This week we look at the numbers for August, the Vail Daily on affordability and this weekend’s Wheels & Wings festival. 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 recorded 126 sales in the Vail Valley for the month of August 2015, up 13.5% over August 2015. Year-to-date through August 31, total sales were up 12.6% over 2014 to 780. In the slope side markets of Vail Village, Lionshead, Beaver Creek, Batchelor Gulch and Lionshead, sale price per square foot dipped below $900 for the first time since April. The wider Eastern Vail Valley market from East Vail to Edwards and Wolcott also saw a slight dip in price per square foot, but at $499.74 was still 12% higher than August 2014. Average days on market fell for the sixth straight month in the Eagle-West market, to 37 days, with a median of just 21 days.
The Vail Daily ran a report on housing affordability in the Vail Valley. It’s a solid article about a real problem, as far as it goes, but this is what we do for a living so here are our inevitable observations: As the author points out – before doing it anyway – combining the whole Vail Valley into a single metric here is, for all practical purposes, meaningless. And while the idea that “the closer to the mountains, the more you will pay” is serviceable as a general rule, prices in Eagle County can vary widely even within towns and neighborhoods.
The main thing to remember is that buying a home is never a one-size-fits-all operation – don’t let a statistical increase in affordability dash your hopes for home ownership before you’ve even looked! Visit our Market Report Center for more information on the Vail Valley real estate market, and don’t hesitate to contact us directly if you’d like to know more.
What to do in the Vail Valley
The Cars & Coffee club has come a long way since 2009. At this year’s Wheels & Wings Festival, you’ll see over 150 cars and airplanes on display, plus aerobatics shows. The action starts at 9 a.m. Saturday morning and runs through 3 p.m., with aerobatics shows at 10 a.m. and 1 p.m. On Sunday, the action moves to Vail Village for the Vail Village Car Show from 9 a.m. to 1 p.m. Find more information at www.vailautomotiveclassic.com.