The Eagle County real estate market continues to rise, yet another person who doesn’t understand what a good agent actually does, and what happens when you mix golf and soccer. (This is an archived edition of our weekly news brief. Visit our Vail Valley Real Estate News page for the latest update.)
August 22, 2014.
The summer heat may be winding down, but the Vail Valley Real Estate Market is still warming up. The latest numbers from Land Title Guarantee Co, as reported in the Vail Daily, confirm that sale prices are on the rise. While the number of sales stayed roughly even to 2013 numbers, dollar volume soared by over 40 percent.
August’s numbers remain promising. So far, August 2014 has seen 63 residential sales at an average sale price of $382 per square foot. That’s down slightly for the same period in 2013 (80 sales averaging $395 per square foot), but with over 100 properties put under contract since Aug. 1, we expect those numbers to increase.
Some good news from the National Association of Realtors! Existing home sales increased in July to their highest annual pace of the year while distressed sales continue to decline. Total existing home sales rose 2.4 percent to a seasonally adjusted annual rate of 5.15 million in July.
We found the following in a Business Week article on the Zillow-Trulia Merger: “When buyers are finding homes on their phones, taking virtual tours, and securing loans online, brokers add less value to the transaction. Likewise, sellers can prep their houses and find buyers with a few clicks of a mouse and no longer need to lean as heavily on an agent.” We will respond to this more fully at another time, but for now we’ll just mention that this is an extremely rose-colored view of the situation, and it still makes sense to work with an agent.
What to Do in the Vail Valley
We only have one weekend left before all the Oktoberfest action kicks off at Beaver Creek and then Vail. If you’ve already checked off all the items on your summer to do list, why not try some “footgolf” at the Eagle-Vail Golf Club.
Wondering what the Skiers are doing while they wait for the snow? Apparently, they’re over in Summit County jumping off cliffs.