Vail Real Estate Statistics Summer 2020: As we enter the second half of summer, the Vail valley continues to be one of the most sought-after communities in the country. A mix of pent-up demand, our natural busy summer season and the migration of people away from large metropolitan areas around the country has driven real estate demand, and in-turn sales, to not only the Vail Valley but mountain communities across the western United States. As we close out July, pending sales are up 50% from this time in 2019. Demand is exceeding supply as evidenced by a 20%+ reduction in available inventory. Well priced properties in good condition are selling quickly while those testing this active market remain stagnant (not atypical for any market environment).
For those of you considering selling, there has not been a better time since before the recession. With interest rates hovering at all-time lows and an engaged and active buyer pool, sellers can benefit from the current state of the market. We are often asked: “if I sell, what will I find to buy?” – a fair question. We have strategies for home sellers who need to purchase a replacement property and will ensure that you are protected when you make the decision to sell and find the next, right property.
For buyers, the speed of the market means that preparing in advance for your home purchase is a must. If you are financing a property, having your prequalification letter in-hand is critical. Those in town need to be prepared to view a property quickly when it comes to market while those out of the area should be ready to make offers remotely – we can build in time to see the property in person if that is necessary. Leveraging new technological tools has made the home buying process more accessible from afar and we are here to help guide you through the entire process.
Questions about your home or area of interest? Call, email, Zoom, text me! I’m here to help in any way.