Happy New Year!
December stats for the Estes Park Real Estate Market continued the trends of a month ago. Available inventory shrunk again – this time by a significant amount in Single Family Homes, Condos and vacant land. Number of sales in each of the categories very closely mirrored November statistics. Also of note, I was surprised to see the most expensive home sold in December was under $400,000. Currently, there is only one home over $600,000 with a contract pending at this time. This just shows there is very little interest in the luxury market at this time.
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
154 – Active on the market (24 less than a month ago)
5 – Sold in December (1 less than last month and 12 less than December 2007)
12 – Currently Pending (2 less than last month)
$365,000 – Median Price of trailing 12 months of sales
$364,750 – Most expensive home sold in December
$259,000 – Least expensive home sold in December
Condominiums and Townhouses
97 – Active on the market (27 less than a month ago)
6 – Sold in December (1 less than last month and 1 less than December 2007)
8 – Currently Pending (1 less than last month)
$264,500 – Median Price of trailing 12 months of sales
$365,000 – Most expensive condo sold in December
$189,000 – Least expensive condo sold in December
Vacant Land
75 – Active on the market (9 less than a month ago)
1 – Sold in December (1 more than last month and 1 less than December 2007)
1 – Currently Pending (2 lessthan a month ago)
$165,000 – Median Price of trailing 12 months of sales
$250,000 – Most expensive lot sold in December
$250,000 – Least expensive lot sold in December
Year End 2008 statistics for the Estes Park Real Estate Market will be available on this blog in the next couple of days.
{ 2 comments… read them below or add one }
Interesting comment regarding luxury homes. They seem to be the hardest hit as we see a similar issue here in the Phoenix market – low buyer activity. In fact, last time I checked, homes over $1M saw around 5% only being under contract. We’ve seen substantial declines in custom homes as a result in certain areas but I imagine much more to come in other areas like Scottsdale.
Sam, thanks again for the perspective on your market there. It’s helpful and interesting to understand what is happening in other places.
David Lorti
David, Thanks for the comment. Funny thing is, we are seeing some good activity in the upper price ranges, just no one making offers. We’ll see how things shake out here in. I’m optimistic but only time will tell.