Real Estate Observations from Steamboat Springs, CO

This quick blurb is not documented as fact…merely observation and intuition on my part.

Interest rates have risen to 5% or above.
Real estate inventories are being replenished as sales continue. However, some would say that the choicest properties are being snapped up.
Properties above 1 million and below 500K are seeing the most activity.
REO and short sales continue to be mainstream in our market.
Prices may be stabilizing as evidenced by multiple offers on some properties. Properties that are overpriced, however, will continue to see degradation of those prices or lack of sales.
Properties across all classes and price ranges are closing within 10% of ask price. This includes REO’s and short sales, discounting what popular opinion would have one believe.