The end of July brought a conflicting real estate market in Estes Park depending on which side of the coin you land on.

On one side, the real estate landscape has never been more favorable to buy a home. There are some amazing deals that are being found by buyers who are ready to take advantage of the ridiculously low mortgage rates and astronomically high inventory available for sale. Buyers are able to negotiate heavily in all stages of the contract and sellers are afraid of losing whatever interest they may have. As I have been saying for several months in a row now, it is a fantastic time to be buying Estes Park real estate.

On the flip side, home owners are seeing heavy competition across every price range. The higher the price range, the longer it is taking to sell. The only properties that are being looked at are properties that have rock bottom prices and are in perfect condition (or are too good of a deal to pass up). If you are thinking of selling your home, you need to be aggressive or you will sit on the market with little activity.

Digging into the stats, it was a fairly mediocre month falling in line with previous months. Condos are showing positive numbers in median price. While the number of sales is low, the median price seems to have bounced in the past few months much like single family homes bounced in November/December of 2009.

I would expect August to be a solid month in comparison with the rest of the year because of the high number of pending sales. Until we are able to get rid some of our excess inventory, I think our numbers are going to continue to stay flat without much improvement.

If you would like to see a more visual representation of how the market is doing, check out my Estes Park Real Estate Statistics page. Also, I would be happy to generate a more focused statistical analysis on the types of property you are interested in. Contact me here.

Single Family Homes

265 – Active on the market (4 more than last month and 43 more than this time last year)
14 – Sold in July (1 more than last month and 2 less than July 2009)
22 – Currently Pending (1 more than last month and 7 more than this time last year)
$337,500 – Median Price of trailing 12 months of sales
$805,000 – Most expensive home sold in July
$195,000 – Least expensive home sold in July

Condominiums and Townhouses

133 – Active on the market (5 more than a month ago and 4 more than this time last year)
4 – Sold in July (4 less than last month and same as July 2009)
8 – Currently Pending (same as last month and 8 less than this time last year)
$221,000 – Median Price of trailing 12 months of sales
$392,500 – Most expensive condo sold in July
$228,000 – Least expensive condo sold in July

Vacant Land

121 – Active on the market (11 more than a month ago and 18 more than this time last year)
1 – Sold in July (2 less than last month and 1 more than July 2009)
1 – Currently Pending (same as a month ago and 1 less than this time last year)
$125,000 – Median Price of trailing 12 months of sales
$390,000 – Most expensive Lot sold in July
$390,000 – Least expensive Lot sold in July

After a dismal May, the Estes Park real estate market rebounded with more encouraging numbers in June. Contrary to many people’s perceptions, there are many people buying and selling homes in Estes Park.

Regarding single family homes, the number of homes sold, median price, and pending sales all reversed 2-month skids since April. Unfortunately, inventory (available properties for sale) is still increasing which means we are not in the clear by any means. Condominiums and Vacant Land seem to be tracking along well with Last year in most categories.

If you are considering selling your home, I am recommending you take a hard look at your motivation for selling. If you absolutely have to sell and sell quickly, you will need to be very aggressive with your offer price. If you are considering selling, and are fishing for that one perfect buyer to pay your price, please don’t list your home. The amount of inventory we already have far outweighs the amount of people looking to buy a home in Estes Park. Additional inventory will only decrease prices and increase the time it takes to sell a home.

Buyers, on the other hand, are in a very good position right now to negotiate and find some pretty amazing deals. In addition, mortgage rates are staying extremely low creating a huge buying opportunity for those ready to buy.

I am anticipating July numbers to be more similar to June than May as we are seeing some solid buyer activity in the Estes Park real estate market once again.

If you would like to see a more visual representation of how the market is doing, check out my Estes Park Real Estate Statistics page. Also, I would be happy to generate a more focused statistical analysis on the types of property you are interested in. Contact me here.

