Our market is shifting back to more typical fundamentals. Price, location, and condition factors, elements that our residential real estate market deviated from at the height of the pandemic era, are returning. Interest rates, too, are back to more normal fluctuations with some additional trending down in the last few months in anticipation of macroeconomic shifts.
All to say, we are returning to a more normal state and predictable buyer and seller activity in the market. Compared to 2023, Eagle County residential real estate activity through the third quarter of 2024 shows unit sales up 7.62% and dollar volume up 9.
15%. These gains demonstrate continued strength in the market as we enter the winter season. Buyers remain actively engaged, but also critical of pricing.
With strength in equity markets and more favorable interest rates, 2025 should be an active year for both the luxury/resort and mid- to downvalley markets. Additionally, home price appreciation is expected to be modest nationwide. The dual mix of lowered interest rates (and potential to move down further) and more inventory continuing to come to market are expected to create attractive opportunities for buyers as well as sellers looking to make a move.
While this is generally a quieter time in the market, activity still exists and those who have been on the sidelines may find this time of year advantageous for making a move. Mark Weinreich, broker associate with Berkshire Hathaway HomeServices Colorado Propertie.