Evergreen Colorado Real Estate - Trailing 12 months Data Dec 2023 - Nov 2023

Evergreen Colorado Real Estate Market: A Comprehensive 12-Month Overview

The real estate market, known for its dynamic nature, requires a keen understanding of its fluctuating trends for anyone involved - be it buyers, sellers, or industry professionals. This comprehensive analysis spans a 12-month period, offering an in-depth look at the changes and patterns observed in average property closing prices, a crucial metric for gauging market vitality and trends.

Methodology Our study encompasses a year's worth of data, spanning from December 2022 to November 2023. We've meticulously focused on monitoring the average closing prices of properties, recognizing this as a pivotal measure of market health and buyer and seller activity.


Market Trends

- December 2022: The year concluded with a notable average closing price of $957,725, laying a significant foundation for the forthcoming year.


- January 2023: Witnessing a brisk start, the new year saw average prices escalate to $1,018,424, signaling a thriving market condition.


- February 2023: A minor decrease was noted, with the average closing price adjusting to $910,288.


- March 2023: This downward trend persisted into March, further descending to an average of $874,452.


- April 2023: April marked a striking recovery, with the average closing price soaring to $1,064,963.


- May 2023: May continued this upward trend emphatically, elevating the average to a remarkable $1,147,657.


- June 2023: In June, the market stabilized somewhat, with the average price moderating to $947,822.


- July 2023: A considerable dip in average prices was observed in July, dropping to $865,707.


- August 2023: August experienced a vigorous resurgence, with the average closing price climbing to $1,101,299.


- September 2023: The upward trajectory extended into September, reaching an average of $1,081,564.


- October 2023: October experienced a marginal decrease in average prices, settling at $958,683.


- November 2023: The latest figures from November 2023 indicate a substantial decline, with average closing prices at $772,215.

Analysis Examining the past year, the real estate market has been characterized by its volatility. The oscillations in average closing prices are indicative of a market influenced by a complex mix of factors, including economic trends, interest rates, and consumer sentiment. The observed peaks and troughs suggest active responses from buyers and sellers to broader economic indicators and the typical seasonal variations in the real estate sector.

This year-long review highlights the necessity for stakeholders in the real estate arena to stay well-informed and adaptable. Recognizing and understanding these market trends is essential for strategic planning and decision-making in alignment with ongoing market shifts. The data underscores that the market is far from linear, influenced by an array of factors, emphasizing the need for continual vigilance and nuanced market analysis.

FAQ

- Q: What was the peak average closing price over the past 12 months?

- A: The peak was in May 2023, with an average closing price of $1,147,657.

- Q: How did the market trend in the latter part of the year?

- A: There was a downward trend towards the year's end, with November 2023 recording a lower average closing price of $772,215.

- Q: Is the real estate market currently growing or declining?

- A: Based on the latest data from November 2023, the market is in a phase of decline. However, it's crucial to recognize that real estate markets are inherently cyclical and subject to a variety of external influences.
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