Evergreen, CO - In a website post, Shad mentioned the status of real estate in Evergreen and how he plans to tackle it.
The real estate agent broker revealed that Evergreen is a seasonal market. He explained that home inventory is at its highest starting in March each year and ending in late October.
He further noted that there are fewer homes on the market in the winter months and maintained that while that does not mean there are no homes for sale, it does mean there are less of them. The selection of homes is better in the summer months, but investors are more likely to get a better deal in the winter.
He stated that overall, Evergreen Colorado is a unique market in that the average price of a home is $1 million dollars. Evergreen buyers tend to demographically skew a little older, have owned several homes in their lifetime, and have plenty of equity for a down payment.
Shad explained that these investors also tend to be deeper into their careers and earn considerably more than the average US household. As such, he clarified that these buyers are less likely to be concerned about interest rates increasing a few points.
The real estate agent in evergreen co further revealed that Evergreen Colorado as a community is pretty much built out. This means it's not hard for demand to outpace inventory in the Evergreen market and that tends to stabilize prices especially for homes that are in high demand.
He echoed that what he’s seeing in the market is that homes that are in below average to average condition are selling for a little below list price at present time. Homes that are in highly desirable neighborhoods like Hiwan, The Ridge at Hiwan and Hiwan Hills that are in excellent condition and are updated are still getting multiple offers and selling for above list price.
Shad explains that interest rates most likely have peaked and will continue to fall throughout the first quarter of 2023. He maintained that this very well may reignite buyers' interest to buy homes and lead to increased demand. Nationally the real estate market struggles with a deficit of properties to keep up with demand.
Shad, being one of the top producing real estate agents in Evergreen, amplified that they have been preparing for this shift since the last quarter of 2022. They have been increasing their marketing efforts online to help to better educate the public about exactly what is going on with the real estate market in Evergreen Co.
About Shad Phillips
Shad has created a team that is ranked #1 in highest units and volume in 2020 with KW Foothills Realty. He is recognized as an industry leader in the residential real estate market due to his 21 years in media and marketing using the combination of video, social media, and relationship marketing. As a Certified Mountain Area Specialist (CMAS), Shad is a forward-thinking agent that guides his clients to help them understand the mountain area intricacies that make the Evergreen market unique.
Company Name: Shad Phillips
Email: Send Email
Phone: (214) 682-2113
Address:32214 Ellingwood Trail Suite 100z
State: CO 80439
Country: United States