Evergreen, CO 80439 Real Estate Market Report – July 19, 2023
The real estate market in Evergreen, CO 80439 has seen some interesting changes this week. The median list price currently stands at $1,295,000, with the market action index (MAI) hovering around 43. This is a slight decrease from last month’s MAI of 47, indicating a slight cooling in the market.
The MAI is a useful tool that answers the question “How’s the Market?” by comparing the rate of sales versus inventory. A higher MAI indicates a seller’s market, while a lower MAI points to a buyer’s market. Despite the recent decrease, we remain in the Seller’s zone, suggesting that sellers still have a slight advantage in the current market conditions.
Inventory has seen an increase, currently standing at 86. This could potentially provide more options for buyers in the market.
Real-Time Market Profile
The median price of new listings is $1,190,000, and the average price per square foot is $350. Properties are spending an average of 83 days on the market, with the median being 28 days.
In terms of price changes, 35% of listings have seen a decrease in price, while only 1% have seen an increase. Relisted properties make up 7% of the market. The median rent in Evergreen is currently $4,500.
Market Segments
The market can be divided into four segments, each representing approximately 25% of the market ordered by price:
The highest-priced segment has a median price of $2,990,000, with properties offering around 6,761 sq. ft. of space on 5-10 acre lots. These homes typically have 5 bedrooms, 4.5 bathrooms, and are around 26 years old.
The next segment has a median price of $1,674,000, with properties offering around 4,898 sq. ft. of space on 2.5-5 acre lots. These homes typically have 5 bedrooms, 4 bathrooms, and are around 30 years old.
The third segment has a median price of $1,170,000, with properties offering around 3,292 sq. ft. of space on 0.5-1 acre lots. These homes typically have 4 bedrooms, 3 bathrooms, and are also around 30 years old.
The lowest-priced segment has a median price of $747,500, with properties offering around 2,139 sq. ft. of space on 0.5-1 acre lots. These homes typically have 3 bedrooms, 2 bathrooms, and are around 55 years old.
Market Outlook
Prices in Evergreen, CO 80439 have plateaued for several weeks. Since we’re significantly below the top of the market, a persistent up-shift in the Market Action Index would be needed before we see prices move from these levels.
While the market has been cooling over time, we’re still in the Seller’s zone. If the MAI resumes its climb, prices will likely follow suit. However, if the MAI drops consistently or falls into the Buyer’s zone, we could see downward pressure on prices.
Stay informed with the Evergreen market to never miss important changes.
Orson Hill Realty
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