in competition with a lot of other people looking at the same few listings on the market. When a good one comes along, swift action is necessary to be sure you get a chance at the property. We have ways to make sure you get notified as soon as there is a matching property that fits your needs.

Sellers

Just because the market is improving does not mean you can ignore common sense. The highest offers are being generated by properties in top shape and priced well. I could point to several properties that have been on the market for YEARS (no exaggeration) because they are overpriced. Let us help you get your home sold in a reasonable amount of time for the most amount possible in today’s market. To hit that sweet spot, you need a local expert and a proven marketing plan to get the job done.

Single Family Homes

115 – Active on the market (7 less than last month and 14 less than this time last year)
14 – Sold in December (1 more than month and 1 less than December 2013)
14 – Currently Pending (11 less than last month and 2 less than this time last year)
$362,500 – Median Price of trailing 12 months of sales
$537,600 – Most expensive home sold in December
$154,000 – Least expensive home sold in December
7.4 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

60 – Active on the market (14 less than last month ago and 4 less than this time last year)
11 – Sold in December (6 more than last month and 5 less than December 2013)
16 – Currently Pending (2 more than last month and 5 more than this time last year)
$243,250 – Median Price of trailing 12 months of sales
$400,000 – Most expensive condo sold in December
$120,000 – Least expensive condo sold in December
6.9 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

93 – Active on the market (14 less than last month and 14 less than this time last year)
1 – Sold in December (2 less than last month and 1 more than December 2013)
15 – Currently Pending (1 less than last month and 11 more than this time last year)
$164,000 – Median Price of trailing 12 months of sales
$122,000 – Most expensive land sold in December
$122,000 – Least expensive land sold in December

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A-Frame Cabin

If you have every dreamed of owning an A-Frame cabin in the mountains, your dream is about to come true!

This home has a fantastic mountain cabin feel with big views and plenty of privacy. Featuring 3 bedrooms plus two bonus rooms, this home has plenty of space. An oversized storage room offers opportunities for adding more sleeping space, a large family room, or a workshop. Wood beams, a spiral stair case, massive moss rock fireplace, and impressive views add to the mountain cabin flavor.

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Spacious Free-Standing Condo for Sale

Here’s your chance at a spacious multi-level free-standing condominium with very low maintenance. The flexible floor plan features a split-level great room with huge views of Longs Peak well framed through the picture windows. Mingle among the rock outcroppings on multiple decks surrounding the house including an ultra private deck off the kitchen. Great value […]

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Estes Park Real Estate Market Statistics for November 2014

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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 November 2014

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Fantastic Home in a Great Location for Sale

Fantastic value priced home with a great location and easy access in Estes Park. This 4 bedroom home is completely updated and features a 2nd kitchen in lower level family room. The main level features a big and beautiful kitchen with granite counters, hickory cabinets, hardwood floors, tile backsplashes, stainless steel appliances and an open […]

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Impressive End Unit Condo in Northridge Meadow for Sale

An impressive end unit condo at Northridge Meadow has fantastic windows that flood the living spaces with light. The condo has been updated very recently with attractive quartz kitchen countertops, new stainless steel appliances, hot water heater, and storm door. Three full bedrooms and three full baths (2 ensuite) help make overnight guests super comfortable. […]

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Solitude Cabin for Sale

When it comes to two bedroom cabins in the mountains, they don’t get much better than this! Welcome to one of the best locations at Solitude! Surrounded on two sides by open space and privacy, this setting stands head and shoulders above other options in the same price range. With a bedroom and bath on […]

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Estes Park Real Estate Market Statistics for October 2014

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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 October 2014

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