BREAK OUT THE BUBBLY

Most brokerages celebrate when a single sale closes. At Mirr Ranch Group, it was more like a case of Champagne. That’s because the firm recently had a client snap up nine properties in three states for $37.5 million. The common thread? Top-tier fly-fishing.

This level of expertise is one of the many reasons why I always look forward to chatting with Ken Mirr, the firm’s managing broker. Since its founding in 2005, his firm has witnessed countless market swings, and he senses a change in current conditions.

“After at least three years of low inventory and heightened demand in response to the pandemic, we’ve seen signs of a shifting market,” Ken told me. “Inventory levels are creeping up, albeit late in the season, and the added supply may reach equilibrium with demand in the next year. In addition to the added supply, we are seeing many more reduced listing prices on existing listings, which also support this forecast.”