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Published January 18, 2025

December 2024 & Year‑End Real Estate Market Update | Estes Park & Larimer County

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Written by Jeff Abel

December 2024 and year-end real estate market update for Estes Park and Larimer County Colorado

December 2024 and Year-End Estes Park & Larimer County Real Estate Market Update

As we close out 2024, it is time to look back at December's real estate trends and, more importantly, take a comprehensive look at the full year in review for Estes Park and Larimer County. Whether you are a buyer weighing your next move, a seller considering your options, or a homeowner curious about your property's position in the market, this update covers the numbers that matter most for Colorado's mountain communities.

Estes Park: December 2024 at a Glance

December in Estes Park told a story of strong sales activity paired with tightening supply. New listings fell sharply, down 57.1% with only three homes hitting the market compared to seven in December 2023. Despite fewer listings, closed sales rose by 36.4% with 15 homes sold versus 11 the previous year.

The median sale price saw an impressive 11.5% increase, reaching $710,000 compared to $637,000 in December 2023. On the other hand, homes are taking longer to sell, with the average days on market climbing 58.2% to 87 days compared to 55 days last December. Inventory levels also grew, with months supply rising by nearly 37% to 4.1 months.

Note: With only 15 closed sales in December, the Estes Park median sale price can be influenced by the specific mix of properties that closed during the month. Small sample sizes are common in mountain markets and should be considered when evaluating month-to-month price changes.

Key Metrics

December

Year to Date

2023

2024

% Change

2023

2024

% Change

New Listings

7

3

-57.1%

247

250

+1.2%

Closed Sales

11

15

+36.4%

159

159

0.0%

Median Sales Price

$637,000

$710,000

+11.5%

$807,500

$830,000

+2.8%

Avg Days on Market

55

87

+58.2%

62

89

+43.5%

Months Supply

3.0

4.1

+36.7%

--

--

--

 

Estes Park: 2024 Year in Review

Zooming out to the full year, the Estes Park market showed signs of stabilization after a few years of rapid activity. New listings ticked up slightly, with 250 homes listed in 2024 compared to 247 in 2023, a modest 1.2% increase. Closed sales held perfectly steady at 159 homes for both years, reflecting consistent demand even as the broader market recalibrated.

The year-end median sale price rose by 2.8% to $830,000, up from $807,500 in 2023. This steady appreciation signals continued value in Estes Park real estate without the dramatic swings that characterized earlier post-pandemic years. The biggest shift came in how long homes took to sell, with average days on market increasing by a notable 43.5%, climbing to 89 days compared to 62 in 2023.

What does this tell us? Buyers in Estes Park are taking their time, and sellers are adjusting to slightly more balanced market conditions. With both prices and inventory showing modest increases, 2025 could present more opportunities for buyers looking to make their move to Colorado's mountain communities.

Larimer County: December 2024 at a Glance

Larimer County saw a more active December overall. New listings were up 12.2% with 212 homes entering the market, while closed sales surged by 36.3% with 353 homes sold compared to 259 in December 2023. The median sale price rose by 4.6% to $575,475.

Similar to Estes Park, homes took longer to sell countywide, with average days on market rising 15.7% to 81 days. Months supply of inventory increased to 2.1, up from 1.9 the previous December, reflecting a slight but meaningful shift toward more balanced conditions.

Key Metrics

December

Year to Date

2023

2024

% Change

2023

2024

% Change

New Listings

189

212

+12.2%

5,422

5,945

+9.6%

Closed Sales

259

353

+36.3%

4,178

4,188

+0.2%

Median Sales Price

$550,000

$575,475

+4.6%

$580,000

$595,000

+2.6%

Avg Days on Market

70

81

+15.7%

60

66

+10.0%

Months Supply

1.9

2.1

+10.5%

--

--

--

 

Larimer County: 2024 Year in Review

The full-year picture for Larimer County reflects a resilient market with continued demand and more noticeable growth in supply. New listings climbed by nearly 10%, with 5,945 homes hitting the market compared to 5,422 in 2023. Closed sales remained essentially steady, up just 0.2% with 4,188 transactions for the year.

