Welcome to 2012! Happy New Year!

As I mentioned in last month’s market report, you never know how the real estate market is going to react to the holiday season. As far as closings are concerned, single family home sales were down in comparison with last year, but condominium sales were up slightly. The amount of buyers in town seemed to be up in comparison with recent months so I am optimistic that we’ll have a great start to 2012!

Advice for Real Estate Buyers

Over the next 3 months, you’ll see 2 things. First, there will be price reductions from the homes that have been on the market for a while. Second, there will be new homes coming on the market in the spring to be ready for the summer surge of buyers. In both cases, when you see something you like, jump on it. Don’t talk yourself out of making an offer by guessing how the seller will react. I have seen several multiple offer scenarios within the last month or two where buyers lost out on a great property because they did not offer enough or act quick enough. The only way to be sure you get the property you want is to act quickly and decisively. While mortgage rates are low and depreciation seems to be leveling out, now is the time to buy.

Advice for Real Estate Sellers

The first 3 months of the year are typically slow months for real estate sales, but I would be careful not to ignore them completely. With the activity I’ve seen in the trenches, I can attest to the fact that there are buyers out there right now in all price ranges waiting for the right property. If you are already on the market, consider a price reduction to get back in front of buyers once again. If you are thinking about waiting to time the market by placing your home on the market in late spring, you may miss out on an opportunity to snag a buyer before more competition hits the market. Whatever you do, be sure to be aggressive.

Single Family Homes

164 – Active on the market (11 less than last month and 35 less than this time last year)
7 – Sold in December (13 less than last month and 3 less than December 2010)
13 – Currently Pending (15 less than last month and 5 less than this time last year)
$325,000 – Median Price of trailing 12 months of sales
$569,000 – Most expensive home sold in December
$194,902 – Least expensive home sold in December
12.2 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

98 – Active on the market (28 less than a month ago and 5 more than this time last year)
7 – Sold in December (same as last month and 1 more than December 2010)
12 – Currently Pending (2 less than last month and 4 less than this time last year)
$248,750 – Median Price of trailing 12 months of sales
$435,000 – Most expensive condo sold in December
$140,000 – Least expensive condo sold in December
15.6 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

114 – Active on the market (14 less than a month ago and 9 more than this time last year)
2 – Sold in December (same as last month and the same as December 2010)
3 – Currently Pending (1 less than a month ago and 1 more than this time last year)
$162,450 – Median Price of trailing 12 months of sales
$180,000 – Most expensive Lot sold in December
$34,000 – Least expensive Lot sold in December

As we pass Thanksgiving and head into December, we have a lot to be thankful for in Estes Park. The Holiday season is finally here and the end of the year is just around the corner. The end of the year can be a strange time in the real estate market. As a real estate agent, I never know if there will be lots of activity or plenty of time to spend with family and friends. This year, I’m hoping for a good balance between the two.

November continued the trend of an improving market for single family homes in Estes Park. The two big factors proving this point are that we are seeing more sales happen than ever before at this time of year and we are seeing the amount of available inventory continuing to drop faster than normal. In addition, we are seeing action in the million dollar plus range with a property selling for $1,045,000 as well as a property listed for $1,150,000 go under contract within 10 days of being on the market. If these trends continue, we are going to start seeing appreciation in our market instead of depreciation.

Condos are doing well, but not quite as well as single family homes. We are still seeing increasing inventory and sales are staying consistent. Median price is continuing to rise and has risen significantly since the beginning of the year. This means more high end condos have been selling well recently.

Advice for Real Estate Buyers

As I mentioned last month, keep in mind there are other buyers in the marketplace waiting (just like you) for the right deal to come along. Over the past month, I have been involved in multiple offer scenarios with two different properties. When you see a property that is “just right,” you need to act quickly. Waiting 48 hours or more may be too late.

Advice for Real Estate Sellers

If you don’t have a price that is compelling enough for a buyer to see your home in person, you might as well wait until next spring or longer before thinking about selling your home. Traditionally, there are less buyers in the market during the first few months of the year, but those buyers are usually much more motivated. In order to grab their attention (and therefore get your property sold), you need to be painfully obvious that your property carries more value than your competition.

