Our market here in the Winter ParkFraser Valley of the Northern Rocky Mountains of Colorado is going pretty well. Weâre a second home, resort market so we tend to follow the Denver market but with a distinct difference in timing. The sellers donât necessarily live here in the Fraser Valley so there isnât a push to move and the buyers arenât moving in either, so itâs interesting.
That said, here is a summary of sales using information compiled from the Grand County Board of Realtors. This data represents 2015 as compared to 2014.
Residential property in the Winter Park area had strong sales in 2015. In fact, the total volume of sales of residential property in 2015 increased by 8% over 2014. The average sales price decreased by 2% but thatâs a temporary situation. The reality is that inventory is now at a very low number which translates to the fact that average sales prices will start to increase.
Condominiums in the Winter Park area experienced a 31% in total sales volume over 2014, with an average increase in sales price of 14%.
Vacant land isnât showing quite the brisk market as residential and condominium sales but weâre seeing some positive growth in this category also. Total sales volume and average sales price of vacant land in the Winter Park area is currently showing a decrease over 2014 but this is partly due to the low number of sales and how it makes the statistics swing. The number of lots selling each year since 2013 has been increasing, so weâll start to see that inventory decrease soon.
Overall, our market up here in the Colorado Rockies is heading in the right direction. Typically our market is fairly slow at this time of year but weâre experiencing higher than normal showings and even having multiple offers on some property. Interest rates are still extremely low and this is definitely the time to purchase mountain resort property.
Author:Janene Johnson Phone: 970-531-2284 Dated: February 22nd 2016 Views: 929 About Janene: Raised on the east coast, Janene moved to Colorado after falling in love with the area while here on...
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