Vail Valley Real Estate News, Market Conditions and Trends for Friday, May 23, 2014. The latest numbers from the Vail Board of Realtors, new listings in the Valley and beyond and the U.S. government is still moving at a glacial pace. This is an archived edition of our weekly news brief. Visit our Vail Valley Real Estate News page for the latest updates!
Friday, May 23, 2014
The Vail Board of Realtors has released the Monthly Indicators Market Report for March 2014. The numbers continue to show the steady improvement we’ve seen for several months now in the Vail Valley real estate market.
“The public has finally grown used to talk of a real estate market in recovery,” says the report’s introduction. “Most metropolitan markets are somewhere between recovery and normalization.”
The numbers for Eagle County indicate that potential sellers are catching on to the improving market. New listings for condo and townhouse properties shot up 53.2 percent, while single family listings increased by 16.7 percent. Median sales price increased 31.7 percent for single family and duplex homes, and 11.9 percent for condo and townhomes.
For more information, download the complete Vail Board of Realtors Market Indicators report, courtesy of the Rocky Mountain Home Team!
“Sales of existing homes posted their first gains of the year in April, and a surge in new listings coming onto the market last month could give what’s left of the spring buying season a badly needed boost, according to the National Association of Realtors.”
“We’ll likely see tax reform changes eventually, but it’s probable that most homeowners won’t be significantly impacted. The question is one of degree, and of timing. Legislation, like tax reform, typically moves glacially at best, especially in an election year.”
Fifty-three percent of U.S. home owners say they are remodeling to increase the resale value of their home, but they have no plans to move in the next five years, according to a new Houzz & Home survey of more than 135,000 respondents. Sixteen percent of remodelers say they plan to sell their home in the next two years.
This Week in the Vail Valley
The Vail Valor Races will be held in Vail this Memorial Day weekend. Events include Sunday’s canine cross-country race and the mountain marathon, marathon relay, half marathon, 5-mile run/walk and 1-mile family fun run on Sunday. The Valor Races benefit the Vail Veterans Program.