Vail Valley Real Estate News, Market Conditions and Trends for Friday, May 2: A strong finish for April, new flipping strategies and a distinctly Colorado way to meet with your elected officials. This is an archived edition of our weekly news brief. Visit our Vail Valley Real Estate News page for the latest updates.
May 2, 2014
The Vail Multiple Listings Service recorded 97 residential property sales Eagle County in the month of April 2014, a slight gain over 95 homes sold in the same month of 2013. The major difference since last year is price. In April 2013, only one home sold for over $5 million. In 2014, nine homes sold for over $5 and two sold for more than $10 million. Increased activity in the luxury market, heralded since the start of the year, appears set to continue, with over 100 properties currently listed at over $5 million.
National Real Estate News
Home prices are up 12.9% over last year, according to the latest price index from Standard & Poor’s / Case-Schiller. Prices have not yet made it back to 2005 levels, according to the index, but progress continues.
“Slowing home price appreciation early this year in many of the most popular flipping markets put some investors in danger of flying too close to the Sun. But investors appear to have recalibrated their flipping strategy, accounting for the slower home price appreciation even if that means fewer flips. This is another good sign that this housing recovery is behaving much more rationally than the last housing boom, which was built largely on unfounded speculation rather than fact-based calculations.”
This Week in the Vail Valley
Only in Colorado? The Eagle Board of Trustees and the Eagle County Board of Commissioners will host a mountain bike ride and brewery tour on May 9th. No RSVPs are needed to take part in the bike ride. Participants simply need to meet in Eagle and assume responsibility for their own equipment and after-ride beverage. The ride begins at 7 Hermits Brewery Company at 4 p.m. and ends back at 7 Hermits at 6 p.m. An intermediate mountain biking ability level is advised.
For more information, contact Vail Town Councilmember Greg Moffet at firstname.lastname@example.org, or Eagle Mayor Yuri Kostick at email@example.com, or Eagle County Commissioner Kathy Chandler-Henry at firstname.lastname@example.org.