2023 Market Review

in the Estes Park Real Estate market in 2023

- Summary of all the Stats with Graphs

- Sam's Predictions About What Will Happen in the Market in 2024

- How His Predictions Turned Out for 2023

- Advice for Buyers and Sellers in the Coming Year

and So Much More...

The slowdown in the real estate market has shown up in the real estate statistics in 2023 in Estes Park. There are a lot of reasons for pessimism, but there are equally as many reasons to still be optimistic about our market here in the mountains. Let’s dig into the details and I'll show you what I mean.

Starting Off

First of all, the market as a whole saw significantly fewer real estate sales in 2023 than 2022 with a drop of approximately 12% in the total number of sales. Going back in the history, we haven’t had so few sales since 2012. With fewer sales, we are fortunate that inventory of homes for sale did not skyrocket during that time. Therefore our prices did not respond to the dramatic drop in the number of sales but actually rose by 3% because nobody wanted to sell their properties. ...