Eagle County Real Estate Market Report: Promising signs for a 2024 uptick

It’s understandable that the real estate market, both locally and nationally, has faced challenges over the past year. Local real estate expertise is indeed crucial during times of market fluctuations and this expertise has allowed Eagle County and the Vail Valley to outperform other markets in many ways, including continued high buyer demand and price strength.

Although numbers softened in 2023 compared to 2022 (and previous years), with unit sales down 21%, and dollar volume declining by 12%, prices continue to rise in many neighborhoods due to the strong buyer demand and lower-than-average inventory. The good news is that available homes for sale in Eagle County are more than double what they were at the start of 2023. 

With interest rates beginning to shift down, we expect more properties to become available as we enter the traditional spring and summer buying and selling seasons. That timing, along with declining interest rates, is anticipated to stimulate more listings and active buyers who may feel more comfortable moving from their current property (and interest rate) into a new home that better suits their current lifestyle.  

In the event you are considering a move, the following is inside knowledge and tips on how best to leverage opportunities for you in the luxury and down valley markets.

Luxury and resort market

According to Mark Weinreich, broker associate with Berkshire Hathaway HomeServices Colorado Properties, the luxury and resort market, including Vail, Beaver Creek, Arrowhead, and Cordillera, is still experiencing mostly cash deals.

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“Some buyers are getting loans if it makes more sense,” Weinreich said. “Borrowing in the 6 percent range is still a good rate if it means they can keep their cash working.”

Weinreich’s advice for buyers is that they be ready to act.

“Well-maintained and updated properties can still disappear in a day,” he said. “Yes,…