Understanding the market and local economy is a critical piece to real estate success for both buyers and sellers. LIV Sotheby’s International Realty is proud to provide various reports as detailed resources for consumers to make informed decisions about their financial future.
The 2020 Economic Update provides a focus on confidence and capital, expanding on critical components for continued economic growth, written by Steven Kirby, Executive Vice President, Financial Officer for LIV Sotheby’s International Realty.
LIV Sotheby’s International Realty provides Micro Market Reports (MMRs) analyzing Mid-Year (January through June) 2020 real estate performance in many of Colorado’s most popular markets, including Denver Metro, Boulder County, the Foothills, Summit County, Telluride, Crested Butte, and the Vail Valley. All MMRs compare activity for single-family and attached dwellings within in the residential areas the brokerage serves.
So far, 2020 has presented the real estate market with many ups and downs. Due to restrictions put in place for the health and safety of the public, the housing market slowed down significantly in the spring. However, consumers’ desire for Colorado homes never ceased and the pent-up demand resulted in a surge of buying activity throughout the summer and well into the fall. Now, thanks to the state’s array of naturally socially distant activities such as hiking, fishing, biking, and more, it has become a top destination to buy and sell houses. In analyzing luxury real estate performance through Q3, it is clear that the Colorado luxury home market has made a full recovery.
The Resort Report is a helpful resource for consumers interested in the high-demand resort markets of Colorado and beyond. The Resort Report analyzes data from 12 prominent resort areas throughout the western half of the United States, looking at the areas’ performance and what makes each one unique.