What a seasonal slowdown does and does not mean for the Vail Valley and the nation, a look at the numbers for February, and where you can go to Jump, Jive and Wail this weekend. 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!
The Vail Board of Realtors Multiple Listings Service recorded 60 residential sales in Eagle County for February 2015. The average price per square foot for Vail Valley Real Estate was $500, while the average days on market was 232.
Historically, the early months of a new year are not the high point for number of sales – and February proved no exception, continuing January’s drop in sales volume after record highs in December. If history is any indicator, we can expect one more low-volume month in March before the numbers pick up in April and May.
How much Vail Valley homes are selling for (price per square foot) and how long they take to sell (days on market) do not appear to be influenced by these seasonal market slowdowns. This suggests the slowdown has more to do with sellers reluctant to put their home on the market before the “selling season” than a lack of demand.
Thinking of putting your Vail Valley home on the market ahead of the spring rush? Michael Routh’s Rocky Mountain Home Team can help. You can trust our proven marketing systems and 10+ years of Vail Valley Real Estate experience to help you sell your home in the least amount of time, for the most money. Contact Michael today to learn how our systems can be your solutions!
For more a more detailed look at Vail Valley Real Estate, visit our Market Report Center.
Seasonal slowdowns are not unique to the Vail Valley. With several feet of snow burying the East Coast, especially, a drop in overall number of sales is to be expected. What we did not expect were several media outlets who should have known better mistaking a cyclical drop in transaction volume for a “tight,” “depressing” or even “abysmal” market. Economist Mark Fleming provides a handy reminder on How Not To Interpret January’s Housing Data.
Still think the housing market is in crisis? CoreLogic’s 2015 National Foreclosure report revealed a 33.2 percent drop in foreclosure inventory in January. That represents a 63 percent decline from 2010’s peak in foreclosures. About 549,000 homes remain in foreclosure – still fairly high, but down from 822,000
What to do in the Vail Valley
The Vail Performing Arts Academy kicks off its 20th season celebration this weekend with “Jump, Jive and Wail’ – a tribute to the top Billboard songs from the 50’s and early 60’s. Get your tickets at the door, Saturday and Sunday, 6 p.m. at Eagle-Vail’s Homestake Peak School, or online at www.vpaa.org.