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Estes Park Real Estate Statistics June 2014

As we are coming into the middle of the summer in Estes Park, the real estate market is behaving in some interesting ways. While it appears we are having an excellent year with lots of transactions taking place, we aren’t quite matching up with the outstanding year we had last year. Here are a few of the highlights…some positive and some negative.

    1. Single Family median prices are at a new all time high at $381,250. This is fantastic news for our market place as it is showing improving momentum with mid and higher priced properties.
    1. Pending properties are at a very high number among single family homes and also vacant land (however, it should be noted that there are a large number of lots wrapped up in one transaction at the Fall River Village).
    1. List price to sale price ratio is averaging 7-8% off the list price. For example, properties with a list price of $100,000 would expect to sell around 92,000 to 93,000 if they followed the averages.
    1. Absorption rates have been climbing for 4 months in a row. Meaning there is not enough demand to keep up with the inventory coming on the market.
    1. Total number of sales through the first 6 months of the year are down 25% in single family homes, down 25% in condominiums, and down 39% in vacant land sales.

Advice for Sellers

Typically, July is an outstanding time to be on the market as it is one of the busiest time of year for buyers viewing property. Don’t let the extra activity go to your head. You still need to have an aggressive price to match up against your competition. Inventory is rising which means buyers have more to choose from. Make sure your property is positioned well, price right, and photographed in its best light possible. Otherwise, we’ll soon be having discussions on what to do when summer is over and your home hasn’t sold yet.

Advice for Buyers

Act decisively when you see a property you like. As a buyer, the last thing you want to be involved in is a multiple offer scenario. These are excellent for the seller, but terrible for the buyer. Keep in mind there are a lot of buyers in town this time of year (as you can see from the number of pending properties right now). With all these buyers, there is a good chance someone is looking at the same properties you are looking at. Keep watch for good deals on sites like this one (http://HomesInEstes.com/Search), and make that offer before someone else does.

Single Family Homes

167 – Active on the market (8 more than last month and 2 more than this time last year)
18 – Sold in June (2 more than last month and 5 less than June 2013)
42 – Currently Pending (5 more than last month and 10 more than this time last year)
$381,250 – Median Price of trailing 12 months of sales
$975,000 – Most expensive home sold in June
$130,900 – Least expensive home sold in June
12.4 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

100 – Active on the market (7 more than last month ago and 3 less than this time last year)
7 – Sold in June (8 less than last month and 7 less than June 2013)
7 – Currently Pending (3 less than last month and 12 less than this time last year)
$237,000 – Median Price of trailing 12 months of sales
$394,000 – Most expensive condo sold in June
$190,000 – Least expensive condo sold in June
13.5 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

123 – Active on the market (3 more than last month and 16 less than this time last year)
4 – Sold in June (2 more than last month and 1 more than June 2013)
24 – Currently Pending (11 more than last month and 19 more than this time last year)
$146,000 – Median Price of trailing 12 months of sales
$205,000 – Most expensive land sold in June
$126,000 – Least expensive land sold in June

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1795 Silver Tree

Excellent deal in an ‘up and coming’ neighborhood with public water and sewer available and easy paved access. Accommodations Zoning provides flexible options for short term rentals. Not far from the National Park main entrance without venturing through downtown. Big views to the Mummy Range, southern exposure and gently sloping lot perfect for a walk-out basement. Several trees on the lot provide shade and wind protection. Make an offer!

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This home was lovingly built by the current owner with great care and detail to the woodwork. It has a warm rustic feel with weathered pine floors throughout the house, vaulted ceilings covered with tongue-and-groove pine, and wood wainscoting. The oversize windows feature views of Longs Peak, Twin Sisters, and Fish Creek. The ensuite master bedroom has a walk-in closet and plenty of room for a sitting area. There is abundant storage space in the kitchen and tons of built-in storage in the garage.

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This turn-key property has it all! Easy access to over 2 acres of super-private, pristine horse property with both wooded and meadow areas and a tiny creek running behind the house. Enjoy living in this log-sided home with vaulted ceilings, Pergo wood floors, a wood stove, and large windows that let the sunlight in. The house has many updates including sliding glass doors to an oversized back porch and fenced in yard. The barn includes a fenced in area, hay storage, workshop,and two-horse stalls. Just bring your horses and move right in!

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Estes Park Real Estate Market Statistics for May 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 May 2014

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