February turned out to be another solid month for single family homes regarding what is selling. Not only were we up again in the numbers of homes sold vs last year at this time, we are also way up in the number of pending properties. Condos continue to match or come close to matching last years production.
One thing that is starting to worry me a little bit is the amount of inventory we have on the market. We are seeing more properties come on the market than we are seeing leave the market. If this trend continues, there will be even more downward pressure on home values.
On the flip side, if you are on the sidelines waiting for a good deal to come along, pay very close attention in the next couple of months. There are others just like you waiting for the best deal to come along. For example, there was a home that came on the market 2 weeks ago that was priced very attractively. Within the first week, the property had 5 offers. If you see something you like come into your price range, make sure you act quickly or you may just miss out.
If you would like to see a more graphical 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
177 – Active on the market (Same as last month and 17 more than this time last year)
6 – Sold in February (2 Less than last month and 2 more than February 2009)
18 – Currently Pending (7 more than last month and 10 more than this time last year)
$342,106 – Median Price of trailing 12 months of sales
$435,000 – Most expensive home sold in February
$273,000 – Least expensive home sold in February
Condominiums and Townhouses
96 – Active on the market (10 more than a month ago and 5 less than this time last year)
5 – Sold in February (same as last month and 1 less than February 2009)
7 – Currently Pending (1 less than last month and 3 less than this time last year)
$222,000 – Median Price of trailing 12 months of sales
$285,000 – Most expensive condo sold in February
$120,000 – Least expensive condo sold in February
Vacant Land
105 – Active on the market (3 more than a month ago and 28 more than this time last year)
0 – Sold in February (Same as last month and same as February 2009)
1 – Currently Pending (1 more than a month ago and 1 less than this time last year)
$105,000 – Median Price of trailing 12 months of sales
0 – Most expensive Lot sold in February
0 – Least expensive Lot sold in February
