It is challenging to summarize what’s happening in the real estate market right now. Our phones and computers are constantly pinging “breaking news” alerts whether it’s daunting information related to stock markets, global politics, extreme weather events or celebrity foibles. We’d like to present a fresh, spring-y evaluation of the uplifting “breaking news” in our mountain wonderland. Here goes….
There has been a surge in vacant land sales most notably in the Winter Park Area and Kremmling markets. Grand Lake sales volume is also up slightly over this time last year. Remember the quote by Mark Twain? “Buy land, they aren’t making any more of it.” This is a wise adage in most markets, not just our micro-market in Colorado.
There have been over a dozen commercial sales since the start of the year in Grand County which indicates a favorable future when businesses change hands and commercial properties are acquired. Spirit Lodge and the Terrace Inn in Grand Lake are two of the notable sales. More to come next month with a couple of large transactions in the Winter Park Area.
Bullish investors and developers have broken ground throughout the county on new and ongoing projects starting at the south at Lakota Pointe to ROAM to Sojourn to The Landing Townhomes (located across from the proposed gondola in Winter Park).
In the Granby Area there are loads of projects going vertical at Granby Ranch. The Meadows Townhome project, located near Middle Park Medical Center, are starting to close the rest of the phase of townhomes starting at $599K. If you head up the hill to the ski resort, you’ll notice many spec homes and townhome projects underway. Grand Elk continues to sprout vertical product from townhomes to single family homes and Nuche Village is also breaking ground. Nuche will offer attainable housing along with residential rental opportunities. This is an incredible and much needed housing development for our local workforce located just off Highway 40 near the Flying Heels rodeo grounds.
As we celebrate the end of a strong ski season (Winter Park Resort claims the #1 Colorado resort for snowfall this season at 340 inches), we look forward to the sounds and smells of springtime. Don’t put away your boots and coats just yet but tune those bikes, dust off your paddle board and golf clubs….its almost time!
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