The Vail Valley enters the “summer selling season,” mortgage applications (and rates) are up and Farmers Markets return to Eagle County. 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 Listing Service (MLS) recorded a busy month in May 2015 as the Vail Valley got its first taste of the “summer selling season.” Led by a surge in ski property sales, sale price per square foot was up 18% over May 2014 in the eastern Vail Valley. In the West, the days on market median was just 13 days. Meanwhile, distressed property sales remained scarce in all markets.
As the weather improves and prices tick upward, more homes are coming on the market. Fifty-five new listings were launched in the MLS for the first week of June, while 23 homes went under contract that same week.
For more information on the Vail Valley Real Estate Market, visit the Rocky Mountain Home Team’s Market Report Center.
An Inman News report found a surge in mortgage applications, even as interest rates ticked upward to their highest rates since Nov. 2014. Many buyers sense that a more permanent increase over the historic lows of recent years is inevitable, creating a strong motivation to buy now and lock in lower interest rates.
The Urban Institute offers an interesting projection into the future with a speculative look at Real Estate in the year 2030. Their biggest prediction is that the number of renters will continue to rise, creating an increasing demand for rental properties. It’s already a great time to invest in Vail Valley rental properties – and if this report is even partially correct, the future will be even better.
What to Do in the Vail Valley
Farmers Markets are a quintessential part of the Vail Valley summer experience. Here are a few not to miss!
The Minturn Market returns for its 17th year in 2015, transforming downtown Minturn into a thriving marketplace for farm-fresh produce, fresh cooked ready-to-eat breakfast and lunch items, arts and crafts and more! The 17th annual Minturn market begins Saturday, June 13, and continues each Saturday thereafter, 9 a.m. to 2 p.m., until Sept 5.
Also kicking off June 13 is the growing Edwards Corner Market in downtown Edwards. This event has expanded to 32 vendors offering fruits, vegetables, meats, fish, chiles, wines, pasta, hot sauce and more. It will run weekly on Saturdays, 9 a.m. to 1:30 p.m., from June 13 to Sept 12.
The Vail Farmers Market and Art Show begins Sunday, June 21 and will be held each Sunday thereafter, 10 a.m. to 3:30 p.m., until October 4th. Featuring food, entertainment and over 135 vendors, you will find something for everyone right on Meadow Drive.