The real estate market in Estes Park is showing both a seasonal dip in activity and continuing the trend of lower demand. There are far fewer buyers interested in purchasing property in Estes park than there were in previous years. Fortunately, median prices are holding relatively steady most likely influenced by the lack of urgency from sellers who aren’t motivated enough to drop their price and can afford to wait it out. Inventory is continuing to decrease in all categories which is a good sign. We do still have a very large amount of inventory in relation to the number of buyers. Heading into the holidays, I would again expect the number of sales to be down. However, we are seeing an increase in buyer traffic in recent weeks. Stay tuned to see how things play out.

Please take a look at the stats page on my web site for more graphical representations of this information. I’d be happy to discuss your personal situation and provide advice if you are considering buying or selling a property in the Estes Park area.

Single Family Homes

178 – Active on the market (3 more than a month ago)
6 – Sold in November (7 less than last month and 8 less than November 2007)
14 – Currently Pending (5 more than last month)
$366,500 – Median Price of trailing 12 months of sales
$679,000 – Most expensive home sold in November
$264,000 – Least expensive home sold in November

Condominiums and Townhouses

124 – Active on the market (3 less than a month ago)
7 – Sold in November (1 less than last month and 4 less than November 2007)
9 – Currently Pending (1 less than last month)
$265,000 – Median Price of trailing 12 months of sales
$404,000 – Most expensive condo sold in November
$120,000 – Least expensive condo sold in November

Vacant Land

84 – Active on the market (5 less than a month ago)
0 – Sold in November (4 less than last month and 2 less than November 2007)
3 – Currently Pending (2 more than a month ago)
$165,000 – Median Price of trailing 12 months of sales