Vail Valley Real Estate News, Market Conditions and Trends for Friday, May 16, 2014: Land Title’s review of Q1 2014, how to be a landlord in the age of legalized marijuana, the return of the 10th Mountain Roller Dolls’ Melee in the Mountains and more. This is an archived edition of our weekly news brief. Visit our Vail Valley Real Estate News page for the latest updates!
Locals buyers accounted for 41.56 percent of Colorado resort region real estate sales in the first quarter of 2014, according the latest report from Land Title. Front Range and Out-of-State buyers combine for 56.66 percent of the total, with a small percentage of international buyers making up the remainder.
The report, which compiles real estate transaction data for the first three months of the year, reveals steady improvements over first quarter of 2013. Significant gains were reported in median price (+19.67%), average price (+10.78%) and average price per square foot (+10.36%) in Eagle County, while the number of bank sales fell from 50 to 11.
The sustained, steady rise of the market as revealed in this report provides a strong launch into the summer selling season. We touched on this last week, but it bears repeating: If you were already thinking of selling your Vail Valley home, you may wish to consider reviewing a comparative market analysis for your property. Conditions could be more favorable to a sale than you think.
If you are hoping to buy a Vail Valley home, an experienced, professional real estate agent is a powerful ally in today’s highly competitive market.
“Are you kidding? If I retired, it would be the end of me. I really believe real estate is what’s keeping me alive.” Check out this excellent feature story / salute to some of the most experienced members of our profession.
REALOR Magazine provides some sensible advice to single-family property landlords regarding legalized marijuana and what it could mean for your properties, tenants and lease agreements.
At a recent legislative and leadership summit for real estate managers, economists and industry leaders pointed out bright sports and investment opportunities, but warned that the economy is far from healed: “The Worst is Over, but the Best is Nowhere Near.”
This Week in the Vail Valley
The second annual Melee in the Mountains roller derby tournament will be held in Eagle this Saturday. Hosted by Eagle’s 10th Mountain Roller Dolls with proceeds to benefit the Red Ribbon Project of Eagle County, the melee – that’s pronounced may-lay, by the way – will feature baked goods, a silent auction, local brews from Bonfire Brewing and, of course, all the hard-hitting roller derby action you could ask for.