Vail Valley Real Estate Market Report – September 2013

Real Estate Inventory Decline

The Vail Board of Realtors released their Monthly Indicators for September this week, providing a detailed look at the Vail Valley Real Estate market for that month. Judging by a fourth consecutive quarter of increases in almost all market indicators, the outlook is also promising.

The report reveals a one-year loss of 23.5% in active Vail Valley Real Estate listings for all property types. The number of closed sales for all property types also dipped 19.7%. Median sales price, however, jumped 52.2% as overall supply declined. Rising prices fueled a 1.1% increase in average list-to-sale price to 95.1%, for a 12-month average of 1.9%.

Average Days on Market average rose to 185 from 93 in August for single family homes and duplexes, but dropped from 161 to 118 over the same period for condos and townhomes. The 12-Month Average fell in both categories, however, down 15.3% for single-family properties and 6.7% for condos/townhomes.

New listings were up 21.3% for single family/duplex homes, but fell 14.3% for townhouse/condo properties. Meanwhile, pending sales decreased 3.4% for single family homes and duplexes, but rose 39.6% for condos and townhomes.

The Vail Board of Realtors remarked that the numbers represent a return to “normal market conditions,” but also cautioned that recent natural disasters have had a significant impact in some areas. While the Vail Valley was not among the regions directly affected by recent fires or flooding, ripple effects from those disasters as well as the recent government shut down remain to be determined.

The Vail Board of Realtors Monthly Indicators report is compiled from the Vail MLS. The report may be read in full by following the link below:

September 2013 Monthly Indicators

The Vail Board of Realtors Monthly Indicators report is provided here 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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