Single Family Homes

175 – Active on the market (11 less than last month and 41 less than this time last year)
20 – Sold in November (11 more than last month and 6 more than November 2010)
13 – Currently Pending (15 less than last month and 5 less than this time last year)
$325,000 – Median Price of trailing 12 months of sales
$1,045,000 – Most expensive home sold in November
$125,000 – Least expensive home sold in November
13 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

126 – Active on the market (11 more than a month ago and 25 more than this time last year)
7 – Sold in November (2 less than last month and the same as November 2010)
12 – Currently Pending (2 less than last month and 4 less than this time last year)
$250,000 – Median Price of trailing 12 months of sales
$330,000 – Most expensive condo sold in November
$158,000 – Least expensive condo sold in November
20.3 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

128 – Active on the market (2 more than a month ago and 16 more than this time last year)
2 – Sold in November (1 more than last month and 1 more than November 2010)
3 – Currently Pending (1 less than a month ago and 1 more than this time last year)
$157,450 – Median Price of trailing 12 months of sales
$280,000 – Most expensive Lot sold in November
$200,000 – Least expensive Lot sold in November

Estes Park had its first major snow storm of the season officially marking the end to the fall season. Typically, the end of our beautiful fall weather coincides with a significant slow down in real estate activity. While single family home activity definitely followed that trend, condos have seen a recent increase in activity. In all, I am still very pleased with how our market is faring in comparison with many other resort communities across the nation. Here are a few highlights of what is going on in the Estes Park real estate market:

• Single family absorption rate is the lowest it’s been since February 2009. Absorption rate can be explained by the relationship between how many properties are available for sale and how many have sold within the last 12 months. Condos are lagging behind but have been seeing a huge increase in demand in the last couple of months.
• The number of single family home sales took a dip in October. Both stock market and uncertainty surrounding the national debt have caused some people to remain on the sidelines in the single family home market. This could also explain the recent increase in condo sales from buyers fed up with the volatility of the stock market in favor of more tangible assets with income.
• The number of single family homes for sale continues to fall at a faster rate than normal this time of year. We are going on 6 months in a row having less inventory than the same month in the previous year. We are currently at 78% of the number of homes we had on the market at this time last year.
• The number of contracts pending remains high. We have 40% more single family homes under contract now than at this time last year and 75% more condos now vs last year.

Advice for Real Estate Buyers

First, don’t forget that there are other buyers keeping an eye on the Estes Park real estate market just like you. In the past couple of weeks, I have represented buyers in a multiple offer scenario and have had a buyer ready to make an offer only to find out it had just been put under contract. If you see a property you like, don’t delay thinking you have plenty of time. Do your research, ask your questions, but don’t miss out because you waited too long.

Also, if you are thinking about buying a home for investment income or about buying a business, buying now gives you plenty of time to market the property and have it ready for next summer’s peak season.

Advice for Real Estate Sellers

If you haven’t noticed, the peak selling season for 2011 is over. We have entered into the time of year when there are far less people looking to buy property in Estes Park. If you are fortunate enough to be able to wait until next spring, there will be more demand at that time in which case you may have a better chance at getting a higher offer.

I’ve recently performed some intense research on properties who price their home right to start vs homes that sat on the market long enough to need a price reduction. The homes that priced their property correctly resulted in an average of only 100 days on the market. Those who missed the mark, had to drop their price an average of 23% and faced over 400 days on the market. Keep in mind that these numbers came only from properties that SOLD. Properties that have been on the market were not included in these numbers.

If you need to sell now, you absolutely need to be aggressive with your price and provide more value than any of your competition. I can not stress this point enough.

Single Family Homes

186 – Active on the market (34 less than last month and 50 less than this time last year)
9 – Sold in October (6 less than last month and 8 less than October 2010)
28 – Currently Pending (3 more than last month and 8 more than this time last year)
$325,000 – Median Price of trailing 12 months of sales
$710,000 – Most expensive home sold in October
$120,000 – Least expensive home sold in October
14 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

115 – Active on the market (3 less than a month ago and 2 more than this time last year)
9 – Sold in October (same as last month and 2 more than October 2010)
14 – Currently Pending (8 less than last month and 6 more than this time last year)
$247,500 – Median Price of trailing 12 months of sales
$460,000 – Most expensive condo sold in October
$157,000 – Least expensive condo sold in October
19.4 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

126 – Active on the market (10 less than a month ago and 6 more than this time last year)
1 – Sold in October (1 less than last month and same as October 2010)
4 – Currently Pending (1 more than a month ago and 3 more than this time last year)
$179,500 – Median Price of trailing 12 months of sales
$179,500 – Most expensive Lot sold in October
$149,500 – Least expensive Lot sold in October

The snow is flying in Estes Park this weekend. While it may seem early to the rest of the nation, those familiar with Estes Park know full well that there is plenty of beautiful fall weather yet to come.

