A look at the Vail Valley Real Estate market in November, another reminder that some day interest rates will in fact rise, and a great start for ski season 2015-2016. This is an archived edition of our weekly Eagle County Real Estate 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 67 residential property sales in Eagle County for the first 20 days of November 2015, down from 72 for the same period in October. Average selling price per square foot was $535, after an average of 137 days on market. The biggest sale of the month to date was a townhouse in Vail Village selling for $6,000,000.
17 properties sold in the ski slope markets of Vail Village, Lionshead, Beaver Creek, Bachelor Gulch and Arrowhead. Average selling price per square foot for ski slope properties was $1,142, after 220 days on market. In the wider Eastern market stretching from Vail to Edwards and Walcott, 52 properties sold at an average of $640 per square foot after an average of 153 days on market. Homes continued to sell fasted in the Western Valley, including Eagle, Gypsum and Dotsero, where 13 homes sold for an average of $179 per square foot after an average of 83 days on market.
For a more in depth look at Vail Valley Real Estate, visit our Market Report Center at www.vailrealestatemarket.info.
“One of these days, the Federal Reserve tells us, it will decide to raise interest rates.” New York Times author Kevin Granville takes a look at when and why this might happen. Also of note from the article: “The last time the Fed raised interest rates, in June 2006, Facebook was mainly for college students and had one-tenth the users of Myspace.
The National Association of Realtors asks “Are Rental Markets Finally Cooling Off?” It may be worth watching to see if the national trend has any local effect … but we wouldn’t count on Rental markets cooling in the Vail Valley any time soon.
What to do in the Vail Valley
Ski Season 2015-16 has begun in the Vail Valley, with both Vail and Beaver Creek resorts reporting record skiable terrain available on opening day. The Rocky Mountain Home team will be following the ski season on Facebook. We’ll see you on the slopes!