The year-end median sale price rose modestly, increasing by 2.6% to $595,000. Homes moved slightly slower overall, with days on market up 10% to an average of 66 days. This slight cooldown in speed reflects buyers having more choices and taking more time to make their decisions, a healthy development for long-term market stability.

Looking Ahead: What These Trends Mean for 2025

These year-end numbers tell a consistent story across both Estes Park and Larimer County: the market is in transition. Prices continue to appreciate modestly, inventory is growing, and buyers have more breathing room than they have had in recent years.

For buyers: The combination of more listings, steadier prices, and longer days on market means you may find more negotiating room and less pressure to make snap decisions in 2025. If you have been waiting for the right time to explore mountain living in Estes Park or Northern Colorado, this shifting market could work in your favor.

For sellers: Pricing strategy and presentation matter more than ever. With homes taking longer to sell and buyers having more choices, working with a local expert who understands the nuances of mountain market pricing and marketing is essential to achieving the best outcome.

Whether you are thinking of buying or selling in Estes Park or Larimer County, having a local expert to guide you through these shifting trends is essential. If you have questions about the market or want to discuss your real estate goals, do not hesitate to reach out.

Frequently Asked Questions

What was the median home price in Estes Park in 2024?

The year-end median sale price for single-family homes in Estes Park was $830,000 in 2024, a 2.8% increase from $807,500 in 2023. In December 2024 specifically, the median sale price reached $710,000.

How long does it take to sell a home in Estes Park?

In 2024, homes in Estes Park averaged 89 days on market, up 43.5% from 62 days in 2023. This reflects a market where buyers are taking more time to make decisions and sellers may need to be patient with pricing strategy.

Is the Estes Park real estate market slowing down?

The Estes Park market is stabilizing rather than slowing down. Closed sales held steady year over year at 159 transactions, and prices continued to appreciate. The longer days on market and growing inventory suggest a healthier, more balanced market rather than a decline.

What is the median home price in Larimer County?

The year-end median sale price for single-family homes in Larimer County was $595,000 in 2024, a 2.6% increase from $580,000 in 2023. December 2024 saw a median of $575,475.

Are home prices going up in Northern Colorado?

Yes, home prices in Northern Colorado continue to appreciate modestly. Larimer County saw a 2.6% increase in median sale price for the full year of 2024, while Estes Park experienced a 2.8% increase. These steady gains reflect sustained demand in the region.

Is it a good time to buy a home in Estes Park?

With inventory growing, days on market increasing, and prices showing modest rather than rapid appreciation, 2025 may present favorable conditions for buyers in Estes Park. More listings and a more balanced market can mean more options and potentially more room for negotiation. Connecting with a local real estate expert is the best way to evaluate timing for your specific situation.

Watch the Full Market Update

For the complete breakdown of these numbers and additional market commentary, watch the full video on the Estes Park Living YouTube channel: December 2024 and Year-End Market Update

Relevant Links

Home Buyer Guide: https://bit.ly/SignatureHomeTeamBuyerGuide

Home Seller Guide: https://bit.ly/SignatureHomeTeamSellersGuide

Sign Up for Our Free Email Market Report: https://bit.ly/NoCoEPMarketReport

Request a Home Valuation: https://www.signaturehometeam.com/home_value

Preferred Lending Partner: Harriette Woodard at Bank of Colorado: https://www.bankofcolorado.com/people/mortgage/HARRIETTE-WOODARD

Everything Estes Park Facebook Group: https://bit.ly/EverythingEstesPark

YouTube: Estes Park Living: https://www.youtube.com/@EstesParkLiving

Instagram: Signature Home Team: http://instagram.com/signaturehometeam/

Facebook: Signature Home Team: https://www.facebook.com/SignatureHomeTeam

 

About the Author: Jeff Abel is a licensed real estate agent and team lead with Signature Home Team, brokered by Keller Williams Top of the Rockies, specializing in Estes Park and Northern Colorado mountain communities. He shares insights about real estate and mountain living through the Estes Park Living channel.

All data sourced from IRES MLS, current as of January 6, 2025. Data does not account for sale concessions and/or down payment assistance.

Categories

Market Updates

Tags

year-in-review, home-values, estes-park, larimer-county
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