The Estes Park Real Estate market is seeing a flurry of activity lately as well (yes, the pun is intended). Specifically, I have seen much more buyer activity in the last few weeks than I saw in August and early September. There is more real estate activity right now than people think.

September was another strong month statistically. We matched the number of homes sold from last year and exceeded last year in condominiums. The number of properties available continues to dwindle not only because of the time of year, but also compared to this time last year which is a good thing.

Average days on the market for active properties is continuing to climb yet the average days on the market for sold properties is declining. This combination tells me that new properties that are priced well are getting the most attention. Properties that have been on the market a long time are continuing to sit with no offers.

So what does this compilation of statistics mean for buyers and sellers?

Buyers should be ready to take advantage when the price drops significantly on that property you have been watching. In addition, properties that have been on the market a long time may simply be waiting for someone to make an offer. In either scenario when you see a deal, you need to take advantage of it. You should always assume that there are other buyers considering the same property or you run the risk of losing out even when it doesn’t seem like there are any other buyers.

Sellers need to be aggressive with their marketing and your price. Even though our available inventory is decreasing, the number of properties being sold is not keeping up with the amount of homes available for sale. Therefore, expect to sell your property for less than you anticipate. If you match the price of what your competition is offering, you run a high risk of sitting on the market for a long time.

Single Family Homes

220 – Active on the market (12 less than last month and 25 less than this time last year)
15 – Sold in September (1 less than last month and same as September 2010)
25 – Currently Pending (4 less than last month and 6 more than this time last year)
$325,000 – Median Price of trailing 12 months of sales
$825,000 – Most expensive home sold in September
$70,000 – Least expensive home sold in September
16.2 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

118 – Active on the market (14 less than a month ago and 3 less than this time last year)
9 – Sold in September (1 more than last month and 3 more than September 2010)
22 – Currently Pending (3 more than last month and 13 more than this time last year)
$247,750 – Median Price of trailing 12 months of sales

$270,000 – Most expensive condo sold in September
$180,000 – Least expensive condo sold in September
20.1 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

136 – Active on the market (9 less than a month ago and 15 more than this time last year)
2 – Sold in September (same as last month and same as September 2010)
3 – Currently Pending (1 less than a month ago and 3 more than this time last year)
$155,000 – Median Price of trailing 12 months of sales
$155,000 – Most expensive Lot sold in September
$149,500 – Least expensive Lot sold in September

September is here and with it begins a fantastic season of festivals and beautiful weather in Estes Park. Be sure to check out the Scottish-Irish Highland Festival as well as the Autumn Gold Festival and Elk Fest all coming up this month. Fall is an excellent time to explore Estes Park as there are typically less people in town (especially during the week) and the weather is still outstanding.

The Estes Park real estate market is usually very busy as well. Fall is typically known to have more luxury buyers coming through the doors. It is a great time to be looking for real estate as there are usually anxious sellers who missed selling their home during the peak of the summer season and decide to lower their price to avoid holding it over the slow winter months.

Regarding the market as a whole, our real estate statistics are continuing to get more and more healthy each month. Here are some highlights:

• August is the 4th straight month showing more homes sold this year vs the same month last year.
• Pending sales have been consistently higher than previous years.
• We have less single family homes for sale now than last year.
• The length of time properties are on the market before selling is getting smaller and smaller.
• The ratio of the sale price to the list price is higher than it has been traditionally.

The last two stats on this list tell the story that the properties that are selling are coming on the market with an aggressive price in order to sell. Once they get an offer, these same properties are negotiating strongly and sticking to their price as well. This is a very good sign for the market as a whole, but it also tells sellers that you need to be aggressive from the beginning.

