Estes Park Real Estate is showing continued signs of improvement. We actually sold more single family homes this year than we did last year! Condos also did well matching last years production. The increase in activity that I mentioned in last month’s real estate market statistical update is continuing through this month and is more than compensating for our normal uptick in seasonal activity.
On the flip side of the coin, we are seeing more inventory coming on the market than we have demand for. We have more single Family Homes and more vacant land active on the market than we have seen in the last couple of years (so long as I’ve been keeping track at least). In order to keep time on the market to a minimum for these listings, we are going to need a substantial amount of them either sell or go off the market for one reason or another.
With the increased inventory, both sellers and buyers will have to change their methods for buying and selling proeprty. Sellers need to price their properties agressively and keep their properties in tip top condition in order to get attention from the limited number of active buyers in the market place. Buyers need to be on their toes and act quickly and decisively when they see a property that they do like (price and condition). There is a large number of buyers that are also waiting in the wings for that “perfect” property to come on the market.
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 on my web site. Also, I would be happy to generate a more focused statistical analysis on the types of property you are interested in. There are a number of ways to contact me here.
Single Family Homes
229 – Active on the market (31 more than last month)
13 – Sold in June (2 more than last month and 1 more than June 2008)
15 – Currently Pending (same as last month)
$345,000 – Median Price of trailing 12 months of sales
$729,000 – Most expensive home sold in June
$131,230 – Least expensive home sold in June
Condominiums and Townhouses
133 – Active on the market (8 more than a month ago)
9 – Sold in June (4 more than last month and same as June 2008)
7 – Currently Pending (7 less than last month)
$225,000 – Median Price of trailing 12 months of sales
$325,000 – Most expensive condo sold in June
$125,000 – Least expensive condo sold in June
Vacant Land
105 – Active on the market (7 more than a month ago)
0 – Sold in June (2 less than last month and same as June 2008)
2 – Currently Pending (2 more than a month ago)
$165,000 – Median Price of trailing 12 months of sales
$0 – Most expensive Lot sold in June
$0 – Least expensive Lot sold in June
