Vail Valley Real Estate Market Report Center

Welcome to the Rocky Mountain Home Team’s Vail Valley Real Estate Market Report Center!  Here you’ll find the latest real estate statistics news, and information for Eagle County, Colorado, homes. To begin, simply select the area you would like to explore:   Slopeside Markets Edwards East Eagle West Glossary  

Slopeside Markets

The Vail Board of Realtors Multiple Listing Service recorded 22 residential property sales for the month of August 2016 in the Vail Valley’s slopeside market. Average sale price for the slope market – including Vail Village, Lionshead, Beaver Creek, Bachelor Gulch and Arrowhead – hit its lowest point for the four years on record at $707 per square foot.  Home buyers found some end-of-summer deals, including an Arrowhead duplex selling for $372 per square foot and a single family home in Beaver Creek for $488 per square foot. That single-family home was a short sale – this market’s first recorded distressed property sale since May of 2015.

In a market this select, it does not take many such standout sales to sink the average – and, of course, the reverse is also true. In July, for example, three of the 14 sales for the month were for over $1,800 per square foot, which launched the average to $1,172.75 per square foot.  Still, the numbers for August are a good reminder that deals are still out there on Vail Valley Ski Properties – if you know where to look.

How much might your home in the Vail Valley be worth? A complimentary Comparative Market Analysis for your Eagle County Home  from the Rocky Mountain Home Team  will give you the answer. Click on any image for a larger version in a new window.

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Edwards – East

The Vail Board of Realtors Multiple Listing Service recorded 101 residential property sales for the Month of August 2016 in the Eastern Vail Valley, passing the 100 sales mark for the third time in two years. Average days on market fell to 142, falling below 150 for the first time this year.  Although the market has remained stable in recent months, the average sale price per square foot is up 3.8% over August 2014 and almost 39% over August 2012.  This could mean significant equity gains for home owners.

How long will the upward trend last? There is no sure way to know. Nationwide, real estate markets are appreciating, but sluggish. That isn’t exactly a bad thing, as slow but steady gains tend to be more reliable and less prone to boom-and-bust cycles.

If you are thinking of buying or selling a home in this competitive market, you will need a good agent to avoid paying too much, selling for too little or taking too long to sell.  The Rocky Mountain Home Team has the experience and expertise to navigate the market and negotiate the best deal for you. Contact us today to see how our proven systems can be your solutions! Click on any image for a larger version in a new window.

 

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Eagle – West

The Vail Board of Realtors Multiple Listing Service recorded 46 Residental Property Sales in August to tie with May as the busiest months of 2016 so far. Average price hit a record $270 per square foot, up over 22% from the year’s previous high. Days on Market remained low with an average of 45 and a median of just 17 days.

The Eagle-West market remains one to watch for both first time homeowners and investors as rents remain high and interest rates – for the time being – remain low.

If you are still renting in the Vail Valley, those low interest rates make it a great time to take another look at owning a home – but you’ll need to know what’s on the market.  Don’t know how to get started?Contact the Rocky Mountain Home Team – we’ll guide you every step of the way! Click on any image for a larger version in a new window.

 

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Glossary

New Listings: A measure of how much new supply is coming onto the market from sellers. A “listing” is a property that has been entered into the MLS for sale.

Pending Sales: A count of all the listings that went into “Pending” status during the reported period. Pending listings are counted at the end of the reported period.  Each listing is counted only one time.  If a listing goes into Pending, out of Pending then back into Pending all in one reported period, this listing would only be counted once.  This is the most real-time measure possible for home buyer activity, as it measures signed contracts on sales rather than the actual closed sales.  As such, it is called a “leading indicator” of buyer demand.

Closed Sales: A measure of home sales that were closed to completion during the report period.

Average and Median Sales Price: The average sale price is exactly that – the sum of all sale prices divided by the number of sales.  The median sales price is a price point where 50% of activity was higher and 50% was lower.  A few high level sales at the top of the market can raise the average, but will have little effect on the median.

Percent of List Price Received: A mathematical calculation of the percent difference from last list price and sold price for those listings sold in the reported period.

Days on Market until Sale: How long it takes homes to sell, on average.

Housing Affordability Index: A measure of how affordable a region’s housing is to its consumers.  A higher number means greater affordability.  The index is based on interest rates, median sales price and average income by county.

Inventory of Active Listings:  A measure of the number of homes available for sale at a given time.  The availability of homes for sale has a big effect on supply-demand dynamics and home prices.

Months Supply of Inventory: A measure of how balanced the market is between buys and sellers. It is expressed as the number of months it would hypothetically take to sell through all the available homes for sale, given current levels of home sales.  A balanced market ranges from 4 to 7 months of supply.  A buyer’s market has a higher number, reflecting fewer buyers relative to homes for sale.  A seller’s market has a lower number, reflecting more buyers relative to homes for sale.

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