After a dismal May, the Estes Park real estate market rebounded with more encouraging numbers in June. Contrary to many people’s perceptions, there are many people buying and selling homes in Estes Park.
Regarding single family homes, the number of homes sold, median price, and pending sales all reversed 2-month skids since April. Unfortunately, inventory (available properties for sale) is still increasing which means we are not in the clear by any means. Condominiums and Vacant Land seem to be tracking along well with Last year in most categories.
If you are considering selling your home, I am recommending you take a hard look at your motivation for selling. If you absolutely have to sell and sell quickly, you will need to be very aggressive with your offer price. If you are considering selling, and are fishing for that one perfect buyer to pay your price, please don’t list your home. The amount of inventory we already have far outweighs the amount of people looking to buy a home in Estes Park. Additional inventory will only decrease prices and increase the time it takes to sell a home.
Buyers, on the other hand, are in a very good position right now to negotiate and find some pretty amazing deals. In addition, mortgage rates are staying extremely low creating a huge buying opportunity for those ready to buy.
I am anticipating July numbers to be more similar to June than May as we are seeing some solid buyer activity in the Estes Park real estate market once again.
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
261 – Active on the market (15 more than last month and 32 more than this time last year)
13 – Sold in June (5 more than last month and same as June 2009)
21 – Currently Pending (4 more than last month and 8 more than this time last year)
$341,000 – Median Price of trailing 12 months of sales
$825,000 – Most expensive home sold in June
$108,000 – Least expensive home sold in June
Condominiums and Townhouses
128 – Active on the market (same as a month ago and 5 less than this time last year)
8 – Sold in June (1 more than last month and 1 less than June 2009)
8 – Currently Pending (same as last month and 1 more than this time last year)
$215,000 – Median Price of trailing 12 months of sales
$535,000 – Most expensive condo sold in June
$120,000 – Least expensive condo sold in June
Vacant Land
110 – Active on the market (1 more than a month ago and 5 more than this time last year)
3 – Sold in June (1 more than last month and 3 more than June 2009)
1 – Currently Pending (same as a month ago and 1 less than this time last year)
$123,375 – Median Price of trailing 12 months of sales
$310,000 – Most expensive Lot sold in June
$12,000 – Least expensive Lot sold in June
