A look at the numbers for the first half of September, a look at the (lack of) inventory for affordable homes and a good read from Robert Freedman. 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 Listing Service recorded 60 single residential property sales for the first 15 days of September 2017. Seven homes sold for $2 Million or more, including the period’s top sale – a condo in Lionshead selling for $2,800,000. Average days on market for the 15 days stood at 98. As of Friday, Sept. 22, there were 795 residential properties for sale in Eagle County and another 295 under contract.
Inventory remains tight for affordable homes, with only eight eagle county homes currently for sale at less than $300,000 – including two in Red Cliff and one in Fulford. Expanding the budget by $50,000 will add 15 properties to the list, but almost half of those are “condo-tel” options. (For a variety of reasons, “condo-tel” properties should be considered outside the “affordable housing” discussion.)
If you’re planning to buy or sell an Eagle County home in this price range, the Rocky Mountain Home Team can help you understand the current market to make decisions in line with your goals.
A good read from Robert Freedman: “We Know We Need Housing and How to Get It. Unfortunately, That’s Where We Stop.”
Overall economic outlook remains positive: “For several years, we have had moderate economic growth of about two percent a year, solid job gains, and low mortgage interest rates. We forecast those conditions to persist into next year.”
What to Do in the Vail Valley
The Farmer’s Markets in Edwards and Vail are coming to an end this weekend (Sept. 23) and next weekend (Oct. 1), respectively. If you haven’t been yet, or want to make at least one more trip, now is the time.
The Vail Athletic Club will be hosting an open house on Sept. 30. Check out the Vail Daily article for more information.