May flowers are popping up everywhere. The grass is the greenest I’ve seen in years. We continue to get one or two good showers per week. The mountains are still full of snow. Our moisture content is way up, and currently we are at 178% of normal for this time of year. The rivers are running full and fast – ideal for rafters and kayakers. Hopefully we will fill up some of our reservoirs like Navajo Lake this year. The moisture is our life blood, and we feel very healthy this year.
Now for the latest real estate news. Overall sales are down 12%, which is a slight improvement over last month. Home sales are exactly the same as 2018. Condo sales are down 30% due to lack of inventory. Land sales are down 16%, primarily due to fewer desirable and affordable lots available under a half acre. Building permits are down with 22 new construction permits this year compared to 41 last year at this time. I suspect this is primarily due to the big snow year and the wet spring.
My business has been very strong. I’ve been fortunate in that I have a lot of new inventory coming on the market. The sweet spot is homes between $275,000 and $350,000. All my listings in this price range are under contract, with several receiving multiple offers. I can sell as many in this price range as I can get my hands on. We will see most of the new inventory for the year come on the market in the next six weeks. The affordable homes and condos will go away quickly. On the other end of the spectrum, I’m very excited about a new listing that I will be putting on the market this week priced at $1,200,000. This is an executive home, and is priced at about 40 cents on the dollar.
GRI, CRS
2011 & 2014 Realtor of the Year
Phone (970) 731-4065
Fax (970) 731-4068
Cell (970) 946-3856
Email: [email protected]
