The take away from the current market is simple: It’s a great time to sell a Vail Valley home right now. This is an archived edition of our regular news brief. Visit our Vail Valley Real Estate News page for the latest from the Rocky Mountain Home Team.
May 24, 2018
It is a great time to sell a Vail Valley home right now. Here’s why:
May is the start of our busiest selling season. Spring through summer is usually when buyers like to buy and settle in before fall/winter rolls around again.
The current inventory is low. Demand is outpacing supply for Vail Valley homes right now. The Rocky Mountain Home Team has more would-be buyers on standby for the right property than usual even for this time of year.
Buyers are watching interest rates rise. Part of the reason for today’s high demand is the expectation that interest rates will continue to go up. This is pushing buyers “off the fence” and into the market.
Thinking about making a move?
In the future, rising interest rates may create a drag on prices by reducing the amount buyers can afford. That means not only selling for less but also being able to afford less when you decide to buy your next home.
The Rocky Mountain Home Team is currently helping no less than five clients sell their existing properties while buying new homes – usually closing and purchasing on the same day! We have plenty of experience with the planning and coordination required to make your move as seamless as possible.
Contact the Rocky Mountain Home Team to discuss your Eagle County home’s current value or learn how we might be able to help you take advantage of today’s market conditions.
If it’s a seller’s market, should buyers wait for prices to come down?
If you’re seriously thinking about buying a Vail Valley home, waiting could cost you.
First, we’ve said it before and we’ll say it again – trying to predict what the market will do next is never a great idea. The scarcity of buildable land plus our high-demand geographic location means that, in general, the Vail Valley will tend toward “seller’s market” under normal economic conditions. There really is no guarantee that prices will fall significantly any time soon.
Second, the most likely source of any price reduction given the current market would be rising interest rates as mentioned above. In that scenario, a higher interest rate means you pay more for the same house despite the lower sticker price.
If you’re hoping to buy a home in today’s competitive market, the Rocky Mountain Home Team has the experience and expertise you’ll need to get the edge. Contact us today to get started!