Eagle County and the Vail Valley continue to show market resiliency, with March sales up 47% over March 2023. While the average sale price was down, and days on the market were on the rise,.
Despite lower numbers of sales (71 in May 2023 vs. 129 in May 2022) and an increase of days on the market (76 vs 27 in May 2022), real estate fundamentals are reemerging and driving.
Unlike the steady (frantic) pace of 2021, this year’s real estate market experienced some significant changes. While the first quarter was a follow-through of the hyper-activity our markets saw in 2020/2021, inflation and interest rate.
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The informal selling season is beginning to wind down and what we anticipated three months ago has manifested into a reality. Interest rate increases, while still at historically lower levels, have caused some pause in.