If you’re trying to sell a house near a ski hill, these guys’ opinions matter

Have we been misjudging ski bums this whole time?

TRD New York TRD WEEKEND EDITION /
Oct.October 28, 2017 10:00 AM

(Pixabay)

It’s not just ski bums who are waiting with baited breath for the first snow fall, anyone selling a home close to a ski hill should be crossing their fingers, because — data shows — house prices in these areas are linked to quality snow conditions.

Brokers believe there’s a “direct relationship” between house prices near some of the best slopes in the country and last ski season’s good conditions, according to Bloomberg News.

According to Sierra Sotheby’s International Realty broker, Breck Overall, Q3 in 2017 was “the strongest quarter in our history.” Typically sales for ski-side real estate is September and October, but this year deals started closing in June.

Home sales in Aspen are up 25 percent compared to the same time last year, while Vail’s sales volume increased 13 percent in the first half of the year, according to a Douglas Elliman/Knight Frank report. (Both companies are consolidating their real estate portfolios in preparation for a showdown.)

“Without a doubt, the snow conditions greatly influence a buyer’s perception of the market,” said David McHugh, a LIV Sotheby’s International Broker in Colorado, to Bloomberg News. “If there aren’t good conditions, it’s like going to Disney World when it’s raining.”

[Bloomberg News] — E.K. Hudson


Related Articles

arrow_forward_ios
Data on third quarter CRE investments suggests a nationwide improvement, but Manhattan has been slow to recover (iStock)

NY falls behind Dallas, LA in CRE investment as deals surge nationwide

NY falls behind Dallas, LA in CRE investment as deals surge nationwide
Existing home sales rose again in September as listed inventory sunk to a new low. (iStock)

Existing homes sales remain high, but inventory is “historically low”

Existing homes sales remain high, but inventory is “historically low”
 Jennifer Lawrence and 17 Jane Street with Edward Minskoff (Getty; Sciame Construction)

Jennifer Lawrence buys at Ed Minskoff’s West Village condo

Jennifer Lawrence buys at Ed Minskoff’s West Village condo
Gov. Andrew Cuomo (Getty; iStock)

New York City lifts lockdown for some Covid hot spots

New York City lifts lockdown for some Covid hot spots
217 West 57th Street with Extell Developement's Gary Barnett and Corcoran's Pamela Liebman (Photos via Extell; Barnett via Anuja Shakya)

Extell brings on Corcoran Sunshine to help market Central Park Tower

Extell brings on Corcoran Sunshine to help market Central Park Tower
660 Madison Avenue (Photo via Jenel Real Estate)

Safra family finally begins 660 Madison’s office-to-resi conversion

Safra family finally begins 660 Madison’s office-to-resi conversion
The Northeast is driving gains in building permits and housing starts (iStock)

Northeast drives gains in building permits, housing starts

Northeast drives gains in building permits, housing starts
(Getty, iStock)

Mortgage applications to buy homes decline for fourth straight week

Mortgage applications to buy homes decline for fourth straight week
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...