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September 2022 Real Estate News Events In The Vail Valley
Dated: September 9 2022
"Normal" Market Trends Emerging
The informal selling season is beginning to wind down and what we thought was occurring three months ago has manifested into reality. Interest rate increases, while still at historically lower levels, have caused some pause in the market but generally for primary home buyers. This has resulted in sellers being more market-sensitive to prices and pricing more to attract buyers than to test the market. Thanks to some creative lending and more realistic sellers in the market, deals are happening - just not at the pace of the frenzy of a few years ago.
Prices remain at high levels but buyers have more options and are more critical of properties, their pricing, and condition than a year or two ago. Sellers today must be nimble - but if price, condition, etc. are to the market, the demand remains. Multiple offers on attractive homes are still happening, although tempered.
Throughout the valley, July and August were quieter than even pre-pandemic years, though the end of August and into September has seen more activity with some ultra-luxurious properties going under contract and more buyer demand than normal years. There is always a bit of an activity surge as we say goodbye to the summer and plan for winter's arrival and that appears to be playing out - which is a welcome occurrence - normal activity.
If you are curious about the market from a purchase or sale perspective or just want to speak in general about the valley and real estate, activities or the upcoming winter season, please reach out anytime, I'd be delighted to visit with you.
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Mark grew up in Baltimore, MD and moved to the Vail Valley in 1992. He didn’t wait long after moving here to open what is now one of the most successful ski shops in the valley, Venture Sports. Seve....
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