A strong finish for Vail Valley Real Estate in 2014, great news for 2014 short sellers and what to do when you’re done skiing for the day. This is an archived edition of our weekly news brief. Visit our Vail Valley Real Estate News page for the latest from the Rocky Mountain Home Team.
December 2014 ended with 105 residential real estate sales in the Vail Valley according to the Vail Board of Realtor’s Multiple Listing Service, an increase of 19 percent over November’s 88 residential sales and 25 percent from December 2013. Average price per square foot rose to $555, up 32.78 percent from November and 31.5 percent from December 2013.
2014 saw increased activity in the Vail Valley’s luxury homes market. Two property sales over $10 million in December put the 2014 total at six homes above $10 million. The top-selling property of the year sold for $19,000,000, and two sales tied for second place at $18,500,000. In 2013, only two homes sold for over $10 million, with a top price of $13,550,000.
Visit our Vail Valley Real Estate Market Report Center for a more detailed look at statistics and market summaries for Eagle County.
Remember the Mortgage Debt Relief Act extension? Well, apparently Congress finally did as well. If you completed a short sale in 2014, Christmas came a little early this year. We at the Rocky Mountain Home Team work with short sale clients on a regular basis, and this is great news for our 2014 clients. There has been no word yet on 2015 – and if 2014 is any guide, there may not be for about another year. Forgiving tax burdens on cancelled debt makes sense. We can only hope Congress continues to agree.
2014 will be remembered for being the year drones broke into the real estate business in a big way. Now, for just $375, you can pick up your own ghost drone. We would rather work with professionals than fly our own – you’ll already find aerial tours on our YouTube channel – but as drones become more affordable, expect this service to be increasingly common.
What to do in the Vail Valley
The snow has been dumping in recent days, and if you’re not breaking out the skis, snowboards and snowshoes yet – you really should be! After a good day on the slopes, it’s time for some apres ski action. Don’t know where to find it? The Vail Daily has some suggestions.