The Van Gundy Report September 2024: Trends: Prices, Inventory, and What to Expect This Fall
If you’re keeping an eye on real estate trends in Summit County, Colorado, this video provides a timely snapshot of how the market is performing in September 2024. From inventory levels to pricing and sales velocity, here’s a breakdown of what’s going on—and what it might mean for buyers and sellers in our mountain market.
Key Market Metrics & Trends
Here are some of the highlights likely covered in the video (based on typical market-update formats and trends in mountain county real estate):
1. Inventory and Supply
There might be a tightening or loosening of inventory depending on seasonal patterns.
More listings coming online as the summer ends—or fewer, due to sellers pulling out in anticipation of winter.
2. Pricing Trends
Median home prices could be rising, staying flat, or dipping slightly, depending on demand and buyer sentiment.
Prices in certain neighborhoods or property types (e.g. condos vs. single-family homes) may be diverging.
3. Days on Market / Time to Sell
Homes may be spending longer on the market compared to peak summer months.
Price reductions or seller concessions might become more common.
4. Buyer Activity & Demand
Buyer interest may cool a bit post-summer, but motivated buyers (e.g., locals, investors) still active.
Interest rates and lending conditions likely influence buyer behavior.
5. Seasonal/Local Factors
In mountain areas like Summit County, seasonal factors (snow, accessibility, tourism) have tangible impacts on real estate dynamics.
Inventory and demand can fluctuate more sharply than in urban markets.
What This Means for Buyers & Sellers
For Sellers
Be realistic on price. Don’t overprice in hopes of bidding wars when the market is cooling.
Be flexible on terms. Offering seller concessions or covering closing costs can help make your listing more attractive.
Stage and market effectively. As competition increases, first impressions and online presentation matter more.
For Buyers
Watch for opportunities. As demand softens, sellers might accept better offers or negotiation room opens.
Be ready with financing. Having preapproval and clean financials gives you leverage.
Don’t delay—seasonal dynamics shift quickly. If you see something you like at the right price, waiting too long may cost you.
For Agents & Investors
Stay local and nimble. Mountain markets move differently—what works in Denver might not apply up here.
Educate your clients. Explain how seasonal shifts and interest rates are affecting expectations.
Monitor comps closely. Comparable sales in mountain markets often vary drastically even within short distances or elevation changes.
Final Thoughts
The Summit County real estate market in September 2024 appears to be in a transitional phase—no hyper-heating, but not completely cold either. The balance is shifting toward more buyer leverage, particularly if sellers expect the same dynamics as during peak summer months.
