A look at the numbers for 2016, the NAR examines what opportunities and potential setbacks the real estate world might find as the new Congress swears in, and the snow just keeps on coming in the Vail Valley.
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 72 residential property sales in the Eastern Vail Valley – from East Vail to Wolcott – in December 2016. This marks the second month of shrinking after three straight month of transaction volume growth for the Eastern Vail Valley. Price per square foot, however, shot to $614 – the second highest total of the year, behind only July ($622). An average of 80 homes sold each month in the upper valley in 2016, for an average of $548 per square foot. That’s down from the 2015 average of $575, but up from the 2013 average of $475.
In the Western Vail Valley – including Eagle and Gypsum – the market’s strong performance of 2015 continued in 2016. An average of 27 homes per month sold in 2016 for an average of $210 per square foot – up almost $20 over the 2015 average and $59 per square foot over the 2013 average. Only four distressed properties sold in this market in 2015.
More information on the Vail Real Estate Market including the Slopeside, Eastern and Western regions is available at our Market Report Center. If you’re wondering about the current market value of a specific Vail Valley property, you can find more information here.
“We will weigh in at the appropriate time and with the appropriate committees as the process is unfolding. We are not at the center of this debate, but we will weigh in as needed to help ensure independent contractors and small businesses have access to health insurance that meets their needs.” Healthcare, he NAR takes a look at the possibilities of the 2017 Congress.
“These delays should ease in the coming months as refinance volume eases and as lenders continue to adapt to the new settlement process, but a longer average time-to-close may be part of the new normal.”
What to Do in the Vail Valley
Vail has seen 22 inches of snow over the past week – so get out and ski! On Monday, you can join the Rocky Mountain Home Team’s Stephanie Hart for an after-ski cup of hot chocolate at our Vail Scorpio 305 listing from 3-5 p.m.!