September 2020 Market Update

In this unusual year of unprecedented events, it is safe to say that no one could have predicted how our mountain summer would come to a close. September was bustling with more visitors than usual during the back to school time of year. We seem to be skipping shoulder season with travelers seeking outdoor activities on the trails and lakes, the parks and the downtowns of our county. Weve noticed a lot more new trucks and campers out and about than years' past. and the frantic nature of buyers has been overwhelming this summer, which has continued through a very smoky and dry September. In reviewing the statistics compared to September of good 'ol 2019 (sigh), the numbers are astounding. If youve been shopping for a residential property in Grand County, you may feel frustrated by the lack of inventory, bidding wars and emotional rollercoasters that occur in a tight market. Sales volume doubled in Winter Park and Grand Lake and tripled for homes in the Granby area (Sept '19 vs Sept '20)! The year to date numbers reect less dramatic increases in sales volume and units sold but there were some crazy spikes worthy of mention. Vacant land sales in the Grand Lake area jumped 178% in overall volume and 83% in number of parcels sold. Land sales are up in the Granby and Winter Park areas along with average sales prices. Granby vacant land average sales price jumped over the 100K mark and vacant land in the Winter Park area increased from 200K average to 245K for a 22% increase. Condos and townhome sales are up in almost all sectors (Grand Lake condos are the only sector down) but we saw modest increases in volume, units sold and sales prices. Single family homes are the highest in demand these days, which we speculate is due to the new norm of social distancing. The Winter Park area has experienced the biggest jump with a 63% increase in sales volume and 40% increase in sales price. There are currently 12 homes listed in the town limits of Winter Park. 11 of them are pre-sales in ROAM. Only one of them has been constructed where you can occupy it in 2020. There are 11 in Fraser but only 6 are currently ready for occupancy. The Grand Lake area sales volume is up 24% while Granby remains at with a 2% increase but if you recall, Granby had a big uptick in 2019. We will continue to keep you posted on activity in the area. Please help to do your rain (or snow) dance to clear the air and squelch these wildland res. Weve been very fortunate to have no private property or human losses in the nearby res. Peace, love and pumpkin spiced lattes from your friends at Real Estate of Winter Park.