Low Inventory and Creating Opportunity
December Real Estate Update
The nationwide housing inventory shortage continues to add a dynamic element to our local market as the valley has seen the same narrative for the past two winter seasons. But there is much more to the numbers than just “inventory is low” and that is where I can add value to your real estate goals. Low inventory is just a state of the market – it does not have to define it. The value is understanding the impact low inventory has for you personally and where opportunity exists in the market.
As of December 6, 2021:
- Active residential properties: 174
- Listings under $1m: 25
- Listings between $1m and $3m: 45
- Listings over $3m: 104
For buyers in the resorts and overall luxury properties, there is better inventory availability than the bedroom communities. Over half (60%) of the homes for sale in Eagle County are priced over $3m – which allows buyers more options in Vail, Beaver Creek Resort and beyond. The under $1m market is an opportunity-rich environment for sellers hoping to maximize their sale price.
With buyer activity strong, prices continue to increase – perhaps not at the height of the last 12 months but still at a healthy level. Value is not limited to crafting narratives around the inventory levels, but going outside the formal market to uncover unlisted sellers for buyers looking for a unique opportunity. The good news, in general terms, is that we are at a historically low point of inventory in all price niches. As we turn the calendar to 2022, expect that more homes will become available throughout the late winter and spring months. Remaining connected with your goals is a priority for me. Let’s discuss the market, your area of interest/need and whether on or off market, I’ll help you create a successful outcome. Until then, my best to you and your family and friends this holiday season.