The real estate market in the Winter Park area, and in Grand County, Colorado in general, continues to be very strong.  Interest rates remain very low, buyer confidence in all of Colorado remains very high and that makes for a very busy real estate market!  Our biggest issue at the moment is the lack of inventory for condominiums, townhomes and single family homes.

Here is a snapshot of what is happening in the Grand County real estate market, with an emphasis on the Winter Park/Fraser (Fraser Valley) area.

In the residential market, which includes single family, townhomes and duplexes, Grand County has experienced a very good year.  Using data from the Grand County Board of Realtors, the first two quarters of 2016 over 2015 show an increase in new listings by 12%, an increase in the number of properties sold by 5% and an increase in average sales price by 7%.  The average sales price of residential property in Grand County this year is $390,281.  In just the Winter Park area alone, new listings increased by 27%, the number of sales increased by 182% and the average sales price increased by 4%.  The average sales price of residential property in the Winter Park area is $488,435.

Condominiums saw a similar trend.  In Grand County, the number of new listings dropped by 11%, the number of sales increased by 29% and the average sales price increased by 22%, to $224, 380.  In the Winter Park area, the number of new listings dropped by 20%, the number of sales increased by 29% and the average sales price increased by 11%, to $245,596.

Vacant land sales are healthy, even though this portion of the market is not as brisk as the others.  In Grand County, the number of new listings dropped by 17%, the number of sales increased by 6% and the average sales price increased by 32% to $101,562.  In the Winter Park area, the number of new listings dropped by 21%, the number of sales dropped by 6% and the average sales price increased by 35% to $145,780.

So all in all, our market is doing quite well and we truly haven’t even hit our stride yet, as the busiest time of the year for real estate tends to be from July 4th through Thanksgiving.  Our report on the third quarter of 2016 should be very interesting!