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Market Update June 2021

Here it is, the last day of June 2021 and we are about to formally enter the dog days of summer. Did you know that according to Merriam Webster's dictionary, these dog days refer to the hot summer days that occur between July and September in the northern hemisphere each year. It comes from the fact that Sirius (the Dog Star) rises during this time, simultaneous with the sun. Take that tidbit to your next dinner party. The secondary meaning Merriam Webster gives to dog days is a period of stagnation and inactivity. This latter definition may describe a hot pup on a porch but certainly not the current real estate market. While the trend is nothing unusual given the past 12 months, the numbers are still a bit mind boggling especially when looking at overall dollars spent year over year.

The single family market in all of Grand County has exceeded half year sales in 2020 by $67M. The Grand Lake area has seen the largest jump in volume, up by 119%, with a new average sale price up 63%. While some of this activity may be due to replacement purchases after the East Troublesome Fire, the demand for recreation along our corridor of lakes post pandemic has been extraordinary. Combined condo sales throughout Winter Park, Fraser, Granby and Grand Lake areas have increased over 75% in total dollar volume. Townhome volume has increased from 25 Million to 54 Million county-wide. Needless to say, the average sales price in every sector of our market escalated as well. Inventory comes and goes as quickly as ever and there are many buyers patiently waiting for their acceptance of contracts or their slice of paradise to come along. The threat of rising interest rates are not impeding the desire to purchase at this point and likely wont any time soon.

We are excited to announce the reboot of summer fun activities that we all missed last year. Join us for the local favorite, not-so-secret Music in the Park every Thursday evening, sponsored by yours truly. We look forward to meeting you at the park, outside (or inside) at our office, on the trails, around town or at your property! We are ready to boogie, bike, hike and enjoy time togetherdog days and all.

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