Single Family Homes

232 – Active on the market (16 less than last month and 14 less than this time last year)
16 – Sold in August (1 less than last month and 1 more than August 2010)
29 – Currently Pending (6 more than last month and 3 more than this time last year)
$325,000 – Median Price of trailing 12 months of sales
$710,000 – Most expensive home sold in August
$259,000 – Least expensive home sold in August
17.1 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

132 – Active on the market (7 less than a month ago and 1 less than this time last year)
8 – Sold in August (3 more than last month and 4 more than August 2010)
19 – Currently Pending (2 more than last month and 9 more than this time last year)
$251,000 – Median Price of trailing 12 months of sales
$630,000 – Most expensive condo sold in August
$113,500 – Least expensive condo sold in August
23.3 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

145 – Active on the market (3 more than a month ago and 27 more than this time last year)
2 – Sold in August (2 less than last month and 1 more than August 2010)
4 – Currently Pending (same as a month ago and 2 more than this time last year)
$159,900 – Median Price of trailing 12 months of sales
$260,000 – Most expensive Lot sold in August
$248,000 – Least expensive Lot sold in August

Click here for even more Estes Park real estate statistics.

Contact me here if you would like more specific research on a specific price range or specific area in Estes Park. I love statistics so I don’t mind one bit!

Turmoil in the stock market and uncertainty in the national debt situation has everyone wondering how the future will turn out. There are many tough decisions to be made in Washington to decide what is best for our nation. The results of the decisions made will affect every part of this nation including resort communities such as Estes Park, Colorado.

I’m not even going to pretend to know what will happen in the future. However, I can point you to two key indicators that will have a huge impact on the health of our local real estate community.

1. Available properties for sale. Right now, we have less single family inventory than we had last year at this time. Condos and land inventory levels are still growing. Until inventory levels drop down to meet demand, competition among available properties for sale will continue to drive prices down. For price levels to flatten out and strengthen, sellers need to either reduce their prices to meet demand or remove their home from the market and wait for everyone else to do so. I can not stress enough that there is no middle ground here.
2. Properties sold. The number of sales need to increase from month to month. Right now, there are more buyers in the market than there have been in recent years. Ten out of the previous 12 months had increases in the number sales than the same month in the previous year. The reasons for this consistent increase in sales is due to pent up demand and due to the recent health in the stock market over the last couple of years (obviously excluding the past couple of weeks). My advice to buyers is to keep watch on the available deals as they are definitely available if you are looking for them. As long as our inventory is high, sellers will need to be compete heavily which will be a huge advantage in the next 6 months or so. A great place to start is my distressed list.

If you would like to see a more visual representation of how the market is doing, check out my Estes Park Real Estate Statistics page. Also, I would be happy to generate a more focused statistical analysis on the types of property you are interested in. Contact me here.

Single Family Homes

248 – Active on the market (1 less than last month and 17 less than this time last year)
17 – Sold in July (1 more than last month and 3 more than July 2010)
23 – Currently Pending (5 less than last month and 1 more than this time last year)
$325,000 – Median Price of trailing 12 months of sales
$780,000 – Most expensive home sold in July
$141,100 – Least expensive home sold in July
18.2 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

139 – Active on the market (6 more than a month ago and 6 more than this time last year)
5 – Sold in July (1 more than last month and 1 more than July 2010)
17 – Currently Pending (5 more than last month and 9 more than this time last year)
$245,000 – Median Price of trailing 12 months of sales
$417,500 – Most expensive condo sold in July
$165,000 – Least expensive condo sold in July
26.6 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

142 – Active on the market (9 more than a month ago and 21 more than this time last year)
4 – Sold in July (4 more than last month and 3 more than July 2010)
4 – Currently Pending (2 more than a month ago and 3 more than this time last year)
$135,500 – Median Price of trailing 12 months of sales
$159,900 – Most expensive Lot sold in July
$86,000 – Least expensive Lot sold in July

Summer is in full swing here in Estes Park! The Rooftop Rodeo is in town providing a huge increase in the number of cowboy hats to be found downtown. With the Rodeo and other summer festivals and events happening in July, we are in the midst of hosting the most amount of people in town than at any other time of the year. Along with the high number of people in town, the real estate market should also be at its peak for the year as well.

Single family homes are doing very well with another month of decreasing inventory compared with last year coupled with increased sales and pending sales. Continuing these trends will be essential to our recovery in home values. Supply needs to continue to decrease and demand must continue to increase before overall values can return to their normal upward trend over time.

Unfortunately, both vacant land and condominiums continue to struggle to attract demand. Inventory is up once again in both categories and there is much less demand seeking these types of properties.

