Market Activity Yields New Dynamics
The colors of our fall season may have just peaked but there are still opportunities to take in some of the colors – especially if you head toward southern Colorado. Winter is approaching with snow expected to start converging on the mountains and for all of us, that is welcome news. The traditional seasonal market activity has tempered our markets – if just a bit. Depending on your specific area of interest there are buying opportunities and for those looking to make a move and sell, yes, it’s still a good time. While the last 12 months have averaged approximately 18% appreciation nationwide (CoreLogic), that number changes fairly dramatically depending on the very specific area of interest. That said, a recent survey of real estate entities expects home appreciation to be about 5.2% nationwide in 2022. So, if you are expecting a significant shift in the market and waiting for the proverbial “dip”, all things being equal, waiting to purchase may cost you even more than today.
Headline numbers through the end of the year in Eagle County will likely show another record year for real estate. 2021 carried the momentum of an active housing market in 2020 that was expedited by the onset of COVID-19 and one that has been increasing since 2012. 2022 is setting up to be a different year as buyer demand remains solid with inventory levels hovering around all-time lows.
For home sellers, limited supply means that prices should remain strong (but not at the levels of the last 12-months) and the window to maximize their return is still open. Significant buyer demand should keep inventory levels low and thus it remains a “good time” to sell in the market.
For buyers, they are now accustomed to the market and its speed and for those prepared to move quickly, opportunities will arise, though our traditional selling season has been replaced with more of a year-round feel and the “right” property may come to market at any time.
Ultimately, it comes down to intimate market knowledge, uncovering opportunities and expert guidance through the process to create a successful real estate experience. Contact me today or anytime to discuss your specific goals and together we’ll craft a plan to achieve them.
