Thankfully! We are starting to see an uptick in inventory. That’s a pretty good thing for buyers. Unfortunately my crystal ball is telling me that we most likely (at least in Evergreen, Conifer, Morrison, Golden, Pine or Bailey we won’t see enough uptick in homes for sale to make much a difference in prices.
More Homes for Sale in Evergreen Doesn’t Mean Lower Prices in Evergreen – Or Anywhere
Yes, sad but true. Through history it has always been a good indicator that rises inventory would put downward pressure on home values. We are not seeing that in spring of 2024. We are seeing raising rates pushing inventory up but not to the point where we have enough to really satisfy buyer demand.
Buyers are Not Buying on Emotion
We are seeing buyers make much longer and informed decisions. Nothing like 2021 when buyers had to decide in a few hours how much over asking they wanted to make their offer. Well buyers I think we might see some pretty competitive offers really soon. The MLS broker to broker comments are already filled with sellers and listing agents barking demands. Demands like 60-90 leaseback (and you KNOW they want it for free), offer submission deadlines, listing agents ignoring buyer agent calls, all kinds of things we saw in the crazy seller market post covid.
As we step into spring 2024, and look at homes for sale in Evergreen and the housing market as a whole, it is truly defying the usual expectations and economic norms. Even with more homes on the market, prices are not only holding steady but are also on the rise. Let’s start by diving into some of the latest real estate market trends and statistics that are shaping the Evergreen real estate landscape.
Current Market Overview in Evergreen Colorado
- Rising Home Prices in Evergreen CO: Despite an increase in inventory, the median listing price for homes in Evergreen recently peaked at around $1.1 million, reflecting a 13.5% increase compared to last year. This uptick in prices is a clear indicator that the market remains robust.
- Sales Close to Asking Price: Homes in Evergreen are selling for nearly their asking price, with a sale-to-list price ratio hovering around 99.87%. This suggests that while buyers are taking their time, they are willing to pay premium prices for the right home.
- Evergreen is Seeing Longer Market Times (DOM): On average, single-family homes are spending about 82 days on the market before being sold. This is a noticeable increase from the frenzied pace of previous years, indicating a shift towards a more balanced market dynamic.
Buyer Behavior and Seller Strategies
- The Mountains are Seeing Way More Cautious Buyers: The current crop of homebuyers in Evergreen is more deliberate and informed. Gone are the days of snap decisions and bidding wars. Today’s buyers are evaluating their options carefully, aiming to make the best possible investment.
- Assertive Sellers Trying to Keep Control of The Market and the Transaction: Sellers and their agents are setting firm terms to squeeze the most out of every deal like they did in 2021 and after. Common demands include 60-90 day leasebacks and strict deadlines for submitting offers, which points to a competitive edge that still lingers in the market.
Navigating the Crazy Evergreen Real Estate Market
For those looking to dive into the Evergreen real estate market, here are some strategies to consider:
- For Buyers: Patience is key. With homes staying longer on the market, you have more time to make a well-informed decision. However, be prepared to pay close to the asking price if you find a property that meets all your criteria.
- For Sellers: Setting clear terms and being transparent with potential buyers can help you attract serious offers. Also, consider the timing of your sale and the unique features of your property to stand out in a still-competitive market.
Evergreen Colorado
The 2024 spring housing market in Evergreen is shaping up to be a complex but rewarding environment. Whether you’re buying or selling, staying informed and agile will be crucial to navigating this dynamic market successfully. Keep an eye on local trends, and don’t hesitate to consult real estate professionals who can provide deeper insights and guidance.
Orson Hill Realty is a real estate company in Evergreen, Colorado that serves the Denver Foothills and the Denver Metro. Orson Hill Realty can assist in any size real estate transaction from small land listings to luxury listing agents and buyer brokers.
Orson Hill Realty has experienced listings agents and buyer agents. Our Realtors know how use high tech digital marketing mixed with old school marketing to sell your home faster and for more money.
This technology also helps buyers find their home faster. That way a buyer never misses the perfect home again. Any real estate agent in this day and age that doesn’t leverage technology is not doing their clients any favors. All Orson Hill Realty real estate agents are Realtors.
Orson Hill Realty is a full-service Colorado-based real estate company that offers professional real estate agents and brokers to assist you in your buying or selling process. Our agents are well-versed in the local community and have a strong online presence, making them highly effective in their field. For buyers, we offer online listing alerts and a user-friendly portal to facilitate an efficient home search, with access to homes not yet on the market, and for sellers, we advertise on a wide range of listing websites to ensure high visibility for your listing.
As realtors, we are dedicated to upholding a higher level of ethics and experience in our business, and we are deeply invested in the community, with active participation in various local events and activities. Our real estate agents possess a wealth of knowledge on the local area and know how to negotiate the best prices for your needs. We offer excellent services for luxury homes and horse properties, although we handle any size real estate transaction with utmost professionalism.
Our company places a strong emphasis on technology, recognizing the importance of an online presence to meet the demands of our fast-paced industry. With multiple high traffic websites and digital marketing strategies, we ensure that your property is marketed throughout the internet to reach a wider audience. We are dedicated to providing luxury services to all our clients, regardless of the price point.
Orson Hill Realty
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