First Quarter 2020 Douglas County Horse Property Market Report — Mini Highlands Cows at Wicked Windy Ranch

Douglas County Horse properties are homes listed within Douglas County, Colorado that have 3 or more acres, and the zoning allows for horses.
We have a limited number of homes on the market, but prices are not increasing to support the needed supply.
If you need expert guidance on listing your horse property, call me. I can help you navigate this market.
If you are looking for your dream horse property, they are out there. You have to know where to look and be ready to make a competitive offer when you find it.

Supply is not commensurate with demand

For March 2020, we have 59 homes available. (Typical March inventory is closer to 80-100 units).
We have 59 homes under contract or that have closed in the last 30 days.
This indicates we have less than one month of supply available. Typically, we have 2 to 4 months.
I could make a Toilet Paper panic joke here, but you get the point.
And the situation for horse properties under $1M is even tighter.
We had 52 homes that are under contract or pending while we only have 24 homes in available inventory.
We expect to see prices increase to support the demand.

The median sales price for horse properties has risen by almost 50% since 2010.
However, the sales price has fallen by 10% from $721k in 2019 to $644k in the first quarter of 2020.

Since last September, we see close (or sales) prices for less than the asking price.
Sellers are trying to get more for their homes, but the buyers aren’t ready to increase their offers.
Given the low level of inventory, this typically means that the available homes have more motivated sellers.