79136 Resource 78724 78558 78558 1104537460483 1106267325232 Controlled Keystone Real Estate Market Update

Why did Keystone take a dive? And where is it headed now?

Keystone real estate was negatively affected by the dot.com bust. While the rest of Summit County real estate fared well, appreciating 3-6% per year during the down times, properties close in at the resorts suffered. That particularly included Keystone, where Intrawest favored selling properties at <a href="http://www.snowhome.com/index.php?s=articles&item=1">&quot;launches&quot;,</a> where for much of the 90s, properties were over-developed and aggressively priced. However, the economic downturn brought reality to this over-inflated market. For nearly two years, you could purchase condos, for example, for about 15% less than their purchase price 3-5 years earlier. However, 2003 featured very strong sales, and a significant amount of the inventory was sold. 2004 saw a slowing in sales, but properties are appreciating again, although at much more sane rates than they did in the 90s. <br />&nbsp;<br />Construction is still relatively stagnant except for some single family homes, but until inventory is used up, that is a good thing. However, two more housing projects are in the approval process, and are expected to break ground in 2005. It's really a good time to invest in this resort. 9 application/xml false Keystone real estate Summit County real estate When condos and other real estate are sold at a launch, the only winner may be the developer. http://www.snowhome.com/index.php?s=articles&item=1 Mozilla/4.0 (compatible; MSIE 6.0; Windows NT 5.1) 66.198.200.154 66.198.200.154 kdeshaies false true false false true 205866 false false true false false false true 78724 blog blogsite/SnowHome/web