Signs of Market Normalization
 
Buyer demand we have been referencing since the start of the year came to fruition with closed sales in March.  After January and February had only 49 closed sales each month, lower interest rates and continued market activity brought closed sales to 70 - 43% higher than the first two months of the year and only down 21% from March 2022.
 
Mortgage rates are stabilizing and trending down.  This may be ideal timing for the spring and summer seasons when most of the valley's sales occur.  Purchasing power for buyers who finance will increase with rates declining and the expectation is that an increase in available homes for sale may stabilize prices in what still remains a seller's market.
 
Overall, the market is nuanced and hyper-local.  Trends in one area may not be the same in others.  If you have specific questions about your property or area you are looking to purchase, let's have a conversation.  In the interim, enjoy our extended ski and snowboard season and look forward to all the events and activities to enjoy in the spring and summer months.  

We are proud to announce that once again we landed in the top 50 companies with Berkshire Hathaway HomeServices. A big congratulations to all of our 140 brokers in 12 offices and staff that contributed toward this prestigious award.