The past few years have been a real estate roller coaster. We hoped 2023 would bring the positive movement in the market we were looking for following the COVID-19 pandemic.

Most economists forecast lower interest rates on mortgages. But when we saw the opposite as rates climbed, people were hesitant to buy and sell.

The new year has us looking ahead with the promise of lower interest rates. We’re already seeing a slight drop. If rates drop too much, though, the competition for limited inventory likely will drive prices higher. Buyers who were uncertain last year realize moves must be made now. Those who can afford a home now have more options than any time in the last year. With a strategic approach, buyers can achieve their homeownership goals no matter the interest rate.

Even in the midst of a “wait and see” year, agents with Bray & Co. Real Estate represented more than 600 buyers and sellers in 2023. From first-time home buyers to empty nesters to commercial property owners and tenants, agents helped clients find properties.

While the commercial market in Western Colorado slowed in 2023 compared to previous years, our commercial department assisted owners, investors, tenants and others across the retail, industrial, office and agricultural sectors. More than 125 leases — new or renewed — were signed. More than 65 sales occurred.

Our property management department has prepared for the onslaught of units coming in 2024, including a total of 13 large, multifamily developments in Mesa County as well as Delta, Garfield and Montrose counties. These units will help meet increasing demand for quality living spaces and reflect a proactive approach to community development. Bray Property Management oversees the management of more than 575 residential properties in Mesa County and 106 different commercial properties, many of which contain multiple tenants.

The REVIVE program by our maintenance and construction team has changed property enhancement. By updating and refreshing properties, the program has enabled homeowners to expedite sales and maximize property value. The team’s commitment to excellence extends to routine maintenance, ensuring homeowners can manage property upkeep.

The Bray Cares Foundation gave a total of $35,000 in grants to six local nonprofit organizations as part of an effort to foster community well-being. The foundation has contributed more than $320,000 in its first four years. Bray Cares has a 100 percent staff and agents contribution rate. Bray & Co. pays administrative costs so donations meet needs.

The past year has taught us that while a positive outlook is important, we must remain prepared for anything. We’re thankful for lessons learned and our team’s dedication to client satisfaction. We look forward to 2024 with hope for a healthy real estate market. We’re grateful for continued support and proud to give back to the community we love so much.