Estes Park Real Estate Market Statistics for December 2016

Sam Basel January 10, 2017

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One of the most interesting bits of information that came out of the end of the year is that December has been the best month for number of sales for two years in a row now. I guess you can throw out the “summer only” misconception about real estate sales in Estes Park.

In addition, 2016 was the third year in a row that we have only sold 4 properties over $1,000,000 for the year. I expect that number to increase in 2017 since we already have 4 under contract at this moment and all four are priced between $1 million and $1.2 million. This is further proof that as inventory in the lower prices shrivels up, people will gain more confidence in the luxury market and be willing to pull the trigger on bigger home prices.

Advice for Buyers

January and February are traditionally a slow time for new properties to come on the market. With the recent demand staying high, it is even more important to act quickly if something exciting comes available. As spring hits, we traditionally see more properties come available (I hope) and I want to make sure you are ready to act when the right property comes available because there are plenty of others looking at the same time.

Advice for Sellers

March and April are typically the most popular time for people to put their houses on the market. If you are thinking about selling, it might be in your best interest to beat the rush and get your property on the market now. The real estate environment is outstanding right now in favor of sellers like yourselves. In most cases, we can simply dictate when you want to sell and set a game plan to get that accomplished with rare exception. Beating others to the market in the Spring selling season will be a very good move for you in my opinion.

The environment is ripe for sellers to take advantage of the current conditions in the real estate market. Many people’s home values have appreciated rapidly over the last couple of years. Let’s schedule a time to go over your real estate values and see if now is the right time for you to sell your property. If you hear of anyone else thinking about selling, please pass my name along as someone who can help!

Single Family Homes

60 – Active on the market (2 less than last month and 2 less than this time last year)
23 – Sold in December (8 more than last month and 2 less than December 2015)
18 – Currently Pending (14 less than last month and 4 less than this time last year)
$425,000 – Median Price of trailing 12 months of sales
$830,000 – Most expensive home sold in December
$215,000 – Least expensive home sold in December
3.5 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

16 – Active on the market (2 less than last month and 23 less than this time last year)
9 – Sold in December (1 less than last month and 1 less than December 2015)
10 – Currently Pending (7 less than last month and 5 more than this time last year)
$267,000 – Median Price of trailing 12 months of sales
$375,000 – Most expensive condo sold in December
$150,000 – Least expensive condo sold in December
1.4 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

69 – Active on the market (1 less than last month and 14 less than this time last year)
1 – Sold in December (3 less than last month and 1 less than December 2015)
8 – Currently Pending (2 more than last month and 4 more than this time last year)
$137,000 – Median Price of trailing 12 months of sales
$147,500 – Most expensive land sold in December
$147,500 – Least expensive land sold in December

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