Single Family Homes

261 – Active on the market (15 more than last month and 32 more than this time last year)
13 – Sold in June (5 more than last month and same as June 2009)
21 – Currently Pending (4 more than last month and 8 more than this time last year)
$341,000 – Median Price of trailing 12 months of sales
$825,000 – Most expensive home sold in June
$108,000 – Least expensive home sold in June

Condominiums and Townhouses

128 – Active on the market (same as a month ago and 5 less than this time last year)
8 – Sold in June (1 more than last month and 1 less than June 2009)
8 – Currently Pending (same as last month and 1 more than this time last year)
$215,000 – Median Price of trailing 12 months of sales
$535,000 – Most expensive condo sold in June
$120,000 – Least expensive condo sold in June

Vacant Land

110 – Active on the market (1 more than a month ago and 5 more than this time last year)
3 – Sold in June (1 more than last month and 3 more than June 2009)
1 – Currently Pending (same as a month ago and 1 less than this time last year)
$123,375 – Median Price of trailing 12 months of sales
$310,000 – Most expensive Lot sold in June
$12,000 – Least expensive Lot sold in June

After an absolutely awesome April, May was quite a disappointment as far as statistics are concerned. May was the first month this year so far that we sold less homes than we did last year and we sold less than half as many as we did in April. The real confusing thing is that home sales had previously been on a general upwards trend over the last 6 months. These numbers seem way out in left field.

The most troubling aspect about the statistics this month is the amount of inventory we now have on the market after our typical pre-summer “new listing” spree. Our balance of supply and demand is extremely skewed in favor of the supply side creating a very favorable situation for buyers, but a terrible situation for sellers.

With the interest rates still way below 5% and inventory way up, buyers should be ecstatic about the selection and value they are getting in the market these days.

Sellers, on the other hand, are going to need an extra dose of patience as well as an aggressive pricing and marketing strategy in order to stay competitive. With a lack of buyers in the marketplace and a glut of inventory, competition will be fierce.

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. Also, I would be happy to generate a more focused statistical analysis on the types of property you are interested in. Contact me here.

Single Family Homes

246 – Active on the market (37 more than last month and 48 more than this time last year)
8 – Sold in May (12 less than last month and 3 less than May 2009)
17 – Currently Pending (2 less than last month and 2 more than this time last year)
$330,000 – Median Price of trailing 12 months of sales
$800,000 – Most expensive home sold in May
$268,000 – Least expensive home sold in May

Condominiums and Townhouses

128 – Active on the market (8 more than a month ago and 3 more than this time last year)
7 – Sold in May (1 less than last month and 2 more than May 2009)
8 – Currently Pending (2 less than last month and 6 less than this time last year)
$210,000 – Median Price of trailing 12 months of sales
$349,000 – Most expensive condo sold in May
$134,000 – Least expensive condo sold in May

Vacant Land

109 – Active on the market (7 more than a month ago and 11 more than this time last year)
2 – Sold in May (3 less than last month and same as May 2009)
1 – Currently Pending (1 less than a month ago and same as this time last year)
$123,375 – Median Price of trailing 12 months of sales
$138,000 – Most expensive Lot sold in May
$105,000 – Least expensive Lot sold in May

If you’ve tried accessing this web site in the last 24 hours, you are well aware that I am up to something at HomesInEstes.com. Big improvements are on the way that will make your home search experience much easier, more accurate, and enjoyable than what HomesInEstes.com was able to offer previously.

Saying Goodbye to the Old Design

When the original design for HomesInEstes.com was created a few years ago, much time and effort was put into giving the real estate consumer in Estes Park the most accurate information with a pleasing design. Unfortunately, the site was completely “home grown” and the technologies soon became obsolete in comparison with what is available today. In an effort to give my web site visitors the best possible experience when buying and selling real estate in Estes Park, it was time to take HomesInEstes.com to a higher level.

What is Next for HomesInEstes.com?

Obviously I am extremely excited to unveil what I have in store to serve the needs of buyers and sellers of real estate in Estes Park. Over the next couple of weeks, you will see many new features coming to this site. Features such as being able to set up saved searches with automatic email listings notification, detailed search parameters including map based or text based searches, and much, much more.

Feel free to comment on what you liked about the old site design as well as what you want to see as features in the future.

