Evergreen Market Update: The Numbers
The Evergreen market is moving fast and we get to see all the trends. This breakdown goes into median list prices, market activity, inventory and rental rates so you can see what’s going on for buyers and sellers.
Median List Price
As of the latest numbers the median list price in Evergreen is $1,200,000. This high median price means the market is premium and Evergreen is still a high end market for high end properties. Sellers can ride the demand and buyers need to be prepared to invest.
Median Price of New Listings
New listings have a median price of $1,295,000 which is slightly higher than the overall median list price. This means new listings may have modern amenities, updated features or more land so they can command a higher price. Sellers of new listings can take advantage of this trend by making sure their properties are well maintained and competitively priced.
Price Per Square Foot
$360 per square foot. This is important for both buyers and sellers. For buyers it helps them evaluate what they are getting for their money. For sellers it helps them price their property competitively.
Days on Market
Evergreen homes are averaging 60 days on market with a median of 42. This is a moderate market where properties are moving at a steady pace. For sellers a shorter median days on market is a good sign, means strong demand and efficient sales process. For buyers when you find a property that meets your criteria you need to act fast.
Price Adjustments
- Price Decreased: 53% of listings have decreased in price. This high percentage means the initial price is often too high and needs to be adjusted to attract buyers. Sellers need to be aware of the market and price their home realistically to avoid long market time.
- Price Increased: No listings have increased in price. This means the market is balanced and sellers are pricing their homes at market value from the start.
Relisted Properties
5% of the market is relisted properties. Relisting can happen for many reasons such as previous contracts falling through, initial overpricing or other market conditions. Sellers should try to avoid relisting by pricing their property competitively and marketing well from the start.
Inventory
133 homes in Evergreen. This is a moderate inventory, demand and supply are balanced. For buyers this means a decent selection of properties to choose from. For sellers to stand out in this competitive market they need to have an attractive listing.
Median Rent
$3,550 median rent in Evergreen. This high rent means the area is desirable for tenants, a strong rental market. Investors can expect good returns, renters need to budget for the higher cost of living.
Market Action Index
41, means a slight seller’s advantage. This index measures the balance between supply and demand, means sellers have a small upper hand in negotiations. But the market is getting balanced so both buyers and sellers need to be strategic in their transactions.
Evergreen CO
Evergreen real estate has strong values, steady sales and many price adjustments. Sellers have a small advantage but competitive pricing and marketing is key. Buyers will invest big but can find deals on price reduced properties. Overall Evergreen is a hot and desirable market for both sellers and buyers.
Evergreen
Dan Skelly is a real estate broker/owner/agent at Orson Hill Realty in Evergreen CO. Dan is also a Realtor in Southwest Florida on Marco Island and Naples Florida