Estes Park Real Estate Market Statistics for August 2016

Sam Basel September 14, 2016

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Fall is definitely in the air in Estes Park! The leaves have begun to turn and the mornings are crisp and chilly. There was even a dusting of snow on the mountains this morning. Although the summer tourists are gone, Estes Park has done a great job with promoting Fall in the mountains. Scottish Highlands Festival was last weekend and probably one of the busiest weekends we’ve had in Estes Park in a long time.

Advice for Buyers

In today’s market, it is common to see properties sell pretty quickly, but it is also common to see properties sit on the market for a long time. My suggestion this month is to reconsider some of the properties that have been on the market for a while and perhaps even see some in person. In my opinion, there some spectacular properties currently on the market that aren’t getting the attention they deserve. Most times it comes down to poor pictures used for marketing, but there can be other reasons. A lot of times sellers are simply waiting for someone to make an offer and are willing to take much less than their asking prices (obviously not guaranteed). It never hurts to try!

Advice for Sellers

Even though we are entering our fall season in Estes Park, it is still a fantastic time to be selling your home. We still have buyers waiting in the wings ready for new properties to come on the market…but they never seem to appear and buyers are loosing heart. If you have a home to sell or know someone who does, we would love to help them through their options.

Single Family Homes

84 – Active on the market (6 more than last month and 14 less than this time last year)
22 – Sold in August (9 more than last month and 3 more than August 2015)
25 – Currently Pending (8 less than last month and the same as this time last year)
$415,000 – Median Price of trailing 12 months of sales
$1,248,500 – Most expensive home sold in August
245,000 – Least expensive home sold in August
4.8 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

27 – Active on the market (1 more than last month and 15 less than this time last year)
13 – Sold in August (1 more than last month and 1 more than August 2015)
20 – Currently Pending (3 less than last month and the same as this time last year)
$247,250 – Median Price of trailing 12 months of sales
$449,900 – Most expensive condo sold in August
$180,000 – Least expensive condo sold in August
2.4 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

85 – Active on the market (2 less than last month and 18 less than this time last year)
4 – Sold in August (the same as last month and 2 more than August 2015)
9 – Currently Pending (2 more than last month and 2 more than this time last year)
$149,950 – Median Price of trailing 12 months of sales
$280,000 – Most expensive land sold in August
$72,500 – Least expensive land sold in August

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