Estes Park Real Estate is doing much better according to the statistics than it has in recent months. Numbers are trending up in comparison to previous years and months. While some of this up-trend is due to our seasonality, there is more of an improvement in unit sales than in previous years – especially in single family homes. We are a seeing a lot of activity from buyers in recent weeks and a definite surge in the number of properties under contract.

As I have been saying for a while, these next couple of months will be critical in determining how the rest of the year will turn out for home values in Estes Park. If the trends continue, then all should be fine and dandy. However, if we don’t slow down the amount of inventory on the market or speed up the rate at which people are buying property, our balance between suply and demand will get increasingly worse. When suply becomes too big for the demand, prices theoretically should fall. Only time will tell.

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

198 – Active on the market (10 more than last month)
11 – Sold in May (1 more than last month and 1 less than May 2008)
15 – Currently Pending (same as last month)
$350,000 – Median Price of trailing 12 months of sales
$490,000 – Most expensive home sold in May
$144,000 – Least expensive home sold in May

Condominiums and Townhouses

125 – Active on the market (3 more than a month ago)
5 – Sold in May (1 more than last month and 4 less than May 2008)
14 – Currently Pending (4 more than last month)
$236,000 – Median Price of trailing 12 months of sales
$625,000 – Most expensive condo sold in May
$85,000 – Least expensive condo sold in May

Vacant Land

97 – Active on the market (8 more than a month ago)
2 – Sold in May (2 more than last month and same as May 2008)
1 – Currently Pending (same as a month ago)
$165,000 – Median Price of trailing 12 months of sales
$154,450 – Most expensive Lot sold in May
$54,000 – Least expensive Lot sold in May