Luxury homes in the Denver Foothills and Evergreen, CO
The luxury homes in Evergreen, CO are still taking the same path as they have for years now. The luxury market seldom feels the same influx as the average home market. The only thing that really changes in the luxury homes is that the bottom number to be considered to be a luxury home seems to increase as time goes on. Not long ago you could buy a luxury home in the Denver Foothills and Evergreen for less than $600,000. Now unfortunately $600k is closer to the average cost of a Denver Foothills home. Now to be in the luxury arena you are closer to 2,500,000 just to get started. Other than that the luxury market is pretty steady through good times and bad. The luxury home market usually sees the same average days on market as well as a steady trend across all metrics. The luxury market usually doesn’t see large swings either way in the Evergreen and Denver Foothills area.
Luxury Homes in the Denver Foothills and Evergreen, CO: A Market Overview
As a Realtor based in Evergreen, CO, Dan Skelly of Orson Hill Realty is frequently approached with queries about the dynamic real estate market in the Denver Foothills. Homeowners are eager to understand the value of their homes and the health of the market. They are thrilled to hear about the booming real estate market, characterized by short days on the market and closing prices close to 97% of the list price. However, the excitement is often tempered by a common fear – the fear of not finding a new home in the Denver Foothills due to record low inventory.
The Luxury Home Market in Evergreen, CO and Denver Foothills
The luxury homes in Evergreen, CO are still taking the same path as they have for years now. The luxury market seldom feels the same influx as the average home market. The only thing that really changes in the luxury homes is that the bottom number to be considered to be a luxury home seems to increase as time goes on. Not long ago you could buy a luxury home in the Denver Foothills and Evergreen for less than $600,000. Now unfortunately $600k is closer to the average cost of a Denver Foothills home. Now to be in the luxury arena you are closer to $2,500,000 just to get started. Other than that the luxury market is pretty steady through good times and bad. The luxury home market usually sees the same average days on market as well as a steady trend across all metrics. The luxury market usually doesn’t see large swings either way in the Evergreen and Denver Foothills area.
The Role of an Experienced Realtor
In such a market, the importance of hiring an experienced Realtor like Dan Skelly of Orson Hill Realty cannot be overstated. A seasoned Realtor can help you navigate the challenges of finding the right home at the right price. In a market like this, people often make hasty decisions and overpay for homes due to the fear of missing out on the “perfect” home. However, as we’ve established, there’s no such thing as a perfect home, and this fear is merely an illusion fueled by irrational negotiations.
Negotiating in a Seller’s Market
In a seller’s market, the negotiation process can be emotionally charged. Sellers, worried about their under-contract home, often feel they are in a weaker negotiating position. However, this is not necessarily the case. While many buyers today don’t have the contingency of selling their home in the contract, many still need to sell their current home to purchase another. Once your home gets through inspection objections, your ability to negotiate is significantly strengthened, and your offer becomes much more solid.
Luxury Homes in Denver Foothills and Evergreen, CO: 2023 Market Trends
As of spring 2023, the luxury real estate market in Evergreen, CO, and the Denver Foothills region is experiencing heightened activity and increasing demand. Multiple offers are becoming increasingly common for luxury homes, regardless of their specific price point. This trend is indicative of the robust health of the luxury market in the region, making it an opportune time for potential sellers to list their properties.
However, it’s important to note that the Denver Metro area experienced a significant decline in home shopping activity in the months of November and December, reaching record-low levels. This trend resulted in a decrease in home closings in January 2023. Compared to the same month in the previous year, home closings were down by 30%. This suggests that while the luxury market remains strong, the broader market is experiencing some fluctuations.
The Role of Realtors in the Luxury Market
In such a dynamic market, the role of experienced Realtors like Dan Skelly becomes even more crucial. With their deep understanding of the market trends and dynamics, Realtors can guide both buyers and sellers to make informed decisions. Whether it’s about pricing a luxury home correctly, negotiating the best deal, or finding the right property amidst the inventory, a Realtor’s expertise can make the process smoother and more rewarding.
The Future of Luxury Homes in Denver Foothills and Evergreen, CO
While it’s difficult to predict the future with certainty, the current trends suggest a continued demand for luxury homes in the Denver Foothills and Evergreen, CO. The increasing entry point for luxury homes indicates a growing market, and the steady trends in the luxury segment suggest a stable future. As such, both potential buyers and sellers in the luxury market can look forward to exciting opportunities in the times to come.
The luxury homes market in the Denver Foothills and Evergreen, CO, continues to thrive, offering ample opportunities for both buyers and sellers. With the guidance of experienced Realtors like Dan Skelly of Orson Hill Realty, navigating this market can be a rewarding experience.