Buyer Advice

Keep a close eye on the market. There are some excellent value properties coming available in all categories. There are plenty of potential buyers watching the market for these “best deals” and competition can get fierce. With outstanding mortgage rates still available, keep a watchful eye out for the property that is “just right” for you and don’t hesitate to make a move.

Seller Advice

The most successful sellers in this marketplace are those who choose to be aggressive with their price. Today’s buyer is a well-informed buyer and also tends to be very picky. When selling your property, you need to pay strict attention to the details as well. Eliminate every possible reason a potential home buyer may not want to see your home and price your property aggressively compared to your competition. Choosing not to follow this advice will position yourself along with all of the other properties languishing on the market waiting for that perfect buyer to come along.

If you would like to see a more visual representation of how the market is doing, check out my Estes Park Real Estate Statistics page. Also, I would be happy to generate a more focused statistical analysis on the types of property you are interested in. Contact me here.

Single Family Homes

249 – Active on the market (15 more than last month and 12 less than this time last year)
16 – Sold in June (1 less than last month and 3 more than June 2010)
28 – Currently Pending (4 more than last month and 7 more than this time last year)
$325,000 – Median Price of trailing 12 months of sales
$698,000 – Most expensive home sold in June
$175,000 – Least expensive home sold in June
17.3 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

133 – Active on the market (3 more than a month ago and 5 more than this time last year)
4 – Sold in June (1 less than last month and 4 less than June 2010)
12 – Currently Pending (5 more than last month and 4 more than this time last year)
$246,500 – Median Price of trailing 12 months of sales
$579,000 – Most expensive condo sold in June
$251,000 – Least expensive condo sold in June
20.9 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

133 – Active on the market (7 more than a month ago and 23 more than this time last year)
0 – Sold in June (1 less than last month and 3 less than June 2010)
2 – Currently Pending (2 more than a month ago and 1 more than this time last year)
$165,000 – Median Price of trailing 12 months of sales
$0 – Most expensive Lot sold in June
$0 – Least expensive Lot sold in June

Welcome to Summer! Estes Park is experiencing plenty of gorgeous weather lately and we are buzzing with activity both in the downtown area as well as the real estate market.

After a disappointing April, the statistics for the local real estate market have improved greatly in several categories. We are continuing to see excellent activity in the single family homes with more properties sold and more properties under contract than we saw last year. The amount of available properties is lower than last year which creates a very good trend line of decreasing inventory and increasing sales. We still have a long way to go to get back to a “healthy” market, but we definitely seem to have turned the corner.

Buyer Advice

If you are still waiting for the right time to buy, don’t wait too long. There is still a lot of inventory, some excellent values available, and very reasonable interest rates. As I mentioned above, the numbers are pointing to an improving market which creates an outstanding time to buy.

Seller Advice

Keep in mind that there are more buyers looking at homes and actually buying right now than there have been in the past several years. However, inventory is still high so you still need to be aggressive on your price compared to your competition. There is still plenty of time to get your property on the marketplace to take advantage of the summer rush of buyers.

If you would like to see a more visual representation of how the market is doing, check out my Estes Park Real Estate Statistics page. Also, I would be happy to generate a more focused statistical analysis on the types of property you are interested in. Contact me here.

Single Family Homes

234 – Active on the market (21 more than last month and 12 less than this time last year)
17 – Sold in May (8 more than last month and 9 more than May 2010)
24 – Currently Pending (2 less than last month and 7 more than this time last year)
$325,000 – Median Price of trailing 12 months of sales
$1,175,000 – Most expensive home sold in May
$60,000 – Least expensive home sold in May
17.3 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

130 – Active on the market (11 more than a month ago and 2 more than this time last year)
5 – Sold in May (1 more than last month and 2 less than May 2010)
7 – Currently Pending (2 more than last month and 1 less than this time last year)
$232,500 – Median Price of trailing 12 months of sales
$350,000 – Most expensive condo sold in May
$169,900 – Least expensive condo sold in May
20.9 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

126 – Active on the market (9 more than a month ago and 17 more than this time last year)
1 – Sold in May (1 less than last month and 1 less than May 2010)
0 – Currently Pending (1 less than a month ago and 1 less than this time last year)
$148,000 – Median Price of trailing 12 months of sales
$131,000 – Most expensive Lot sold in May
$131,000 – Least expensive Lot sold in May

Real estate statistics can be funny. Just when you think you can start to predict the future, you get a month like April. Estes Park home sales were down unexpectedly in comparison with previous months where we were starting to see some very positive signs of an improving market. We went from having our best month for single family homes since August 2007 to having the second slowest April on Record matching the dismal spring selling season of 2009 with only 9 sales.

