Wishing you and those you love a blessed holiday season and wonderful new year ahead!
This is a time of year when we all look back and look forward. The years go by very quickly, and 2024 is no exception. So much has happened in the past year; we are all probably glad a New Year is upon us for one reason or another! 2024 has been well above average for the Schossow Group but has not set records. Our total sales volume is up, but the number of transactions remained static.
Our Real Estate Group is optimistic about the upcoming year as it relates to sales. We see nothing but optimism in every aspect of what the real estate market is ultimately dependent on. The economic markets look good and show indications of getting even better. Interest rates are at least moving in the right direction, the stock market appears to support continued growth, inventory of homes for sale has stabilized to some extent, and Colorado is still on the "preferred" list of places to live - even though the cost of living in and enjoying Colorado's benefits is costly! One of the biggest contributors to our optimism is that, no matter your political position, we are going to experience a significant change on January 20, 2025, and change creates optimism. Hope for the best. We are hoping for reduced interest rates, lower inflation, international conflict resolution, and elimination of other unknowns that haunted us during 2024!
Real estate pricing shows no signs of coming down. Demand still exceeds supply, and that never translates to price reductions. Real estate appreciation in Colorado is at 17%, which is quite high. On the consumer side, buyers have taken on a "new look" often more demanding and perceiving that "deals" are out there. That perception has led to lots of lookers, and consummating transactions is more difficult.
All these dynamics are not new to us; we need only to recognize them and work within the constraints that the market demands. It does however demand that, on the brokerage side, we need to pay very close attention to details and diligence during the sale, contract, and closing process. Some of our optimism is due to the fact that we are comfortable and experienced at doing so.
The Schossow Group wishes you Happy Holidays and a very Merry Christmas and Happy New Year! This is the time of year to be grateful looking back and optimistic looking forward. We thank our many clients and customers for your confidence, and we stand ready to assist you if you elect to buy or sell in 2025.
Enjoy your holiday time with family and friends...
- Dale