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January 2021 Market Summary

January 2021 Market Summary According to a December 2020 article in Forbes, over 6.5 million people were expected to participate in Dry January in 2021, which is the pledge to take the month off from imbibing in alcohol. Sadly, Mother Nature has also decided to participate in her dryness through much of the Rockies. When you are done reading this- please join us in a snow dance! Winter Park Resort has fared better than many CO resorts this winter and is reporting 159 inches so far this season and a 43 inch base. While the snow levels are not yet epic, that hasnt stopped folks from venturing to our high country both weekdays and weekends to enjoy the fresh mountain air. While listings are trickling in at a rate faster than the last couple months of 2020, they are often gobbled up by buyers within hours of listing. New construction opportunities are also selling out in pre-construction offerings in Winter Park, Fraser and Granby. There are currently 9 single family homes listed for sale in all of WP, Fraser and Tabernash that are move-in ready and 6 which are listed but not yet built. There are zero homes priced between 350K and 1.35M. ZERO! There are 39 homes, however, under contract which means we have had some listings pop up- they just sell faster than you can ski down Cranmer. The condo/townhouse market has a little more girth in the Winter Park Area (Winter Park, Fraser, Tabernash) with a whopping 20 listings (25 total if you count pre-construction availability). There are 92 units under contract. Keep in mind that many of these weren't just put Under Contract as many excited buyers are having to wait for their new property to be completed whether it be in Arrow, Grand Park, ROAM, Rendezvous or other new development areas. Speaking of new construction, there is lots of it going on in Granby with 27 properties (condos, townhouse and single family) on the market which started construction in 2020 and of those 27, 20 are under contract and awaiting completion. There are only 9 homes on the market that are move-in ready and range from 590K to 4.49M. Lastly, if youre in the market for land, opportunities are slim at this time in the entire county and there are likely fewer listings on the market now than any time in the past 20 years. The westward, high altitude, claim staking for dirt has been frenzied much like the residential sectors. As we move into February, please continue to put your trail maps in the freezer, bake cookies in the buff, do your snow dance or do whatever suits your fancy. We look forward to seeing you out for some POW sessions soon!

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