BANDONI's Real Estate Reality | 2022 Year's End

Since the last update two months ago, market conditions have changed only subtly. Time on market is slowly increasing. Aggressive list prices are inching downward. Properties that are in good condition and accurately priced are selling in one to six weeks. Historically speaking, that is still very fast. As a seller, it means you will succeed with strategic, fair market value pricing. As a buyer, it means you have some time to hunt, learn, make a pragmatic decision, and you will (should) be able to negotiate.      Generally speaking, since the peak of the market in Q1, properties values lost much of their gain yet they have landed at a year-over-year increase; roughly 5-10% up. <> To reiterate my mantra, this valley has a plethora of micro markets. For a value analysis of the property your own, please ask me.

VAIL VALLEY # OF UNITS SOLD | YEAR-OVER-YEAR

This 33% decrease in YOY volume is the result of the perpetually low volume of properties for sale. The average and median sold values illustrate the approximate YOY gain. As of today, there are just 320 properties for sale. Historically (pre-pandemic), that number is around 800. Click on chart for larger view and footnotes

MAPPING THE ROAD AHEAD I believe we are going to see a slight surge in buying activity this winter. When we turn the corner into the new year and if our country continues to not see the sky falling, the cash buyers will begin buying again in greater numbers. That market activity will be the catalyst for owners deciding to sell this spring. These things will result in a summer with increasing inventory and consumption. By mid-summer, I think our inventory will have grown by twenty-five percent, which is enough to allow more buyers to get into town but not enough to soften market values because the absorption rate will keep pace. (Yes. I am smart enough to see this is feasible and dumb enough to put it in writing).

INFOTAINMENT CENTER

FOR SALE: Best Of (sorted by area) IT FINALLY SOLD: Casteel Ranch in Lake Creek COMMERCIAL FOR SALE:A few intriguing properties My Best Of selections are not based upon the list price. Many properties are still for sale because they are not accurately priced.

A PERSONAL INQUIRY Do you own a condo that is available for rent for the three nights of March 9-11 (THU-SAT) ??? SPACE: 1 or 2 bedrooms. LOCATION: Avon, Beaver Creek Resort, or Vail/Lionshead Villages. This quest is for my childhood buddy and his wife. In fact, you can blame this guy for inspiring me to move to Avon thirty years ago. Please type or give me a call if you have a prospective rental opportunity!

MY RENOVATED WEBSITE provides a new property search function with the Vail MLS system. Please check it out and bookmark that page if you like to surf the inventory on a regular basis. Bear in mind, our MLS system’s user interface sucks. So, like I have always proposed, if you want focused info, please let me know and I will send it to you in a more digestible manner. AND IF YOU HAVE EXTRA SPARE TIME please flip through my site and let me know if you think something is missing or if it, too, sucks. Any feedback gets you a drink on me (gift card) at your favorite restaurant or cafe. Click on image. [ScottBandoni.com]

NEW IN MOAB, UTAH I have been visiting Moab continuously for nearly thirty years. If you know Moab and love it a fraction as much as I do, you may find this rare new development interesting; 2 bedroom condos start at $1.4MM. Click on image. [Lionsbackresort.com]

TRADING FOOD PLACES The Craftsman has re-located and is now open in the old Gore Range Brewery space in Edwards Village <> In January, Benderz Burgers will open in the former Larkburger space <> Down next to Marko’s Pizza, Ed’z rotisserie will open soon in the space formerly occupied by East, the Chinese food restaurant <> Village Bagels is opening ‘soon’ in Gypsum near airport.

AN END-OF-YEAR DONATION? As many of you know, I am a passionate contributor to Students Shoulder To Shoulder. This local, non-profit organization always appreciates the economic support. Your involvement is even more appreciated. Please learn more. Click image [StudentsShoulderToShoulder.com]

Please type or give me a call anytime with your questions or thoughts. I hope you have wonderful Holiday Season!

ScottBANDONI  Impeccable Representation for 28 Years cell 970.390.9400 | bandoni@vail.net | www.ScottBandoni.com  LIV Sotheby's International Realty | Vail + Boulder