The Group Real Estate Insider - August 2022

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How's the Market?

In case you missed it, here is the big news out of our office this month: On August
1, 2022, Colorado Group Realty was acquired by The Group, Inc. Real Estate, out of
Fort Collins. When Colorado Group Realty formed in 1995, the founding agents of
Colorado Group Realty modeled themselves after The Group, which had been in
practice since 1976. Both The Group and Colorado Group Realty have maintained
a close relationship since that time.

Due to the companies’ longstanding relationship with one another, their high
standards of ethics, and high levels of productivity, becoming a part of The Group
made a lot of sense. “We’re thrilled to become part of The Group,” said Shelley
Stanford, CGR’s Employing Broker. “With the vast amount of knowledge, amazing
systems, and strong support tools and people, we will have the fortune to pass all
that along to our clients. The Group’s culture is amazing—caring and supportive—
very much like the culture Colorado Group has thrived on.”

Colorado Group Realty has prided itself on providing legendary customer service
in Steamboat Springs for almost 40 years. With this acquisition, the team at 509
Lincoln (formerly-known-as Colorado Group Realty) is poised to make an even
larger impact, and excited to provide even better service to our clients (if that’s
even possible!).

In addition to the excitement surrounding corporate mergers, the Routt County
real estate scene has also been quite active. The residential offerings County-wide
sit at 192, up about 8.5% from last month. If you’ve been paying attention, though,
this increase in the supply has had an effect on price: the median closed price of
a home is down nearly 20% from two months ago. But sellers should not panic
yet; the median close price of a home is up nearly 100% since 2019.

The median days in the MLS remain low at six days, meaning there are still
decisive buyers out there. There are also quite a few closings, with about 71
closings last month (about average since January 2021). We are inching towards
a more balanced market. Currently, we’re at 2.7 months’ of inventory (a balanced
market is 6 months).

Whether you’re considering buying or selling—one of our experienced agents is
here to help you with any and all of your questions. Give us a call to find out how.