Some important numbers to help you understand the Vail Valley Real Estate Market:
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.