Winter Park Area Real Estate Market Report from June 2021

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Last month the average sales price for the Winter Park Area hit $1,412,500 and an average of 50 days on the market.

FRASER
The median list price for Fraser alone was 80442 is $1,700,000 with the market action index hovering around 42. This is an increase over last month's market action index of 37. Inventory has decreased to 7.

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

The properties have been on the market for an average of 50 days. Half of the listings have come newly on the market in the past 33 or so days. Watch the 90-day DOM trend for signals of a changing market.

GRANBY 
Tthe median list price for Granby, CO 80446 is $1,099,000 with the market action index hovering around 44. This is an increase over last month's market action index of 41. Inventory has decreased to 27.

GRAND LAKE

The median list price for Grand Lake, CO 80447 is $949,000 with the market action index hovering around 43. This is less than last month's market action index of 45. Inventory has increased to 41.

KREMMLING

The median list price for Kremmling, CO 80459 is $565,000 with the market action index hovering around 59. This is an increase over last month's market action index of 57. Inventory has increased to 12.

TABERNASH

The median list price for Tabernash, CO 80478 is $772,500 with the market action index hovering around 46. This is less than last month's market action index of 51. Inventory has held steady at or around 6.

WINTER PARK

This week the median list price for Winter Park, CO 80482 is $3,150,000 with the market action index hovering around 31. This is less than last month's market action index of 37. Inventory has increased to 3.

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Data from Title Company of the Rockies and GCBOR

Just Listed: Quarter Share in Downtown Winter Park Condo

Mountain living at a fraction of the cost!

Enjoy this quarter share opportunity in the heart of Winter Park. In this well maintained 4 bedroom with 2 primary suites you will be able to listen to the sounds of the river from your back deck, soak in the hot tub after a long day enjoying the outdoors and walk to all of Winter Park’s shops + restaurants, the rec center, and Hideaway Park for summer concerts.

Listed by Leah Bishop for West + Main Homes. Please contact Leah for current pricing + availability.

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Have questions?
West + Main Homes
(303) 935-8787
hello@westandmainhomes.com

Presented by:
Leah Bishop
(970) 531-4723
leahbishop@westandmainhomes.com

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Just Listed: Townhome Style Condo in Tabernash

This 2 bed, 1.5 bath townhome style condo has it all!

The first level entry offers a drop spot and space for gear. Down the hall you'll have laundry, 2 bedrooms, and a full bath plus access to a private fenced in yard! On the second level enjoy the private deck from the open living and dining area and spacious kitchen with plenty of storage. Low HOA dues and convenient location in Tabernash, with easy access to the Fraser to Granby trail, golf, and a short walk to dining and shops in downtown Tabernash make this one a must see!

Listed by Angela Sandstrom for West + Main Homes. Please contact Angela for current pricing + availability.

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Have questions?
West + Main Homes
(303) 935-8787
hello@westandmainhomes.com

Presented by:
Angela Sandstrom
(970) 531-0418
angela@westandmainhomes.com

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Building community rallies to complete 23 projects for individuals living with disabilities

West + Main + Home Builders Foundation’s 3-Day Blitz Build

Photo Credit: Home Builder’s Foundation

For 32-year-old Matt F., the past few years have consisted of a series of positive milestones. He married his sweetheart, Jess, and became a first-time homeowner.

These steps, which may seem ordinary for some, are especially significant for Matt who became a paraplegic at age 11 after sustaining a spinal cord injury during a sledding accident.

On June 11th, Matt celebrated another milestone when a landing and mobility assistance ramp were installed so that he can easily access  his new home in Edgewater using his wheelchair.

The installation was part of the 11th annual Blitz Build, a yearly initiative of the nonprofit Home Builders Foundation (HBF).

Blitz Build is a three-day event during which multiple crews of builders, tradespeople and volunteers build ramps and decks for individuals across the Denver area who are living with disabilities.

Since the initiation of the program in 2011, more than 200 ramps with a total retail value of $800,000 have been installed.

During this year’s Blitz Build, which was sponsored by Fiberon and took place June 10-12, 22 crews comprised of more than 200 volunteers completed projects for 13 individuals. The goal of the event is to enhance safety and the ability for independent living for individuals who utilize mobility assistance devices such as walkers or wheelchairs. 

West + Main Homes was one of the crews involved with installing the landing and ramp at Matt’s home. It was the first year the Real Estate brokerage has been involved in Blitz Build and West + Main co-founder Stacie Staub says it was a rewarding experience for all involved. 

“Having this hands-on opportunity to impact someone’s life and then see the finished product and how much value it provides was so powerful for all of us,” explained Staub.

Across town, a project crew from OrePac Building Products had a similar experience. Their team installed a ramp in east Denver for 12-year-old Hafeez who utilizes a wheelchair. Jennifer Eye, OrePac Office Manager says that her crew signs up early every year to ensure they have the chance to participate. “It’s a great bonding experience,” says Eye. “But the real reward comes at the end of the day when the client sees and uses the ramp for the first time. Hafeez’s smile will stay with all of us for a long time.”

The individuals who received ramps are living with conditions like severe arthritis, osteoporosis, Parkinson’s or partial paralysis as the result of an injury. Each wanted the ability to access and leave their own homes safely and independently, so they can elevate their lives and thrive in the community.

