Eagle County’s residential real estate market continues to improve and shift toward a more balanced market, with inventory approximately 21% higher than the same time in 2023. Home buyers, who have waited for more properties or interest rates to retreat, have been rewarded with a good supply of homes and rates continuing to come down, now hovering in the low to mid-6% range (as a reminder, historical mortgage rates are about 7.38%).
Market fundamentals have also returned. Condition, location, and price continue to be the drivers of properties that garner multiple offers versus those that remain on the market beyond our current average (July averaged 72 days on market). Properties coming to market can expect to see the most interest and traffic from immediate buyers so positioning your property to sell from the onset is vital.
Key elements to factor in to sell quickly include pricing to market value, staging, professional media (photography, video, and immersive/virtual tours), and advertising. This is where the value of working with an experienced, local broker can make the difference between a smooth and timely sale versus one that sits on the market and ultimately, prompts a price drop to sell. The most concentrated number of showings will occur almost immediately (or should), so it’s important to be well-positioned from the onset.
The Eagle County market continues to stay active and is expected to continue to remain strong through the fall. Many owners who wanted to en.