High Demand to Start the Spring Selling Season
Demand continues to outpace supply (inventory) in Eagle County – though the degree varies from neighborhood to neighborhood. The positive news is two-fold – we are entering a historic period of increased supply throughout the valley and for those obtaining financing for their purchase, it is expected that mortgage interest rates will remain stable, in the low 3%-range, for the balance of the year.
Recently, Senior Vice President of Research for the National Association of REALTORS®, Dr. Lawrence Yun, presented his outlook for the year to the Vail Board of Realtors® and he was positive about our market and our overall economic future. As travel in the U.S. continues to grow and pandemic-related restrictions ease, our local economy and thus real estate market should see continued, steady growth.
As we enter the later stages of our winter season our market remains strong. Sellers remain in a good position to maximize their sale price as buyers continue to enter our market. For buyers, it’s imperative to be prepared and in-tune with the market to make a decision quickly about a property of interest.
If you are considering a move, call me today so we can best outline a plan. For current owners, I am happy to provide a most recent market analysis of your property (it is changing each month) and those looking to buy, let’s discuss our strategy moving forward.
Real Estate Demand Continues Through February
The six months of pending sales show the height of our market in August and September and a natural pause as we entered the holiday season.
2021 numbers show continued demand and if trends continue, we will see increased inventory in Vail Valley real estate to match that buyer activity. This should result in an upward move for pending sales in the last month of our ski and snowboard season.
