Is Drake, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Drake is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Drake was a Seller's Market.

Key Takeaway

Drake is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Drake, CO

How much do homes in Drake, CO cost?

Median Sold Price

$455,000

$401/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$40,000(-8.1%)

Key Takeaway

Homes in Drake have sold for 8.1% less than they did a year ago.

Summary: The median home sold price in Drake was $455,000 in April 2024, down 8.1% from last year, and the median price per square foot was $401.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $402.5K$240K
-40.4%
2 $411.6K$444K
+7.9%
3 $578K$603K
+4.3%
4 --
N/A
5+ $995K-
N/A

Summary: Drake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 40.4%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 4.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Livermore
+4.5%
Estes Park
+3.4%
Drake
-8.1%

Housing Supply in Drake, CO

How many homes are available in Drake, CO?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1319+46.2%

Summary: The Drake real estate market had 19 homes for sale in April 2024, a 46.2% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 33
0.0%
2 68
+33.3%
3 37
+133.3%
4 11
0.0%
5+ 00
0.0%

Summary: The Drake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 133.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Drake, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Drake in April 2024, up by 200.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Drake, CO

How long does it take to sell a home in Drake, CO?

Average Sale Time

Apr 2023Apr 2024CHANGE
144 Days177 Days+22.9%

Summary: Homes in Drake had an average of 177 days on market in Apr 2024, up by 22.9% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Drake are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During April 2024, 3 homes were sold in Drake; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in Drake, CO

Nearby Markets to Drake, CO

What housing markets are near Drake, CO?