Vail Valley Real Estate Market Report – November 2013

The Vail Board of Realtors has released its Vail Valley Real Estate market report for November 2013, providing a detailed look at the month’s numbers.

Vail Vally Real Estate - Falling Inventory

Inventory continues to decline.  New Listings were down 24.5 percent for single family/duplex homes and 21.0 percent for townhouse condo properties. Pending sales dipped 5.9 percent for townhouse-condo properties, but increased  10.3 percent for single family/duplex homes.

The Median Sales Price was up 31.3 percent to $722,000 for single family/duplex homes and 23.9 percent to $440,000 for townhouse-condo properties. Months Supply of Inventory decreased 18.3 percent for single family/duplex units and 22.7 percent for townhouse-condo units.

 

The Vail Board of Realtors advises market watchers to be aware of the “calendar effect” of the November – December holiday season. Historically, the holiday season is marked by a decline in activity as would-be house hunters pause to celebrate. While a slight “winter chill” in month-to-month activity is to be expected, however, year-to-year comparisons have remained strong. This trend is expected to continue.

The Vail Board of Realtors also notes that recent economic and jobs data have been more positive than many expected. Non-farm payrolls grew by 204,000 jobs in October and August payrolls were revised upward to a gain of 238,000 jobs – welcome news for many Americans that are also expected to support the recovering housing market. We can also expect the good news to encourage the new leadership at the Federal Reserve as March 2014 tapering approaches.

The Vail Board of Realtors Monthly Indicators report is compiled from the Vail MLS. To receive your free copy of the latest Vail Valley Real Estate Market Report via email, simply follow the link and fill out the short form provided.

The Vail Board of Realtors Monthly Indicators report is provided as part of the Rocky Mountain Home Team’s ongoing commitment to educating our clients. If you would like to know more about today’s ever-changing Vail Valley real estate market, contact the Rocky Mountain Home Team!

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