Real Estate

January 11, 2022 The 2021 MLS Market Report for the High Country Association of Realtors® saw agents finish out the year with records in sales volume and some comparable numbers to the historical totals we saw in 2020. As for December of 2021, the High Country MLS recorded 249 homes sold for $116 million. There were 289 homes which sold for $124 million in December of 2020. The median sold price increased by 9 percent this year to $355,200 compared to $325,000 last December. Professionals in the High Country MLS sold a total of 3,222 residential listings worth $1.43 billion by the year’s end. Home sales volume totaled $1.18 billion the previous year. The High Country MLS records for 2020 reported 3,269 total residential properties sold. The number of High Country homes sold was down a mere 1.4 percent this year from 2020, however, the sales value was up 20 percent, a pattern noted across the US according to the Federal Housing Finance Agency. The agency also stated that the price increase accounted for the largest annual home price increase in the history of the agency’s House Price Index. 

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December 20, 2021. As is usually the case this time of year, High Country real estate transactions declined overall for the month of November. High Country MLS reported less homes sold, less inventory, and less sales volume than recorded the previous month, but this comes as no surprise to local Realtors®. The National Association of Realtors® did release a survey in October detailing that Realtors® across the country currently express concerns regarding inventory, supply, demand, high prices, appraisals and how those issues affect their clients. High Country Realtors® are continuing to close properties and work diligently for their clients. The High Country MLS recorded 428 residential properties active at the first of November. A decrease in listings of 17.2% when compared to October which saw 517 active listings.

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October 12, 2021. Realtors® in the High Country are certainly working hard for both buyers and sellers in the area, however the low levels of housing inventory compared to the high number of interested Buyers, is proving to be a tricky juggling act that Realtors® are contending with currently. The High Country MLS recorded 504 residential properties and 2,297 land listings at the first of September. October began with a few more homes on the market, showing 517 listed as of October 7th. MLS records for this year show the housing supply levels fluctuating from a low of 350, recorded in April, to a high of 576 recorded in August, although most months we see around 500 properties available. Last September we did see more homes in the MLS, with 730 homes listed. High Country MLS President, Shy Fecteau, states that “while inventory levels may be lower compared to this time last year, the good news for buyers is that there are plenty of new listings coming on the market every week. And the good news for sellers, or those considering listing their property, is that there are multitudes of buyers still looking for mountain homes & land”. 

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August 11, 2021. Low real estate inventory is directly affecting the high sale prices and low total sales we are currently experiencing locally, as well as nationally. Residential and land inventory in the High Country continues its slow climb after hitting record lows in April. However, when compared to inventory levels and recorded sales this time last year, we see a stark comparison… with the total number of homes sold down by 33%. July of 2020 began the Real Estate surge for the High Country. Inventory was good, sales were growing at a steep pace, and prices were beginning to rise. Flash forward to our current real estate market. The real estate boom has left us, along with the rest of the nation, seeing low inventory levels. With a 1% increase in inventory over last month, August began with 576 residential listings in our four-county region. This time last year, our MLS recorded an inventory of over 860 properties. That shows a decrease in inventory of over 48% year-over-year. With inventory levels lower than previous years, we see the relationship between our inventory and recorded total sales.

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July 14, 2021. Realtors are welcoming the summer selling season and the High Country is still bustling with buyers. Unit sales total 1,500 homes sold this year, with June accounting for 287 of those sales. Last month most homes sold in less than 60 days of the list date. The High Country MLS reports the median sold date within 44 days of being on the market. It is evident that buyers are looking for homes quickly, which increases the demand for inventory. With a 16% increase in inventory over last month, June residential listings were embraced by home buyers. The beginning of July shows 569 active residential listings in the High Country compared to early June’s 488 listings. The inventory increase is good news, however, when compared to June of 2020 our MLS inventory shows a decrease of nearly 50 %. This inventory decrease is the same across the country, The National Association of Realtors® released research in early June, which was collected from the Rosen Consulting Group, estimating that between 5.5 million and 6.8 million new construction houses are needed to meet the demand across the nation.

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June 21, 2021. Housing inventory increased for the second consecutive month in May as total unit sales in the four-county area broke 1,000, a record pace according to the High Country Association of REALTORS© monthly sales report. A hectic spring buying season was evidenced by the sale of 1,213 homes worth $515.33 million so far this year, a 35 percent increase in unit sales compared to the first five months of 2019. (The onset of the COVID-19 pandemic impacted sales last year, though REALTORS© still sold 815 homes for $250.73 million). Another impressive metric is how fast homes are selling. In May alone, homes were on the market a median of just 49 days, the fastest turnaround recorded for a month within the High Country Multiple Listing Service (MLS).

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