Here’s what’s happening in local housing markets across the country
Local Markets spotlight 5 different areas across the country, showing what is uniquely going on in these housing markets. Local real estate agents, loan officers and appraisers share the characteristics that currently define their housing markets.
Now is probably not the time to buy your dream home in Aspen. According to a report produced by Douglas elliman and real estate appraisal company Miller Samuel, single-family home listings fell 58% year-over-year in July 2021 to a paltry 20 in the famous ski resort. Buyers of single-family homes who signed a contract, meanwhile, slalomed to 12 overall in July from 46 a year earlier, according to the report. Of those 12 homes purchased, 10 cost at least $ 5 million. The slightly more affordable Aspen option are the condos. Thirty-three condominium contracts were signed in July and 20 were in the range of $ 2-4 million. “New listings in both types of properties have fallen sharply compared to the same time last year,” said study author Jonathan Miller, “keeping upward pressure on prices.”