Birdseye View | Market Snapshot | April 2020
Everybody is probably ready for some hugs and high fives. This distancing is not natural, and it feels like we can see some light towards a return to more traditional interactions and happenings. Our sympathies go out to those impacted by the coronavirus. Our region was hit early and hard, and we are now seeing the “flattening of the curve” with fewer positive cases being reported. Now, there is lots of conversation and planning for phasing back to life as we once knew it.
The real estate market was steady and normal in the first quarter. Larger, more expensive properties are selling very well. Listing inventory is still fairly light. Prices are consistent with previous periods. Condo sales on the mountain more than doubled to 23 over the same period last year. Land sales slid a bit as is customary during the winter months, with added inventory.
We anticipate that our summer season could be as robust as ever with pent up demand from visitors who had to postpone trips and a renewed energy from people wanting a new adventure away from home. Further, interest rates hovering around record lows doesn’t hurt at all.
Bluebird has been ‘business as usual’ for this time of year, during our off season. Yes, we did miss the spring break rush, but most of our communications and transactions are handled virtually through the internet until the summer season begins.
Bluebird enjoyed a record first quarter in sales, doubling our nearest competitor and selling almost a third of the entire market. We represented the buyer and seller in the most expensive sale in the valley, a $5 million transaction, and we represented buyers and sellers in two closings that sold over $3 million.
Most importantly, we are excited to welcome back our visitors and returning homeowners! We project a surge in seasonal selling with a renewed enthusiasm for destinations like Crested Butte.
Spring is all about new growth, warmer weather and renewal. We published a video recently with the message that “together, we are coming back to life,” and we are looking forward to being together and celebrating each other and all for which we are grateful.