POWDER ALERT! Come on up!

Pictured: Arapaho Basin

With January under our belt..what do we see for Real Estate

for the near term: (** NEW Stats are further down)

We are not in a “housing bubble”. What we saw in the great recession is not what is happening now. We expect some year over year adjustments, but don’t envision a systemic drop in home values 2023/2022.

Same but different. The first and second quarter of 2023 will see challenges. Prices will likely remain flat or decline. Higher interest rates may cause a pumping of the brakes for Buyers and on the Seller side hesitancy to sell as a result of current high interest rate mortgages. Q3 and Q4 may see a substantial increase in activity.

Inflation appears to have seen its peak: The rate of personal consumption over the last 2 years is unsustainable given the combination of low personal saving rate and elevated ratio of debt to personal disposable income among consumers. We suspect the worst may be behind us.

What about Mortgage Rates: As we move into 2023 and economic data is rolled out - it may be a roller coaster ... With a mild recession, rates will continue to improve. Recessions are almost always good for lower interest rates and affordability. The Real Estate sector of the market is one of the most interest rate sensitive.

Increasing inventory? The big question…Demographics indicate the sector of our population moving into prime buying years will increase demand. Combined with Sellers’

hesitancy to sell their homes and home builders, building fewer homes for several years will likely keep inventory at reasonable levels. Welcome a more balanced market.

A Buyer’s market been defined in the past as 6 months of inventory. Currently, 2-3 months of inventory is a Buyer’s market. As the market moves close to that in 2023 we expect to see a more balanced market.

Reality check for Sellers: No more selling the home “as is” throwing a price up to see if it sticks. Those days are in the past. Sellers will want to “win the beauty contest” when their home is placed in the new balanced market. Pricing a home correctly, in the beginning, will increase the homes salability.

New Construction:

Permits for new construction are down and Builder Confidence is being tested. We may see more aggressive pricing among new home builders. And likely more incentives for Buyers.

There are more questions than answers..as data is released we may

have more answers. More layoffs? Job growth? Interest Rates in the

future? Stock market? What else?

If anyone has a working crystal ball—please share it!!

"Over my 30 years as a Realtor I continue to believe...that

You deserve a Realtor who is honest, knowledgeable, and strives to exceed you expectations!

I am hoping I can be that person for you! -Kerry

PS.: Please use a local Realtor who can be the "Fun & Fact finder" for you, your friends and family, we are glad to help and share our local expertise.

Come on up and see us... and if you owned a place you could be "home" if even for a few weeks or days at a time.

** NEW Statistics showing Median Sales Price TRENDS PRE-Covid through 2023 YTD

Summit County TREND: SF Median Sales Price Jan 2019 (pre-Covid) through 2023 YTD

(Click to enlarge)

Source: SARS

Summit County TREND: TH/ Condos Median Sales Price Jan 2019 (pre-Covid) through 2023 YTD

(Click to enlarge)

Source: SARS

For a full local MARKET update please click here

Buying REAL ESTATE in this market:

My goal is to provide you with all the information you want and need to make an informed decision whether you are selling or buying a home.

As a "local" and a Realtor for over 30 years, I understand this decision is one of the biggest you can make.

Please work with a local Realtor who can walk you though the market maze. As locals, we can guide you through the investment, second home or primary residence purchase process. We work with lenders, title companies, inspectors, and contractors who are familiar with mountain living.

Thank you... and it is my hope you will work with me and the partners at Colorado Craft Brokers. 

Q U E S T I O N S  you may have:

What do you need to know about our market..whether you are BUYING or


Please call Kerry at: 303.910.6633


Kerry direct: 303-910-6633

Please visit my website here

Kerry Gibson, Broker Associate

Colorado Craft Brokers

PO Box 2120

Dillon, CO 80435

Serving all of Summit County & Surrounding Communities

Please call Kerry if you have friends, family, or business associates who have an interest in Mountain Real Estate. We can help you or your referrals find the perfect mountain get-away. If you are Selling we will gladly provide you with a Market Analysis and if you would like to Purchase we will provide all the information you will need to make an informed decision. 
Please Call Us--even if you would just like info about the "fun stuff" in our Mountains.