On a positive note, we also have a ton of properties under contract right now which should translate into solid sales over the next few months.

In summary, we do know there is solid activity in the market place. Sellers who price their properties aggressively are getting offers. Buyers who have been sitting on the fence for quite some time are getting off and taking advantage of low interest rates and picking off the best value properties. Whether you are a buyer or a seller, give me a call to discuss your situation. I would be more than happy to provide some direction on how to take advantage of the current real estate market.

If you would like to see a more visual representation of how the market is doing, check out my Estes Park Real Estate Statistics page. Also, I would be happy to generate a more focused statistical analysis on the types of property you are interested in. Contact me here.

Single Family Homes

213 – Active on the market (22 more than last month and 4 more than this time last year)
9 – Sold in April (9 less than last month and 11 less than April 2010)
26 – Currently Pending (8 more than last month and 7 more than this time last year)
$325,000 – Median Price of trailing 12 months of sales
$950,000 – Most expensive home sold in April
$150,001 – Least expensive home sold in April
14.6 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

119 – Active on the market (14 more than a month ago and 1 less than this time last year)
4 – Sold in April (4 less than last month and 4 less than April 2010)
5 – Currently Pending (1 more than last month and 5 less than this time last year)
$235,000 – Median Price of trailing 12 months of sales
$393,000 – Most expensive condo sold in April
$159,900 – Least expensive condo sold in April
17.8 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

117 – Active on the market (9 more than a month ago and 15 more than this time last year)
2 – Sold in April (2 more than last month and 3 less than April 2010)
1 – Currently Pending (same as a month ago and 1 less than this time last year)
$138,000 – Median Price of trailing 12 months of sales
$555,000 – Most expensive Lot sold in April
$165,000 – Least expensive Lot sold in April

Excitement is an understatement in the Estes Park real estate market! We are finally seeing signs of an improving market instead of the steadily declining market we have seen for the past few years.

Here are the highlights of what the numbers are telling us:

• Estes Park sold 80% more homes this year than last year in the month of March which makes it the best March since I moved to town 9 years ago.
• Demand has also increased in the high end luxury real estate. We had another million dollar sale that occured in March. That makes 3 homes sold with a 7-figure price tag in roughly 7 months. Over the past 3 years, the Estes Park real estate market has sold approximately one million dollar home every 6 months.
• We have less available homes on the market than this time last year. This is the first time I have been able to say that since I began keeping stats in 2008. Having less inventory as demand is increasing translates into more stable and eventually increasing prices.
• There are currently less homes under contract than there were a year ago at this time, however, keep in mind that last year was the first time homebuyer’s tax credit which artificially spiked the demand. I am very encouraged to see us within 5 homes under contract compared to last year.

Keep watch over the next few months. If these trends continue, I may be able to announce the bottom of the real estate market for single family homes!

If you would like to see a more visual representation of how the market is doing, check out my Estes Park Real Estate Statistics page. Also, I would be happy to generate a more focused statistical analysis on the types of property you are interested in. Contact me here.

Single Family Homes

191 – Active on the market (6 more than last month and 5 less than this time last year)
18 – Sold in March (11 more than last month and 8 more than March 2010)
18 – Currently Pending (10 less than last month and 5 less than this time last year)
$325,000 – Median Price of trailing 12 months of sales
$1,200,000 – Most expensive home sold in March
$118,000 – Least expensive home sold in March
14.6 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

105 – Active on the market (12 more than a month ago and same as this time last year)
8 – Sold in March (6 more than last month and 3 more than March 2010)
4 – Currently Pending (5 less than last month and 8 less than this time last year)
$228,000 – Median Price of trailing 12 months of sales
$555,000 – Most expensive condo sold in March
$158,000 – Least expensive condo sold in March
17.8 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

108 – Active on the market (8 more than a month ago and 5 more than this time last year)
0 – Sold in March (1 less than last month and 1 less than March 2010)
1 – Currently Pending (same as a month ago and 2 less than this time last year)
$125,000 – Median Price of trailing 12 months of sales
$0 – Most expensive Lot sold in March
$0 – Least expensive Lot sold in March