Beaver Creek Real Estate Update: Fall 2022
Beaver Creek Real Estate Market – Fall 2022
The Beaver Creek market is doing very well. The inventory could be a little bit better. We have 16 properties on the market right now. They range from 1.35 million to 15.5 million. Since we're in fall now, expect to see some more inventory pop up as we head towards the winter.
Amid inflation and the stock market and the interest rates that are going up, we're still seeing a whole bunch of homes that have closed so far this year in Beaver Creek. Just how many homes have closed in Beaver Creek since the beginning of the year? 67 homes have closed here in Beaver Creek since January 1st. We have another seven that are under contract right now. In my personal opinion, the Beaver Creek market is experiencing as well as the entire Vail Valley really is a leveling of the playing field. When I say leveling of the playing field, I mean all the influencers, the stock market, interest rates and inflation. Even the uncertainty that people are feeling are the reasons why sellers are more reasonable. It's the reason why buyers have more choices. It's the reason why there has been a decline in multiple offers and the crazy buying frenzy where buyers were paying way over list price.
We are seeing a much more easygoing and normal market where buyers get to negotiate on behalf of the buyers and not just go head first into a purchase contract and sellers are ready to negotiate the price of their home to have a successful transaction.
There is no crash coming. There hasn't brewed really any real values lost in real estate either. There's been some small price reductions where some people who are trying to catch that big giant, crazy tsunami wave and they missed it, they have now adjusted their price to a more reasonable level.I don’t feel the market is going to adjust anytime soon if you are one who is waiting for that scenario. I do feel the resort core is more resilient than some of the other cities that we are watching around the country.