This is the first of my monthly Estes Park Real Estate Market reports. Every month, I will provide the inside scoop on what is really going on with real estate here in Estes Park. I’ll be following median prices of homes, condos and vacant land within the zip code of Estes Park. Median price is a better indicator of where the market is headed as it is not heavily influenced by the extremes. Selling an extra million dollar house or two is not going to have as much of an effect on the median price as it would on the average price.
These reports will exclude the areas of Glen Haven, Drake, Pinewood Springs, Big Elk Meadows, and Allenspark. These individual areas have extremely unique characteristics and very low turnover which can easily result in skewed statistics. Excluding these areas will result in a more accurate picture of what is actually happening in Estes Park.
Single Family Homes
194 – Active on the market (17 less than a month ago)
11 – Sold in July (1 less than last month and 6 less than July 2007)
23 – Currently Pending
$350,000 – Median Price of trailing 12 months of sales
$700,000 – Most expensive home sold in July
$190,000 – Least expensive home sold in July
Condominiums and Townhouses
146 – Active on the market (17 less than a month ago)
6 – Sold in July (3 less than last month and 5 less than July 2007)
44 – Currently Pending
$271,000 – Median Price of trailing 12 months of sales
$232,000 – Most expensive condo sold in July
$139,000 – Least expensive condo sold in July
Vacant Land
74 – Active on the market (2 less than a month ago)
2 – Sold in July (2 more than last month and 2 less than July 2007)
7 – Currently Pending
$165,000 – Median Price of trailing 12 months of sales
$350,000 – Most expensive lot sold in July
$180,000 – Least expensive lot sold in July
Seeing the inventory of active listings decline is a very good sign of a healthy or improving market. Also, the median prices over time are also staying steady which is showing that the homes that are selling are holding their prices. The only negative statistic I see is that we are selling fewer homes than we have in years previous. Feel free to add your comments about this post below.
