What’s the real estate market doing in Summit County, Colorado? – August 2017

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Market update August 2017 – Here Henry tells us about the current changes in the real estate market in Summit County, Colorado…

Hi this is Henry Barr with The Barr Team at ReMax Properties of the Summit in Frisco Colorado. Today I just want to do a general update on the market because we are starting to see a little bit of change in the marketplace. The market for most of the year has been very much into a Seller’s market with very little inventory and Buyers scrambling to find properties that fits their needs. Through the summer inventory has increased significantly and I would say we’re at a pretty even keel for the amount of inventory we have as to demand. I wouldn’t say there’s a shortage of inventory market wide, there are some pockets where there are a shortage of inventory, but there is inventory in most segments of the market right now. And the inventory has been at, what has been, almost record high prices. Now that has begin to level off a little bit and sorta stalled on the price increasing and actually in some cases we’re seeing price decreases where properties got too high. The market is trying to level off and seek its level. If you are looking for property, I suggest you take a hard look at what’s out there because we are seeing price decreases and some prices are dropping down to levels seen earlier in the summer. Please take a look at today’s marketplace, it’s a little different than it was 2-3 months ago, or at least a month ago, it’s dropped off a little bit, particularly in the high end. The lower end under $600K is still very strong with some shortage of inventory.