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The pictures speak for themselves. This Colorado Log Home defines Rocky Mountain Living with stunning views in virtually every direction. An impressive great room anchors the home and features soaring windows fully capturing the mighty views. The kitchen is outfitted with granite countertops and stainless steel appliances and flows well from the dining room and eating deck on the front side of the home. Access is a breeze in an upscale neighborhood with paved roads very near downtown shopping and Rocky Mountain National Park. With three separate decks to enjoy the outstanding summer weather in Estes Park, be ready to be nominated by your friends for all future vacation get-togethers.

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Search for All Homes for sale in Estes Park, Colorado

Activity in the Estes Park real estate market has exploded in April. I had to double check my numbers 3 times to make sure they were correct. We saw a huge increase in the number of sales in each category in comparison with previous months and especially over last year.

With the passing of the tax credit on April 30th, I am expecting a slight slow down in the lower price ranges. We did see an increase in activity among in the lower price ranges leading up to the deadline. I personally helped 3 clients that were specifically bought homes to take advantage of the credit over the last year. However, the tax credit did not have as significant of an impact on our real estate statistics as many other locations. Our market is substantially dependant on financially stable individuals buying 2nd homes with 20% or more of a down payment or paying cash for their new home. The tax credit did not impact the decision making of these types of individuals very much.

Looking forward to the summer, it seems as though the trends of increasing activity are going to remain strong. While we don’t have quite as many homes under contract at this time as we did a month ago, we do have more than we did last year and the showing activity has picked up considerably in the upper price ranges over the last several months.

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. Also, I would be happy to generate a more focused statistical analysis on the types of property you are interested in. Contact me here.

Single Family Homes

209 – Active on the market (13 more than last month and 21 more than this time last year)
20 – Sold in April (10 more than last month and 11 more than April 2009)
19 – Currently Pending (4 less than last month and 3 more than this time last year)
$337,500 – Median Price of trailing 12 months of sales
$690,000 – Most expensive home sold in April
$182,000 – Least expensive home sold in April

Condominiums and Townhouses

120 – Active on the market (15 more than a month ago and 2 less than this time last year)
8 – Sold in April (3 more than last month and 4 more than April 2009)
10 – Currently Pending (2 less than last month and same as this time last year)
$215,000 – Median Price of trailing 12 months of sales
$322,000 – Most expensive condo sold in April
$141,000 – Least expensive condo sold in April

Vacant Land

102 – Active on the market (1 less than a month ago and 13 more than this time last year)
5 – Sold in April (4 more than last month and 5 more than April 2009)
2 – Currently Pending (1 less than a month ago and same as this time last year)
$123,375 – Median Price of trailing 12 months of sales
$166,250 – Most expensive Lot sold in April
$48,000 – Least expensive Lot sold in April

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Super low maintenance with metal roof, and 50 year composite siding. No painting required! Open floor plan with vaulted ceilings and big windows to take advantage of the surrounding trees and mountain views. Huge attached 2 car garage with well-lit workshop area. Full walkout unfinished basement in the lower level including an additional roughed in bathroom. Beautiful lot with rock outcroppings, lots of trees, and fenced-in back yard.

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Search for All Homes for sale in Estes Park, Colorado

Are you thinking of relocating to Estes Park, Colorado? You are probably in research mode trying to find out more information about our little town in the Rocky Mountains. Let me point you in the direction of some helpful resources to help get you more acquainted with what Estes Park has to offer.

First, I would start with a video that the Town of Estes Park put together called “Estes Park: A Great Place to Visit, A Great Place to Live.” It highlights many of the reasons people come to Estes Park and throws in a little history in the process. You can find the video here: http://www.estes.org/pressreleases/epvideo/

The town also puts out a town profile and updates it every year. This includes a ton of demographic information and helpful numbers regarding a wide range of topics: http://www.estesnet.com/CommunityInfo/CommunityProfile.pdf.

Two local newspapers serve the area. The Estes Park News is a free paper and they have an online version at http://www.estesparknews.com. The Estes Park Trail Gazette also has an online version at http://www.eptrail.com. I would recommend visiting the newspapers often for town events, classified ads (including job postings) and news about the local area.

School information can be found on the Estes Park School District web site at http://psdr3.k12.co.us/

Most other local businesses can be found on the Convention and Visitors Bureau web site at http://www.estesparkcvb.com.

