JULY REAL ESTATE NEWS - EAGLE COUNTY
Inventory Rises - Will Buyers Follow?
The market has settled into its historic (pre-COVID) pattern with inventory rising and likely to increase into early August. Today, there are 35% more residential properties on the market than a year ago and that bodes well for buyers looking to make a move before the end of summer and start of the winter season. Generally, there is a two to three-week lag in buyer activity when new properties come to market so July should tell the story of how active our market will be through the balance of the summer and fall seasons. There is strong evidence that demand remains high and sought-after properties are garnering multiple offers, from starter homes in our bedroom communities to $20m+ estate homes on the slopes.
Increased inventory and options for buyers underscores the importance of pricing your property to the market. While home prices continue to rise on a macro level, the unique neighborhoods of Eagle County behave differently and are tied to a myriad of factors. It is more important now than ever before, to consult with a real estate professional.
If you are interested in exploring the sale of your property, let's connect! Values remain strong, yet buyers, with more options and inherent interest rate considerations, are more critical of properties and their pricing. While not an exact science, we have an excellent grasp of the market, detailed information of sales (and motivating factors behind them), and a 53-year track-record of success.
Whether or not you are in the market to buy or sell, I hope you enjoy all the valley has to offer this time of year. From Bravo! and the International Dance Festival to Gypsum Daze and the Eagle Fair & Rodeo, there is always something happening. And even when the events are quiet, the trails, rivers and streams, golf courses, and pickleball courts all offer opportunities to engage and connect - with the outdoors, friends, and family.
Market data from the Vail MLS. All statistics are deemed reliable but not guaranteed and BHHS may not have participated in each reported sale. Please contact me for statistics in your specific neighborhood. I have some great reports I can share with you about your neighborhood or one that you are interested in.
LOCAL EVENTS
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