The chart below illustrates the market trend in eastern Park County, Colorado. The Denver Metrolist refers to this area as Mountain Park County East (MPE). The area includes the portion of Park County from the Park/Jefferson county line to Kenosha Pass. The area includes the communities of Bailey, Pine, Shawnee, and Grant.
The following graphs and commentary are intended give the reader insight into the residential real estate market trends in the area in terms of list and sales price trends, average marketing times, and supply and demand trends.
How to read the graph:
Blue vertical bars represent the average number of days on the market for the sales each month. The average days on the market trend is represented by a red line on the right axis.
What this means:
The sales and list price trends appear to be stabilizing after declining for several months. The average number of days on the market is close to 180 days with two of the last four months averaging over 180 days. The seasonal nature of the market is evident with longer average marketing times occurring during the winter months.
The next graph shows the supply and demand trends in the same market segment. Inventory levels during 2009 decreased after rising through much of 2007 and 2008. December 2009 and January 2010 inventory levels increased and the market remains in a state of oversupply.
The graph below shows the change in the rate of monthly sales compared to the same month a year ago. January 2010 sales were the same as January 2009. September, October, and November 2009 sales increased significantly from the year prior. The increase in sales may be attributable to the $8,000 first time buyer tax credit.
The last two graphs below give a visual representation of sales over the past twelve months in terms of sales price and finished living area. Most sales occurred in the $125,000 - $175,000 price ranges. In terms of finished living area, most sales were in the 1,600 – 2,200 sq. ft. range.
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Disclaimers and Acknowledgements
The research done to gather the data involves examining thousands of listings. With this much data inaccuracies will occur. Care is taken in gathering and processing the data and information within this report is deemed reliable. IT IS NOT GUARANTEED. The real estate market is cyclical and will have its ups and downs. Past performance cannot determine future performance.
This information is offered with the understanding that the author is not engaged in rendering legal, tax or other professional services. If legal, tax or other expert assistance is required, the services of a competent professional are recommended. This is a personal blog reflecting the opinions of its author. Statements on this site do not represent the views or policies of anyone other than me.
Investing in real estate is not a get-rich-quick scheme nor is there any guarantee you will make a profit. Every effort has been made to make this report as complete and accurate as possible. However, there may be mistakes. Therefore, this report should be used only as a general guide and not as the ultimate source for making money in real estate.
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