Given the current economy, it's no surprise that the Winter Park real estate market has been a little slower as of late. The current market statistics support that assertion with June sales of all properties in Grand County being 61% lower than they were last year. Still, we have reason to be optimistic about the future.
1. The Denver market is picking up. Most of the realtors in the Denver area that I've talked to have been busier this summer than they have been in the past 3 years. Since about 80% of our buyers come from the front range, an improving market down there bodes well for Winter Park and Grand County.
2. Capital Development continues to make the area more desirable. In fact, Intrawest is expecting to complete the new base village and open-air gondola by the end of this year. This is the key component that Winter Park has lacked as compared to other resorts in both Summit and Eagle County. With the completion of the base village, Winter Park will be on-par with Summit Resorts, but for a fraction of the cost!
3. Since 2002, the Winter Park real estate market has been going up. There has been a lot of capital development both at the ski resort, the town, and throughout the county. The recent slowdown has provided a pause in the rising prices of the area and raised inventory, allowing buyers the opportunity to get some great deals on properties. There are still many deals to be had out there, so it's a great time to buy!
Below is a graph illustrating the total sales by area for May/June over the last three years.
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