Vail Valley Luxury Market Update for April 8, 2014

Rocky Mountain Home Team leader Michael Routh was on Good Morning Vail last weekend, taking about Eagle County Real Estate with host Tracy Miller. Michael enjoyed his segment, but somehow the TV8 folks shuffled together our photos of 1398 Beard Creek and 111 Pilgrim Drive. Fear not – if you’d like to see all the photos of these outstanding properties in their proper order, you can always follow the links to our listing pages!

Land Title released its Market Indicators report for the month of February on Monday – and the numbers reveal a strong start for 2014. The total dollar volume for February was $121,963,299, bringing the year-to-date total to over $255 million through Feb. 28. This represents a 44% increase over the same period in 2013.  What’s more, the overall average sales price for February was the highest in some time at $1,325,688. By comparison, the Average sales price for year end 2013 was $801,000.

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Beaver Creek had a strong February with nine transactions totaling more than $15 million, 12.5% of the county’s total sales volume. Vail Village had the month’s highest sale at $11,200,000. Bank sales continued to slow with just two in February and five through the first two months of 2014.

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As we await the Vail Board of Realtors Monthly report for March, set to arrive any day now, we can expect to see the positive momentum continue through the last full month of the ski season. MLS data shows 97 homes sold, averaging $1,236,546.

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As for the Rocky Mountain Home Team, we have closed on five of our listed properties so far in 2014 and have almost twice that number under contract. We also brought two new properties to market in the last eight days – say hello to 600 Nottingham Road #3 and 100 W Beaver Creek 806!

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