In Summit County we enjoy countless amounts of outdoor recreation, gorgeous landscapes and seemingly endless amounts of ski terrain to explore. Living here is an amazing opportunity and owning a home is truly a dream. We are the people to help you make that dream come true. As the summer months gradually transition into fall, the real estate market in our beautiful mountain community continues to experience some trends that are common each year. September and October often represent a unique period for property buyers and sellers in Summit County as this tends to be our shoulder season. Below, we will explore the market dynamics during these autumn months and what potential buyers and sellers can expect.
A Seasonal Slowdown
As September arrives, Summit County often experiences a slowdown in the real estate market compared to the peak summer season. The tourist boom starts to wind down as families with children return to school, and the allure of summer activities like hiking and biking gives way to anticipation of the winter season. This seasonal shift results in fewer visitors and, consequently, a drop in demand for vacation rentals and second homes.
With the decreasing number of tourists, sellers may need to adjust their pricing strategies, becoming more competitive to attract local potential buyers. It’s essential for sellers to be realistic about their property’s value in the seasonal market.
The Shoulder Season Bump
While September signifies a slowdown, it is not always quiet on the real estate front as opposed to the tourism front. We often notice a small bump in activity during the autumn season. This increase in activity is largely due to several factors.
Firstly, buyers who have been visiting Summit County during the summer season may be enticed by the cooler fall weather and the spectacular foliage that blankets the mountainsides. This beauty can be a powerful motivator for anyone considering purchasing a property in the area. There is truly no time of year that isn’t gorgeous here in the high country! On the contrary, it’s a great appeal to buy a home you fell in love with, rent it for the winter and it will be here for you to enjoy in the summer once the snow is gone!
For those who do love the snow, the fall season sees an uptick in buyers who are actively planning for winter. Ski enthusiasts and snow lovers may view this time as the ideal window to secure a property before the snow blankets the mountains. Consequently, sellers who are prepared to showcase the winter appeal of their homes can attract these eager buyers.
Inventory Levels and Pricing
Inventory levels in Summit County during September and October tend to remain relatively stable compared to the peak summer months. However, the dynamics between supply and demand can influence pricing.
Buyers may find more negotiating power in September and October compared to the competitive summer season. With fewer potential buyers in the market, sellers may be more open to price negotiations, making it a favorable time for buyers to seek potential discounts.
For sellers, accurately pricing your properties is crucial. Given the seasonal shift, properties that are priced competitively and showcase their unique winter advantages stand a better chance of attracting buyers.
Investment Opportunities
The fall season in Summit County can present unique investment opportunities for those looking to enter the real estate market. Buyers with a keen eye for value may find hidden gems among properties that have been on the market for a while. Additionally, buyers looking to invest in vacation rentals should consider the potential for winter bookings, as we mentioned earlier the ski season brings a lot of weekend warriors and family vacationers to the region.
In conclusion, Summit County experiences distinct market trends during the months of September and October. While there is a slowdown from the peak summer season, a small bump in activity occurs as buyers are enticed by the scenic beauty of fall and prepare for the winter season. Sellers should adjust their pricing strategies accordingly and emphasize the winter appeal of their properties to attract potential buyers. Both buyers and sellers can find unique opportunities in this transitional period, making it an exciting time, and we here at The Skinner Team can help you with whatever side you may want to journey!
