What is happening in the Evergreen and Conifer Market? Spring 2019 Update:
Update as of March 2019
It is interesting to compare the same charts I posted over 6 years ago to a chart made today. The market is so different. It is crazy how many less homes we have and the average home vale.
| Apr 2018 | 135 | $726,066 |
| May 2018 | 169 | $713,054 |
| Jun 2018 | 180 | $631,384 |
| Jul 2018 | 176 | $717,983 |
| Aug 2018 | 204 | $628,131 |
| Sep 2018 | 208 | $540,668 |
| Oct 2018 | 167 | $636,255 |
| Nov 2018 | 140 | $641,455 |
| Dec 2018 | 96 | $603,148 |
| Jan 2019 | 104 | $591,188 |
| Feb 2019 | 119 | $691,892 |
| Mar 2019 | 114 | $580,708 |
Welcome to another post about what is going on in our mountain community real estate market. The chart below is raw data regarding the average sale price on the right in black and number of homes currently active listings in green (for that month).
The story it tells is sort of interesting. If you look at year over year for March, April, May, June and July, it tells a story that contradicts what should actually happen. The number of homes listed is nearly half of what they were in 2013 in the same months in 2014. Common sense and business 101 dealing with supply and demand would tell you the average sale price for that month should be higher. Unfortunately that seems to not be the case. This is not good news for sellers or buyers. The news for the sellers is your home is not selling for what it would have last year. It tells the buyers there isn’t as much inventory to chose from. Some buyers are getting a bit discouraged and giving up on looking.
This is sending a mixed message to all parties in the transaction. It is telling the sellers it is a seller’s market since there isn’t a lot of inventory. Wait though because this downward trend of average sale price is telling buyers it is still a buyer’s market. So who is correct? Both and neither. It is telling us that sellers are dropping their price as well as holding onto their homes until prices increase. It is also telling us that buyers are not willing to over pay for their homes either. The market, as a whole is not willing to inflate the prices as it did in ’06,’07 and ’08.
| Mar 2013 | 428 | $389,197 |
| Apr 2013 | 477 | $529,807 |
| May 2013 | 578 | $472,509 |
| Jun 2013 | 633 | $432,649 |
| Jul 2013 | 656 | $429,135 |
| Aug 2013 | 588 | $457,923 |
| Sep 2013 | 500 | $390,709 |
| Oct 2013 | 414 | $358,761 |
| Nov 2013 | 325 | $404,423 |
| Dec 2013 | 279 | $415,935 |
| Jan 2014 | 243 | $411,291 |
| Feb 2014 | 237 | $457,399 |
| Mar 2014 | 258 | $474,559 |
| Apr 2014 | 290 | $488,646 |
| May 2014 | 349 | $431,763 |
| Jun 2014 | 363 | $454,300 |
| Jul 2014 | 361 | $374,344 |
If you have any questions about what is going on with the real estate market or the value of a specific property please give me a call.
As usual please do not consider this real estate or legal advise. It is just the the thought of an Evergreen Realtor.
