Summit County Real Estate Stats | February 2023
As we wrap up February 2023, it can still be a great time to consider selling ski area properties while pent-up demand still persists. In fact, there were multiple instances of multiple offer situations this past month in Breckenridge. Yet, the days on market are rising for a vast majority of homes on the market.
Are buyers too busy powder skiing to be home shopping? This could be a legitimate distraction with the massive snowfall here lately. The weather can impede showings and road closures in the short-term, but it does keep visitors happy and returning again as potential buyers by Spring and Summer. The extra snow can be a wonderful boost for vacation income property owners, too. This year’s snow reports typically influence visitor choices for which resort to book their trips to in the following year.
For the first time in multiple years, the average sale prices are lower than the preceding period across Summit County. The number of real estate transactions continued a downward trend, which can be an early indicator for what to expect more of in sales prices, too.
However, inventory presents a mixed view. There are still less homes for sale than were in the years leading up to 2020 for this same time of year. But, inventory is rising and has surpassed levels it had been at this same time in the most recent past two years – which was already incredibly low even by historical accounts.
Most of us in ski country are not too bothered by the groundhog’s predictions for extra days of winter and powder snow this year. Spring Ski season is just around the corner, and so it only keeps getting better.
Are you considering selling or buying mountain real estate? Taryn is a nationally certified Pricing Strategy Advisor (PSA) by the National Association of Realtors. Taryn is a second-generation Realtor with experience in ski resort real estate and mountain cabins. Contact Taryn Brooke by phone at 970.333.8297 or by email at email@example.com.