Evergreen, CO Luxury Real Estate Update Feb 2018
Evergreen, Colorado luxury real estate is following the same pattern as our average homes. Luxury has always been a market of its own but is starting to follow the rest of the real estate market in Evergreen. If we look at the first chart we see a trailing 12 month line graph of active listings. These are all active listings over $700,000. Although lately $700.000 is closer to the average home price in Evergreen than the luxury listings but for this discussion it will do us just fine for a starting point. You can see the seasonal peaks and valleys you would expect to see in the winter and summer. With less listings in the winter months and more listings in the summer. It is important to point out that even though we have those rather drastic peaks and valleys, the luxury sales don’t fluctuate that much in the seasons. It does dip a bit but not nearly as much as the number of listings. I guess the reason for this is that buyers in the winter are serious buyers. There aren’t as many listings but the buyers don’t look at as many properties and the closing ratio to buyers is much higher.
The graph shows that we are still a few units higher this winter that the last 2 winters. That is a very good sign. We could really use an uptick in the number of units on the luxury market especially in Evergreen. We have a lot of luxury buyers and not enough homes to show them. Just like the rest of the market. Last summer was the highest in the last 3 summers with just under 120 listings on the luxury market at its peak.
The next thing we want to look at is the trailing 12 month numbers. This is pretty much what is to be expected from either market. Again this is for $699,000 and up in price. It shows we are sitting at about 60 active listings going into the first week of February. We are flat from last month. We can expect the luxury market to take its normal upward trend going into the summer months. Keep in mind this is only Evergreen luxury real estate and not the rest of the Denver Foothills. We focused on Evergreen this post to show that the Evergreen luxury market is still going strong and continues to show a small uptick in active listings. Granted we were really at the point the last couple years that up was really the only direction we could go.
For more information on the luxury real estate market in Evergreen or the rest of the Denver Foothills please contact Orson Hill Realty. One of our luxury brokers (agents) would love to talk real estate with you!