Demand High, Inventory Low
Land Title Guarantee Company recently released its final 2013 numbers for the county’s real estate market. The delay is due to the time needed for all the deals put under contract in the calendar year to make it to the closing table.
In many ways, the 2013 numbers mirror those from 2012 — there were a few more transactions made, a bit less sales volume. That’s a welcome change from the swings seen in the years since the national economic slump first hit the High Country.
Flaum, the managing broker of Slifer Smith & Frampton, the valley’s biggest real estate company, believes the steadiness in the market means we could be poised for some positive changes.
“The numbers for 2013 don’t reflect the strength in demand,” Flaum said, adding that there’s more demand for property than homes available in some areas. For instance, a family looking for a home in a specific price range in Singletree may find just a couple of available properties.
That demand is starting, and is just starting to be reflected in price, Flaum said. That, in turn, may prompt potential sellers who have been waiting out the slump to finally bring their property to market. It may also spur a bit of construction.
Courtesy of Vail.com