A glance at the market: Grand County real estate market update
Special to Sky-Hi News
We are excited to introduce you to The Dynamic Mountain Team of RE/MAX Resorts of Grand County real estate market updates. Suzi Maki and Lindsey Morrow are both very involved in the community and growth of Grand County and together have years of experience. Our motto is honesty and integrity, with a sense of humor.
The housing cycle continues on with slow and steady momentum in Grand County. In the month of October new listings were up 45.5 percent for single family homes and 7.7 percent for townhome/condo properties. There were 34 pending sales for single family homes and 32 for townhome/condo properties.
Locally, the median sales price was down 26.8 percent to $322,000 for single family homes but increased 1.4 percent to $233,000 for townhome/condo properties. Days on Market decreased 40.2 percent for single family homes and decreased 12.7 percent for condo properties.
Nationally, year to date, sales are 8.9 percent higher compared with the same period last year.
At the current pace of sales, it would take 4.9 months to exhaust available supply, a bit leaner than in September, when there were 5.2 months’ worth of supply on the market. The median price of a new home sold in October was $312,800, 3 percent higher than a year ago.
As we move into the winter season we will continue to see the market stay strong with different property developments continuing to be built throughout the county and more building permits being pulled for single family homes. It’s a great time to be buying and selling real estate in our mountain community.
Lindsey Morrow and Suzi Maki are broker associates with the Dynamic Mountain Team of RE/MAX Resorts of Grand County.
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