The summer is heating up for Vail Valley Real Estate, but not quite to the record highs of 2015. We take a look at how June 2015’s record jump in high-end property sales distorts the 2015-16 comparison, plus a look at the national market and Vail Valley entertainment. 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 84 residential property sales in Eagle County for the first 25 days of June. That’s down almost 42% from the same period for the previous year when, buoyed by a surge of activity in the high end market, average sale price for Vail Valley homes hit $420 per square foot. In 2016, the average so far for June is $388 per square foot.
To make sense of those numbers, consider the following: June 2016’s top sale to date was an Arrabelle at Vail Square condo in Lionshead selling for $3,750,000. For comparison, in 2015, ten homes sold for over $4 million, including the month’s top sale – a rare $15,750,000 single family home in Vail Village.
Naturally, that means overall averages are down without a comparable surge at the top. However, June 2016 is still a shaping up to be a brisk month for Eagle County home sales. In fact, if we limit the comparison to home homes under $1 million, properties actually sold for almost $20 more per square foot in the first 25 days of June than in 2015 – and an average of 47 days faster.
Colby Sambrotto is at it again. Now the self-styled FSBO guru (who sold his own home with a broker, of course) is offering a new way for homeowners to list their homes on the MLS and sell them for “Free.” (“Free,” in this case, means minimal options up front and an ongoing series of upsells.) This is it! Real Estate is now “disrupted!” No more brokers “holding the MLS hostage!” Who needs “Middle Men” anyway? Sigh. We’ve been over this before.
Inman News takes a look at the U.S. Real Estate Market for May, and June so far.
What to do in the Vail Valley
Bravo! Vail has announced the schedule for its 2016 Free Concert Series. The Free Concert Series presents hour-long chamber concerts at 1 p.m. every Tuesday and Thursday at the Vail Interfaith Chapel, with additional performances at various times and locations on other days of the week. The Vail Daily brings us more information.