Vail Valley Luxury Homes Market Report: Feb 24, 2014

The Vail Board of Realtors has released its monthly report for January 2014.

The January 2014 market report indicates the Vail real estate market’s return to a more “moderate pace” as the rapid recovery of 2013 eases into a more sustainable level of growth. “That (more moderate growth)’s not a bad thing,” The report states in its introduction, “since the market is returning to a stable, healthy state.” The Board predicts increased seller activity, more new construction and fewer foreclosures in 2014, with inventory being a key metric to watch.

The report is a timely reminder that the Vail Valley real estate market has improved a great deal over a comparatively short span of time.  In January, the Median Sales Price jumped 75.8 percent over the previous year to $545,000 for single family and duplex homes and 103.8 percent to 805,000 for townhouse-condo properties.  Regular followers of the Rocky Mountain Home Team’s Vail Valley Real Estate News have been aware of these market gains for some time, but the collective effect of months of recovery have been impressive.

“Many who were hesitant to sell in recent years may find themselves in a completely different position,” The report’s introduction says. “Getting a fresh comparative market analysis might be a good idea.”  Whether or not you intend to sell your home in the near future, a comparative market analysis is an excellent way to assess its value and learn how properties in your neighborhood are performing on the market.

The release of the VBR report is also a good time to remember that differences between the local and national real estate markets can be vast.   Nationally, home values for January posted their smallest monthly increase since May 2012, due to an inventory surge. The numbers are very different in the Vail Valley:

 

Despite a surge in the nation-wide average for real estate inventory, inventory the Vail Valley remains low.

 

National averages may have some effect on our region, but a complete understanding of the local Vail Valley real estate market requires local experts. The Rocky Mountain Home Team, one of the Vail Valley’s top producing real estate teams, is here to provide that expertise.

Download a copy of the Vail Board of Realtors Monthly Report, courtesy of the Rocky Mountain Home Team, for more Vail Valley real estate news and numbers.

 

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