Last month I reported that the market was steady. And it still is, relative to the last 18 months or so. With 11 interest rate hikes since March 2022, along with substantial short-term rental restrictions in Summit County, our market is seeing signs of a new normal...
Steady Eddy. Earlier this year I predicted that our market may face downward pricing pressure this fall after the summer selling season ended. But, what I’m actually seeing is a steady progression of the market without any dramatic changes. Here are some indicators...
We completed our Mountain Trends report for 2Q2023 with data through June 30, 2023. I have included a FULL copy of the trends packet that covers not only Summit County, but also Grand County, Vail/Beaver Creek, and Durango. You will see that there is a slight decline...
Last month I was disappointed in the drop off in transactions in our market. July is a bit higher, but is still below historic numbers. July 2023 has a total of 122 closings. Historically this is at about 65-70% of usual transactions. July 2022 was also quite low, at...
I have been watching one statistic closely because I think it best tells the state of our current market: Number of Sold Residential Properties. This metric is the real time data of how quickly properties are moving. In my personal day to day business, I can tell that...
The real estate market in Summit is slow. Of note, May only had 66 closings. Only one month since January of 2015 was less and that was January 2023 at 60 closings. Wow is all I can say about that. In the last 30 days 85 properties in Summit have gone under contract....
