A Changed Market Yields Opportunities. And Who You Work With Matters
Our market continues to show its resiliency despite headwinds from inflation, interest rates and geopolitical uncertainty. No, it is not going to equal 2020 or 2021, that market was unsustainable. It is, however, trending back to pre-pandemic levels where we saw a healthy market supporting the objectives of buyers and sellers.
The unique circumstances of the last two years required brokers to quickly initiate virtual showings and navigate multiple offers and escalation clauses (to name a few) to serve the dynamic market. Today's environment relies on expertise that has been honed over years and decades. Pricing your home for today's market requires a thoughtful, detailed approach. Staging, negotiating, procuring showings and buyers have become critical elements as we represent sellers in this transitioning environment. For buyers, you have the chance to be more critical of homes and allow time to really contemplate your purchase. Buyers are able to achieve their goals by understanding where the market is and negotiating the best outcome. It's also our ability to help identify alternative lending options in today's interest rate environment and working closely with the brokerage community to serve all interested parties.
Homes today, like homes in 2019 and before, are selling when they are priced to the market, when they show well, are marketed properly and represented by a known and trusted advocate. That is what we do. Demand remains heightened for property in Eagle County. Well-priced homes are still receiving multiple offers and buyers are finding that there are more options available than the last two years. Can't find the property? We uncover off-market opportunities through our network of colleagues and with the same passion and work ethic, remain positive, despite what the headlines portend.
The numbers below do not tell the entire story. On the surface, while units are down, the balance of the numbers show a very impressive year. However, Eagle County's market began to slow when interest rates and inflation both rose higher than levels expected by many economists. The strength of the overall market in 2022 is a combination of early sales in Q1 and the resiliency of resort properties and luxury sales. For example, September was down 26% from a year ago in unit sales after being down 32% in August. This really is a Q2 and Q3 story and demonstrates just how quickly the market has transitioned from earlier in the year. That's just another reason it is so important to have someone with intimate knowledge of the area and current trends helping you in the market.
Numbers and trends aside, we have the good fortune of being one of the most desirable places to live in the world. If you are in Eagle County now, just a glimpse outside of the yellow, orange and red hues signifying our changing season is enough to remind you of how special our valley is. If you are curious about the market, want to talk about your specific situation, or maybe just to learn where the best place to view the changing Aspens may be, please reach out anytime.
