As we bid farewell to another year of breathtaking fall colors, which graced our surroundings for a longer duration than usual, I am thrilled to announce that I am already hard at work on the upcoming winter edition of The Little Blue Book. In this edition, we will delve into the wonders of ski resorts across the country, promising an exciting exploration of these amazing destinations. Stay tuned for more details in the coming months!
In the midst of the current news cycle, I have noticed a heightened curiosity among clients regarding the potential effects on our local market. To address this, I embarked on a deep dive into recent statistics, and to my surprise, I stumbled upon something truly intriguing. Let’s delve into these findings together.
Between September 15th and October 15th, Eagle County witnessed a total of 106 sales. The price range of these sales follows the familiar bell curve pattern that is typical for our area with 26% of the sales below $1 million, 21% exceeded $3 million, and the majority of sales (53%) fell somewhere in between. However, what truly caught my attention was the significant number of higher-end properties that were sold using financing (including some creative financing such as seller carry). Given that the current real estate discussion is dominated by interest rates, this discovery adds an extra layer of intrigue.
In resort markets, it is often assumed that most luxury property buyers (purchasing properties above $3 million) prefer to pay in cash. However, a closer examination of our most recent sales revealed that anywhere from 45% to 68% of these transactions were financed. This challenges the conventional wisdom surrounding resort markets and adds a fascinating dimension to our ongoing real estate discussions.
