ResalesColorado Ski Towns Report Powder-Ready Housing Sales
Colorado ski resort towns have had housing sales lately like a winter without snow, but the powder is improving, according to local Realtors.
Aspen
"When you fly into Aspen you see the town nestled in the heart of tall mountains - the Elk Mountain Range," says Realtor Wendy Lucas. "And those mountains and the skiing they offer are what bring most of the travelers to Aspen. But, summer is a big draw too, and locals often muse over which seasons are truly the best in this small but sophisticated town. Aspen has a population of around 6,000 and boasts world-class cultural events, fabulous skiing, unsurpassed restaurants and shops and the best weather any where. You"ll love being an Aspenite!"
Lucas explains, "The first half year statistics for 2003 show an increasingly stronger Aspen market in both the residential and homesite sectors. Sold volume in single family homes topped $116,000,000 during this time period. Sold Volume in condos and townhomes topped $76,000,000. Aspen is an exciting market, and those who enter it are happy with their investment and/or lifestyle."
Copper Mountain
"The Copper Mountain market has improved slightly, and we are seeing more buyers asking about it again," says Realtor Joanne Hanson. "We had a great snow year, although the March blizzard hurt more than it helped as it closed I-70 and the airport for several days and people were not able to get here.
She suggests, "We are having a very good summer, although it hasn"t really overflowed to Copper yet as far as real estate sales go. We should get our usual burst of people in the late summer and fall as they realize ski season is coming. Copper has some great buys as many properties are available for close to what people paid for them a few years ago, or less. With interest rates at 45 year lows, it is a good time to buy!"
Keystone
"Our Summit County market is in the middle of a very strong rebound after languishing for a year and a half to two years," says Hanson. "Keystone was especially hard hit after building many units in a short amount of time. Last year they had about 30 percent of those new units on the market, but this year it is down to about 20 percent as people have seen good values and snapped them up. Although there are a large number of properties on the market, there are many people looking and buying. The only thing keeping prices from escalating as they did a few years ago is the large inventory we have on hand. Once that is absorbed, we could be back in the situation we had a few years ago, with multiple offers on properties and 10 percent per year appreciation. I anticipate, given the inventory on hand, that it could take a year or two to reach that point. Now is a great time to buy as interest rates won"t stay this low forever and there are properties still available for $20,000 to $100,000 less than people paid for them. There are fewer of those type of opportunities available now than there were early in the spring, but there are still some out there waiting to be found!"
Click here to view current Market Conditions in your location.