Cordillera Real Estate Changes 2022
Hello Cordillera community. It is the 3rd of July, 2022. This summer is in full swing. I'm excited to see all of the amazing improvements that have been going on in the Cordillera community.
The new Trailhead facility pool is going up the, the Summit Athletic Club just opened and it is gorgeous. The views out the windows are just absolutely breathtaking. There is also a new pond up in the Beardon Meadows subdivision, and that is gorgeous as well. They're redoing the whole gate at the ranch, and that's going to be gorgeous when that is all done.
I've been getting asked the question, how is the national housing market news affecting our local real estate market? Now is a very interesting time to be exploring this topic, right? And. . I want to start by exploring the topic to first tell you that I've been doing a lot of research on the leading indicators and the lagging indicators.
The leading indicators are things that occur over time that ultimately create a change in the real estate market. Things like interest rate, things like inflation, the stock market and it's instabilities and fragility, and the uncertainties that the stock market is experiencing.
But moreover, I've also looked into the tools that we as professional realtors can use to gauge the market conditions and the market strength. For instance, Zillow leads is something that you can purchase as a realtor, and recently they have really gone on the decline and an example of this is I have a friend in California and she has been tracking her Zillow leads for April, May, and June.
In April she had 72. In May she had 17, and in June she had two. Now that right there is a leading indicator. I also use a tool called Showing Time which is attached to the MLS across the United States, and it tracks the showings that occur throughout the United States of America. We have seen significant declines over the past 60 days.
This is another true leading indicator of what's happening in the real estate market. Now there's also lagging indicators. Lagging indicators is the real estate market at its present state. These include your active listings and recently closed sales transactions. These are even the homes that have done price reductions, which is something very smart to track as a realtor.
We can talk about that when pricing homes but also the homes that are under contract in escrow or that are pending depending on how you want to talk about it. These are the ways that the common realtor, the consumer, whether they're a buyer or seller or the appraiser is coming to value or a price.
I've been looking at these two indicators very closely. The National Home Reports are not going to report declines in our real estate transactions until after Labor Day, so knowing this type of information ahead of time can help you as a seller or a buyer stay ahead of the game and ahead of the market at this crucial time. Pricing is going to be crucial in having successful transactions, I think moving forward. We’re still in a great real estate market right now, and the selling season is in full swing. It isn't as robust as it was possibly last year when everything was just flying off the shelf.
We have very little inventory. We're seeing more inventory now and inventory that is sitting around a bit longer. I don't have a crystal ball to see what's in the future, but I do pride myself on using all of my resources to best serve my clients. Cordillera is my very most favorite community in the Vail Valley, and I am so pleased to see the significant improvements to the values in Cordillera that we've seen over the past 18 months.