This year’s Blitz Build projects took place in Aurora, Brighton, Castle Rock, Denver, Edgewater, Federal Heights, Parker, Thornton and Westminster. Sponsors and material donations covered the $50,000 value of the ramps and event costs so that the ramps were completely free to the clients.

Blitz Build also has a fundraising component called “Ramp this House” that raises money to provide funding that will help the HBF to complete future accessible home modifications for deserving clients. 

About Home Builders Foundation

For over 25 years, Home Builders Foundation has enabled individuals with disabilities and their families to live more independent, elevated lives. Skilled volunteers and collaborative partners come together to create home modifications that empower greater access, reinforce safety and equip clients with the ability to tackle everyday tasks. HBF has completed home modifications including ramps, room alterations, bathrooms, and much more for more than 1,800 individuals and organizations. The request for modifications has more than tripled since 2007. Despite the challenges presented by the pandemic, more than 200 home modification projects were completed in 2020 and even more requests are anticipated for 2021. To learn more about HBF, visit www.hbfdenver.org. 

Keep reading - Colorado Homes & Lifestyles Magazine

Generation rent is looking to become generation buy

Generation Z is just entering the housing market, but their impact will be felt across the real estate industry.

Why? Because they value owning a home. In fact, according to a Realtor.com Gen Z Survey, 72% of those surveyed plan on buying a home in the next five years. And, like the millennials, they found a prime opportunity to save for a down payment during COVID-19, when they were able to curb spending. 

A Zillow survey of Gen Z (ages 18-26) and millennials (ages 27-40) showed that 83% saved money in at least one spending category during the pandemic. Almost three million have moved back home since spring 2020, according to Zillow. When asked what they plan to do with the cash, some 59% plan to use their savings for a down payment on a home.

Jonathon Aper, a Gen Z college grad who works in finance, recently purchased a home in North Texas. The pandemic lockdowns allowed them to save by cutting expenses like entertainment. Working from home meant lower gas bills, as well. Aper and his wife were looking for homes to meet the needs of an expanding family. They settled on a pre-owned home and planned to invest in renovating and reconditioning the house. Aper sympathizes with fellow Gen Zers and Millennials who are struggling to find a house in this market. 

Rising prices make it challenging to find something affordable. “The best advice I can give to Gen Zers is to hang in there. You’re not going to get [the home with] your first offer. It usually doesn’t happen that way,” he said. 

“Nowadays, houses are off the market so fast, your real estate agent [can’t] sit there and [say], ‘Hey, I’ve got these three houses for you to take a look at today. Let’s go ahead and plan a time.’ You have to do your research on realtor.com, Zillow, and reach out to your real estate agent and say, ‘Let’s look at this tonight!’ Otherwise, they’re going to be [gone]. The process is very fast.” 

What’s holding them back?

According to the Realtor.com survey, the holdback for Gen Z to purchase a home is job stability. Nearly half of those surveyed are employed. Some 45% of Gen Zers are already saving to buy a home, and 75% did not leave their current living situations to save on rent. Another 17% of those who did move only saved money to put toward a down payment. 

What’s the rush to buy a house, and what are the concerns that Gen Zers are facing? 

• 50% want more room for growing families.

• 49% see themselves living in the suburbs, while 19% said they prefer the space.

• Half are concerned about the economy and job stability.

• 43% of those can’t afford desired neighborhoods

• 34% are still in college.

Rachel Stults, the deputy editor of Realtor.com, said affordability is the key for most Gen Zers. They want to know they can get a good home and build on it later. 

“From exploring metros that offer both jobs and more affordable housing to saving for a down payment, Gen Z homebuyers know how crucial it is to have a financial leg up when it comes time to buy. If they can learn anything from the experience of the millennial generation before them, it’s the importance of laying the groundwork so that they can act quickly on a home in their budget. Prospective buyers should also plan for what they’ll do if mortgage rates increase or other housing market conditions change quickly, particularly coming out of the pandemic. In short, whether they plan to buy in two years or ten years, prospective Gen Z homeowners should be thinking several steps ahead.” 

Who’s influencing decisions?

According to Zillow, when it comes to the decision-making process for purchasing a home, including the financial aspects and deciding on home features, most millennials and Gen Zers reported discussing their housing decisions with their parents (71%) and friends (61%). Half discussed their housing decisions with their siblings, while not quite a third (29%) discussed them with their grandparents. They were least likely to report discussing their housing decisions with their social media followers — only 16% reported doing so.

Among millennials and Gen Zers who already own a home or have tried to buy one, most reported that the opinion of a significant other (60%) or parent (54%) influenced them not to buy a particular home. A smaller number of those surveyed (38%) said the same about a friend’s opinion.

Zillow’s research forecasts that there will be 6.4 million more households formed by 2025 due to a huge wave of millennials now hitting their mid-to-late 30s, aging into their homebuying years. About a third (32%) of Gen Zers and millennials reported that some friends have already purchased a home. 

For now, homebuying is a continuous struggle for Gen Z. It’s an unpredictable market that requires a balance of aggression and patience without overpaying for a home.  (Real Trends)

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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