ELK SPRINGS MARKET REPORT

I create and mail a custom market report for Elk Springs residents twice a year, in January and in July to provide a year-end and mid-year update on real estate sales activity. I provide data for homes and vacant lots, looking at current statistics and historical sales numbers since 2018. Below you’ll find the most recent report, as well an archive of past reports.

Dear Elk Springs Residents & Landowners, 

Here is a custom market report with home and land sales statistics in Elk Springs from 2018 through the end of 2023. 

Low home inventory in Elk Springs is similar to the rest of the local market - values continue to climb, due to limited options. Values since 2018 have nearly doubled! The 3 current listings for sale (2 of them spec homes, 1 resale) are all listed over $2 million. Therefore, I suspect that average home prices in Elk Springs will continue to exceed $1.5 million and that we’ll start seeing more and more sales over $2 million, perhaps even over $3 million in the next couple of years. 

The introduction and subsequent sale of over 60 lots in filing 9 in the Springs of 2021 and 2022 created a flurry of lot activity. There were only 13 lot sales in 2023, demonstrating a significant slow down in the land market. This is also true of the land market throughout the rest of the Roaring Fork Valley, due to high construction costs. The good news is that lot prices are still relatively high (an average of $326,000 with the highest sale at $395,000), but the slower pace means that lots may take longer to sell going forward. 

I have several qualified buyers looking for homes in Elk Springs, including a local family looking for a spacious home with at least 4-5 bedrooms. If you are thinking about selling your property and curious about your options, please get in touch! 

REPORTS ARCHIVE

Are you thinking about selling, but not sure what your next move is? Contact me today to set up a consultation.