John Gerhard makes market conditions presentation to Estes Park Board of REALTORS

Greetings from Estes Park!

The Estes Park Board of REALTORS received a presentation from John Gerhard, of the CSU Everitt Real Estate Center regarding our current market
conditions. CSU has been studying market areas in Northern Colorado since 1997 and has compiled very detailed market statistics based on paired sales data, which follows properties through repeated sales. Since 1997, residential properties in Estes Park have appreciated approximately 150%, with a peak happening in 2008.

The research conducted by the Everitt Real Estate Center, powered in part by a technology donation from Hewlett-Packard, is more detailed than other indices such as Zillow, that report home prices for broader metropolitan areas. The study uses Geographic Information Systems, (GIS), to select the data. “In spite of the declines in values across Colorado, home values can vary significantly by neighborhood. In Northern Colorado, for example, there is still home price appreciation occurring within neighborhoods despite the publicized trends,” commented John Gerhard.

Recently, the Colorado Association of REALTORS announced an agreement with the Everitt Real Estate Center at CSU produce residential real estate research on a nearly statewide basis. CAR president George Harvey stated, “We are extremely pleased to collaborate with CSU and its prestigious Everitt Real Estate Center to provide a research based tool that will help all parties engaged in real estate transactions to make wise decisions.” to