Spring is an amazing time to be in Estes Park. While the weather may be a bit unpredictable, the end result is always spectacular. Snowy peaks, plentiful sunshine and the scent of flowers in the air help make this time of year a favorite among locals.

May is also a great time to be thinking about buying real estate. Many locals know that the peak selling season for real estate is in the peak of the summer so you’ll find the biggest selection of new listings coming on the market right about now. As we get fresh properties on the market, it is important to keep an eye on how our numbers are playing out.

• We are selling more real estate in Estes Park this year than last year. Condo sales and land sales are way up but single family are down a little. More buyers in the market place is a very good sign.
• Median prices of all three categories are all on an increasing trend at the moment. This means we are getting more sales in the upper price ranges than we have in recent years.
• Million dollar homes are getting some great activity lately. One million dollar home sold in April and there are 5 more currently pending. If all 5 of these close this year, it will be the best year for million dollar home sales since 2007.

Advice for Real Estate Buyers

We are in the middle of our annual flood of new listings coming on the market. There are plenty of fresh listings and I expect several more by the end of May. If you are sitting on the sidelines waiting for that perfect property to show up on the MLS, realize that you are not the only one doing the same thing. For the best priced properties in the best condition, expect competition. With competition, remember you will need to be aggressive to get the property. By being aggressive, I mean getting your offer in first and making sure your offer is solid.

Advice for Real Estate Sellers

As I mentioned above in my advice to buyers, there are plenty of great new listings coming on the market right now and there are buyers waiting for “the right one” to come on the market. Competition is fierce for the right listings. However, for every well priced aggressive property, there are 3-4 others that are matching the market and expecting to be sold just because they are coming on the market right before the summer. Don’t forget you will need to stay aggressive in order to get sold in a reasonable amount of time. Make sure it is abundantly clear your home provides the best value at your price point. Contact your real estate agent (if you are looking for suggestions, I know a guy…) for tips and strategies to get potential buyers to like your home best.

Single Family Homes

194 – Active on the market (9 more than last month and 19 less than this time last year)
7 – Sold in April (3 less than last month and 2 less than April 2011)
17 – Currently Pending (2 less than last month and 1 less than this time last year)
$339,500 – Median Price of trailing 12 months of sales
$1,100,000 – Most expensive home sold in April
$225,000 – Least expensive home sold in April
15.5 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

120 – Active on the market (16 more than a month ago and 1 more than this time last year)
8 – Sold in April (5 less than last month and 4 more than April 2011)
7 – Currently Pending (5 less than last month and 3 more than this time last year)
$247,500 – Median Price of trailing 12 months of sales
$480,000 – Most expensive condo sold in April
$168,500 – Least expensive condo sold in April
16.2 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

119 – Active on the market (4 more than a month ago and 2 more than this time last year)
0 – Sold in April (1 less than last month and 2 less than April 2011)
2 – Currently Pending (1 more than a month ago and 1 more than this time last year)
$175,000 – Median Price of trailing 12 months of sales

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