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Monthly Market Update - November 2022

Happy Thanksgiving week. It's the calm before the visitor storm here in the high country and a predicted white turkey day as well! We’ve enjoyed some great early season snow bringing our current snow pack to 100% of normal and a mid mountain WP resort base of 18”.

Bring it Mama Nature! We are ready!

The biggest and best news - the mid-term elections are behind us! No matter your political affiliation, we can all rejoice that our mailboxes are free of propaganda and smears. The stock market looked favorably post election which created a lender celebration with some slightly lower interest rates. The party is over and we have more work to do to flight inflation and bring rates back down for the longer term.

The local real estate market hasn’t changed drastically since our October report, but this is typically a quieter time of year with the holiday season upon us. Condo sales remain strong in the Winter Park and Granby areas. There have been over 55 new construction sales in Rendezvous (single family), Timber Fox condos in ROAM (Building 1-sold out), Apres Winter Park (condos and commercial), Meadows and Grand Park (condos and townhomes), Village at Eagle Ridge (townhomes in Grand Elk) since September 1, 2022.

Another interesting stat: there have been well over 80 commercial sales in Grand County since the start of 2022. These range from airplane hangars to multi-family land to storage buildings to waterfront properties to new commercial construction. When commercial is strong, that reflects a bullish minded investor. Translation - residential sales and development should follow the same trajectory.

We know the upcoming weeks will be busy for all but we hope you are able to spend time in the mountains, breathe in the cold fresh air, enjoy family and friends and celebrate all that is important to you. Stop by and say hello if you’re in town!

Your friends at REWP are grateful to know you.