Home and Apartment rentals can be found in the newspaper classified ads or on craigslist. I recommend using the Fort Collins Craigslist site at http://fortcollins.craigslist.org/ as this typically has the most Estes Park postings. There is one company in town that is a full time long term (more than 30 days) property management company and that is Range Property Management which can be found online at http://www.rangeprop.com/.

When you are ready to start looking for real estate for sale in Estes Park, there are several sites that I would recommend. First, my web site at http://www.HomesInEstes.com has an easy to use map based search with all the properties for sale. Be sure to also check out the blog for updates on the local market statistics, plus tips and tricks to buying and selling real estate in Estes Park.

Over the last week, the amount of inventory (real estate available for sale in Estes Park, Colorado) has been brought up in conversation several times. Each time, the common feeling with people I talk to is that available homes and condos for sale seem to be climbing at an alarming rate.

I would recommend caution in saying that inventory is up across the board especially at this time of year. During the spring of the year, Estes Park typically sees many properties come available for sale in anticipation of the busy summer tourism season.

The best thing we can do is test the level of inventory is look at the stats. Unfortunately, our local Multiple Listing Service does not allow us to look back at a certain date and calculate how many properties were “active” on the market at that time. Personally I have been tracking Actives for almost 2 years now. Therefore, I am finally able to compare the amount of active inventory from one year to another and from month to month.

Currently, in the 80517 zip code, we have 196 homes, 105 condos, and 103 pieces of vacant land available for sale. At this time last year, we had 180 homes available, 116 condos, and 93 vacant land available. In summary, there are 404 active listings in Estes Park compared with 389 at this time last year. This translates into a 3.9% increase in inventory. In my opinion, a 3.9% deviation in a real estate market as small as Estes Park is hardly a reason to be worried.

For those of you who follow this blog regularly, you already know that I post all sorts of statistics each month on my real estate blog. You can check out my real estate market statistics page (best viewed in Firefox) for all sorts of graphs and charts or you can view an archive of my monthly statistics blog posts for additional commentary each month.

For those of you are more visual, above is a chart showing the inventory levels of real estate in Estes Park over the past 2 years.

I made sure not to post this information yesterday so no one accused me of posting an April fools joke. All the information is factual and verifiable.

Now that I have that out of the way, I think you will be very pleased with the stats this month. We took another huge jump in the number of homes sold in March by more than twice as many that were sold in March 2009. We are also seeing some of the higher dollar homes being sold which is a very good thing for the top end of the market. To top it all off, the number of homes that are under contract are much higher than normal for this time of year.

Condos and vacant land are just as exciting with numbers matching or exceeding last month and previous years in the same time period across the board. Inventory amounts are looking good for condos with an almost 10% reduction in the number of condos available for sale in comparison with this time last year.

The stats are starting to show what we’ve been feeling for the better part of this year: Buyers are out there and are waiting to find the “perfect” home. If they find the one they like, they are jumping on it. If you mix the recent activity with the end of the home buyer tax credit and low interest rates and I expect the next couple of months to be very solid months as far as statistics are concerned.

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. Also, I would be happy to generate a more focused statistical analysis on the types of property you are interested in. Contact me here.

Single Family Homes

196 – Active on the market (19 more than last month and 16 more than this time last year)
10 – Sold in March (4 more than last month and 6 more than March 2009)
23 – Currently Pending (5 more than last month and 12 more than this time last year)
$347,000 – Median Price of trailing 12 months of sales
$815,000 – Most expensive home sold in March
$122,000 – Least expensive home sold in March

Condominiums and Townhouses

105 – Active on the market (9 more than a month ago and 11 less than this time last year)
5 – Sold in March (same as last month and 2 more than March 2009)
12 – Currently Pending (5 more than last month and same as this time last year)
$221,000 – Median Price of trailing 12 months of sales
$375,000 – Most expensive condo sold in March
$123,000 – Least expensive condo sold in March

Vacant Land

103 – Active on the market (2 less than a month ago and 20 more than this time last year)
1 – Sold in March (1 more than last month and same as March 2009)
3 – Currently Pending (2 more than a month ago and 3 more than this time last year)
$120,000 – Median Price of trailing 12 months of sales
$120,000 – Most expensive Lot sold in March
$120,000 – Least expensive Lot sold in March