The numbers for the first half of March, a look at a real estate trend that for once is NOT unique to our market, and an update on the snow in ski country. This is an archived edition of our regular 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 51 residential property sales for the first 15 days of March 2017, including 18 homes for over $1 Million and 2 for over $5 Million. Average price per square foot was $573, and days on market averaged 175 for Vail Valley homes.
As interest rates remain lower than anticipated, the only major obstacle to most Eagle County home buyers is low inventory, particularly at lower price points. Homes priced $350,000 or less, often ending up in multiple-offer situations after a week or less on market. In times like these, home sellers would be wise to leave their property on the market for a set period of time – even if it’s only a week or over a weekend – to give the offers a chance to come in before accepting a deal from the first interested buyer.
Property values in the Vail Valley are on the rise. Curious to see what your home might be worth? Contact the Rocky Mountain Home Team for a no-cost, no-obligation market analysis of your home.
Visit our Market Report Center for more on the Vail Valley Real Estate Market.
It’s not just the Vail Valley. “In recent years, the National Association of REALTORS has heard concerns regarding a perceived shortage in appraisers,” says the lead in to the National Association of REALTORS report on appraiser trends.
Anyone hoping to obtain a home loan in Eagle County is well aware of the difficulties involved in finding a timely appraisal. While we appear to be slightly better off than a few months ago – when appraisers were scheduling well ahead of 30 days out – you will want to connect with your lender to make sure your contract deadlines are realistic. What makes this situation unusual is that, unlike many of the unique issues involved in Vail Valley Real Estate, the appraiser situation appears to be nation wide according to the NAR survey.
Vail Valley Ski Report
As of Friday, March 24, the base at Vail Ski Resort stood at 47”, with a season total of 192 inches of snowfall and two inches over the past week. Beaver creek was at 52 inches, with 241” total snowfall including 5” in the past seven days.
The final Rocky Mountain Home Team ski day is Saturday, April 1. Ski or Ride, come enjoy some fresh air, fresh turns, and BBQ with the team! Michael will be wearing a red jacket and a red helmet, come out and join us for a few runs or stay and play all day!