So far in 2019, single-family homes in Estes Park are selling for 97% of listing price. During the same period last year, homes sold for 98% of asking price. The period between when a home goes on the market and it sells is called “Days on Market” (DOM). During this period in 2018, the average cumulative DOM was 118 and this year it is 114. The number of homes available for sale continues to remain less than the levels last year, but we continue to see fewer sales than last year. Prices have increased 2.6% over last year which is less than the 9.5% increase we saw during the same time last year. So what does this mean? The market really hasn’t changed much, but these early indicators mean our market is beginning to slow down. We won’t see the 13-16% price increases we have been seeing, but we should still expect a more modest 3-5% increase.
In Estes Park, 33% of the homes sold so far this year were at or above listing price. When a buyer finds their “cream puff” home, they are ready to buy and make full-price offers. This is more common for homes under $600,000. How does this compare to other Front Range towns?
Fort Collins = 60% Loveland= 60% Greeley = 71% Windsor = 56%
You can still get a better deal in Estes Park than you can get along the Northern Front Range. But let’s keep that a secret between you and me!