Expert agents of ski towns real estate and nearby areas in Colorado and Utah, members of the exclusive Haute Residence network, weigh in on their areas' markets and how they're shaping up for 2021. Read their insights below and check out some of their listed and sold homes.
Photo Credit: HBK PHotography
"Unlike other downturns, this pandemic is encouraging people to move. After being stuck inside for months, people are more acutely aware of the shortcomings of their homes than ever previously. Across every price band, people want spaciousness. This new pent-up demand is leading to higher levels of buying and selling than we've ever seen before. With interest rates remaining historically low, we anticipate that buyer demand will continue to outpace inventory well into 2021." - Catherine Burgess, Boulder, CO.
Photo Credit: Courtesy of Summit Sotheby's International Realty
"I don't think that we will see another summer like we just experienced for sales. Park City set records each month from June through October. I do feel that we will still see a strong exodus from cities to mountain resorts but it will be at a somewhat slower pace from 2020. Historically low interest rates and low inventory should keep buyers coming." - Dennis Hanlon, Park City, UT.
Photo Credit: Mountain Rose Realty
"2020 was a banner year for real estate across the country, much to many people’s surprise. Will it continue? I think so. The pandemic made people reevaluate their lives. In quarantine, we were forced to take a close look at how we were living, where we were living and if that was how we had dreamed our lives would unfold. In short, it made people wake up and take action. Focus has turned to family, health and the home. With inventory levels down an average of 25% and sales volume up approximately 96%, I expect to see the luxury market continue to gain strength into and through much of 2021 as the migration of wealth continues out of the big cities and to more unique and exclusive areas like Telluride, Colorado. A happy side effect of the pandemic, it has forced us all to make lifestyle changes, most for the better, and to re-align our priorities to focus on what really matters!" - Anne-Britt Østlund, Telluride, CO.
Read more expectations for 2021 from members of Haute Residence, including the areas of the Caribbean, South Florida, the west coast of Florida, Southern California and Northern California, the New York tri-state area, the Pacific Northwest, Texas, Costa Rica, and Canada.