We all know that February is the shortest month. 28 days packed with fun filled holiDAYS like Groundhog, Valentines and Presidents’. A shadow spotting critter, some love sharing and a Monday off of work and school with lots of powder if you were in the mountains! According to Out There Colorado, Winter Park Resort just surpassed Copper Mountain with the most snowfall in the state. Winter Park eked out its sister resort to the west with 259” of snowfall this season (with Copper at 256”). These are fabulous stats to see this time of year for our hometown ski hill. Granby Ranch skiable terrain is 100% open and WP is 94% open.
As for the real estate numbers, our market is too small to give a ton of credence to stats this early in the year vs a more urban market. Larger resort areas like Summit and Eagle County stats are similarly too early to show concern, excitement, fear, etc. But since we like our numbers…. Year to date, the big picture shows sales volume to be down across the board EXCEPT for vacant land sales in the Grand Lake and Winter Park areas. Residential sales dollars of condos and homes are down everywhere but the unit difference (aka how many properties sold) vary by maybe 3-5 properties- not enough to throw a fuss or a parade.
New construction projects are still cooking throughout the Valley including both market rate units and attainable housing projects such as St Louis Landing (formally known as Victoria Village in Fraser) and Nuche Village in Granby, Both have significant funding and should be breaking ground in the spring. Winter Park continues to build the Hideaway Junction product for local buyers employed in the town or County.
Nationally, the market predictions are in sync with early 2024. Various outlets suspect pricing to continue to rise by 1.5% to 3% on average, new builds are still behind where they need to be to keep up with homebuyer demand and interest rates should level out around 6.5% for the bulk of 2025.
Take that summary with a snowflake of powder (or a grain of salt if you’re reading this outside of Grand County). And with that, enjoy the remainder of this short month - so short, Mardi Gras didn’t even make it into the February calendar! "Laissez le bon temp roulez" and "snow baby snow"!
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