Evergreen Colorado Real Estate
Things are changing even though they are staying the same. There seems to be a theme in the Denver Foothills... Don't let buyers have control yet. They are fighting and scratching trying to grab any sort of footing. Unfortunately every time they make a little progress our inventory just disappears. In a real estate market like Evergreen CO you need two things to shift the market in your direction (sorry interest rates don't really affect our market. Lots of cash deals and people that aren't as financially strapped as some). If buyers would like to take control any time soon we will need to see less buyers and more sellers. Pretty much the story for the last 6 years up here.
As we look at the number of active listings in Evergreen (this is the case in most of the Denver Foothills and Denver Mountain real estate markets. We are at about 50% of number of listings from our peak this summer. That number will increase as we approach spring and come out of the winter months. However, that is also when the buyers come back out. There is no doubt that the interest rates are really not slowing buyers down in Evergreen, Conifer, Morrison or Golden Colorado. Buyers were hoping to get back a little ground this spring. It might not happen as inflation starts to slow slightly, feds will most likely be less aggressive on rates. That should keep interest rates closer to 5% and that is a fantastic interest rate!
Average Home Prices Evergreen Colorado
Home values in Evergreen, CO have ticked down slightly. Not a lot but slightly. This is still a sign of a healthy market. That is why homes are not "too expensive". They seem to be holding value which proves the opposite of them being too pricey. Homes might cost a lot but if value holds it is not too expensive. It might be too expensive for you but the value is there. I have had this conversation for over a decade in this area. People not wanting to pay $500k for a home 5 years ago because "it wasn't worth it". Those homes are now worth well over $1,000,000 today (even after our slight market shift).
Average List Price Evergreen Colorado
Everyone knows that the average list price is a metric that doesn't really hold a lot of weight. Most people understand the sale price (or list price at the time of the contract being written) is not the best indicator. Anyone can list their home for literally any amount. We have been seeing that lately. Some sellers still try to test the real estate market. We can see the avg list price in Evergreen coming down slightly.
This was a brief market update for mid January 2023. For more information about Evergreen Colorado Real Estate please reach out to discuss.
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