Quarter One 2009 Market Update

Date: Jan. 27th, 2009

With mortgage rates at an all time low and increased inventory at record could be the time to buy your second home in the Colorado High Country! Even though we have seen a slow down of the mountain markets in recent months, we still have positive news to report. While the average sales prices increased some 10% from 2007 to 2008, we saw a 44% decrease in the number of properties sold in 2008. This created a jump in inventory starting in the fourth quarter of 2008. These numbers are beginning to "normalize;" nevertheless, many homeowners have elected to withdraw their property from the market to wait and see what the spring has to offer. One reason for this slow down can be credited to the "tightening" of the lending industry. Good credit and cash are a must to purchase a home in today's second home market. To view a our current market snap shot in the Beaver Creek, Breckenridge, Copper Mountain, Dillon/Summit Cove, Frisco, Keystone, Silverthorne/Wildernest, and Vail CLICK HERE...