February 2023 Interlaken Market Update

Interlaken Condos overlooking Lake Como with a fresh blanket of snow.

Thus far in 2023 no new sales have occurred. Currently two units are available for purchase, one unit for rent and one unit under contract. 

Since the pandemic the effect of seasonality on the real estate market reduced substantially. Seasonality in real estate refers to the annual fluctuations in the housing market, where certain times of the year are typically more active for buying and selling properties. This is often due to various factors such as weather, holidays, and the start and end of the school year. As a result, the demand for housing and the prices of homes can be influenced by the season, with some months being more favorable for certain transactions. 

It is my suspicion that we are at an I I suspect we are at an inflection point where seasonality is beginning to have an increased effect on the market. Interest rates have declined since November which priced more buyers back into the market - stirring the embers of a cooling market. However, we are not experiencing the same frenzy of activity for properties as before. 

Snow Globe Dining experience at at the Ridge Hotel.

Properties prices are increasing; will they sell?

The rise in property prices can signal a strong market, but it does not always translate into an increase in sales. There are several factors to consider when assessing a property's saleability, including the current economic climate, local housing supply and demand, and the property's location, condition, and appeal.

The price of a property is just one aspect that contributes to its marketability, and it is crucial to work with a knowledgeable real estate agent who can help determine a fair price based on the current market conditions. Ultimately, a property's ability to sell will depend on a combination of factors, and there is no guarantee that high prices with little market competition always lead to successful sales.