With Home Prices So High, Many Foothills Homeowners Are Wondering If It’s Time to Cash Out

The run-up in home prices has been breathtaking, hasn’t it? It’s difficult to predict how much longer it will last, but Rita and I, like many other folks our age (in our 70s), have concluded that we should cash out — sell our home, invest the proceeds and move into a 55+ rental community, knowing we will outlive our money.

Social Security, Medicare and appropriate long-term care policies for each of us can provide additional peace of mind regarding our medical needs as we age.

The chart at right shows the run-up in prices in Evergreeen/Conifer over the last 14 months. The median sold price is up 26%, and the average home sold last month for 1% above its listing price, while the median days on the MLS dropped to half what is was in January 2021.