As Expected, 2021 Starts off Strong
Real estate sales in the Vail Valley for the first quarter of 2021 looked very similar to the second half of 2020 - with buyer demand outpacing inventory at a historic clip. The optimistic view for home buyers is that we are entering a four-month period of traditional rising inventory levels which should give home buyers more options. And more available property, coupled with macroeconomic factors, could even stem the pace of rising values – time will tell.
Legacy estate properties of $78m and $37m went under contract during the quarter, demonstrating that demand at even our highest luxury levels is consistent.
Overall the message remains the same – homeowners looking to capitalize on their value should look to sell in the next few months while the buyer demand remains heightened. Between April and late July is historically our busiest time in the market and with prices in many neighborhoods at record highs, opportunity awaits!
After a relative pause during the holidays last year, pending sales throughout the valley, in all price points, have maintained strong momentum. Expect the trend to continue through the summer as more properties become available – meeting buyer demand during our very active summer season. Questions about the market or your property value? Contact us anytime to discuss.