If you’re considering buying or selling real estate, it’s always good to know how the property trends are looking out there. So, here’s our quick snapshot of the past few months, along with a look ahead.
The Central/Southwest regions of Colorado and New Mexico have seen some significant property movement over the past year. Fall is typically the busy season for closing deals, so the past year shows that the current market for spacious recreational and productive properties is strong compared to previous years. And the heightened interest seems to be holding consistent.
While inventories have gone down, the demand has more property owners considering selling at this time. So, as we head into the region’s pleasant fall and winter months, we expect to keep manageably busy.
The good news in particular regard to this region, is that sales have been coming in at good value points for both buyer and seller. While the region has steadily seen increasing values, it’s also historically been below market value of the other sought-after recreation and ranching states. These trends have been helping to make it a win for both sides of the buy/sell transaction.
The region has seen steady population growth, too. It’s no secret that it’s a haven for active retirees. Now more mountain bikers, hikers, campers, skiers, horseback riders, and ATV/ UTVers are finding year-round world-class recreation, without bumping elbows.
We’re also seeing that the region is being considered more than ever in today’s climate. It checks all the new norm boxes for recreation, amenities, culture, and year-round outdoor activities and venues within reach.
Now with increased demand and interest in spacious, recreational and productive land ownership, values going forward will likely continue to increase. People who have been watching the trends and seriously considering their options over these last couple years may now be prepared to make their move.
The holidays and early winter months historically slow down, yet, this winter may again have more people out looking than usual. Savvy buyers and sellers looking to close deals will take advantage of this slow-er season.
We know what a big decision it is to buy or sell a property, so don’t hesitate to reach out to us to talk through the nuances at any point. We’re always happy to share our expertise and connections, and help any way we can. (575) 420-5585