Published June 15, 2024
May 2024 Real Estate Market Update for Estes Park & Larimer County
The real estate market in Estes Park and Larimer County saw notable shifts in May 2024. From rising inventory to changing sales numbers, these trends provide valuable insights for both buyers and sellers. Let’s break down the key stats and what they mean for you.
Estes Park Market Overview
In Estes Park, the market showed mixed signals in May 2024:
- New Listings: Increased to 34, a 36% rise from last year.
- Closed Sales: Slight decrease to 11, down 8.3% from 12 last year.
- Days on Market: Rose to 102 days, up 30.8%.
- Median Sale Price: Jumped to $1,185,000 from $930,000 last year.
- Months of Inventory: Increased to 3.6 months, a 44% rise.
Takeaway: Estes Park is leaning toward a more balanced market. Buyers have more inventory to choose from, but rising prices mean quick decision-making is key. Sellers benefit from higher prices but may need to stay patient as homes take longer to sell.
Larimer County Market Overview
Larimer County saw moderate market changes in May 2024:
- New Listings: Increased by 5.9% to 685, compared to 647 last year.
- Closed Sales: Declined slightly to 440, down 5.6% from 466 last year.
- Days on Market: Rose by 7.5% to 57 days.
- Median Sale Price: Increased to $625,500 from $579,950 last year.
- Months of Inventory: Grew to 2.6 months, a 36.8% rise.
Takeaway: The market in Larimer County remains stable. Buyers will find a healthy selection of homes, while sellers continue to benefit from rising prices. Proper pricing strategies are essential to attract buyers efficiently.
What These Trends Mean for You
Whether you’re buying or selling, these market trends highlight the importance of staying informed. Buyers should act decisively in Estes Park’s competitive market while preparing for slightly longer timelines in Larimer County. Sellers in both areas can take advantage of rising prices but must ensure their properties are well-positioned to stand out.
Get Expert Real Estate Advice
At Signature Home Team, we’re committed to providing you with the expertise and guidance you need to navigate the Northern Colorado real estate market. If you’re planning to buy or sell in Estes Park or Larimer County, contact us today for personalized advice.
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