Reviewing the numbers for November as we wait for the final version of the tax bill in the works and for snow to fall 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 95 residental property sales in November 2017, a drop of more than 23 percent in transactions from November 2016. Price per square foot for Vail Valley homes, however, was up almost 17 percent over November 2016.
Twenty of those November sales were in the slopeside market – representing Vail Village, Lionshead, Beaver Creek, Bachelor Gulch and Arrowhead. Average sale price in the slopeside market was $1,017 per square foot, above the average for 2016 of $952 per square foot. The wider eastern market, stretching from East Vail to Wolcott, saw 66 sales and a 7.7% increase in price per square foot over the 2016 average.
In the Western Market, including Eagle and Gypsum, the VBR MLS recorded 24 residential property sales, with price per square foot for the month up 10% over the 2016 average. Days on Market has cooled a bit from the heady days of Summer 2016, with the median home spending a bit over a month on market for the first time since April.
Are you renting a home in Eagle County? It may be worth looking at owning your own Vail Valley home. Contact the Rocky Mountain Home Team at 970-306-7711 to learn how we can help you navigate today’s fast-changing market and meet your real estate goals!
Visit our Market Report page for more on Eagle County Real Estate.
Residential and commercial property owners and investors are all eyeing the Tax Bill currently making its way through the legislature, but without a final version a worthwhile analysis is hard to come by. Early versions looked a little harsh on homeowners, but negotiations remain ongoing. Watch this space as the story (and the bill) develops.
What to Do in the Valley
Ski Season has begun … if only just. With just four of 31 lifts open at Vail Resort, skiers and snowboarders are watching the skies and hoping for snow. According to weather.com, the best chance for that is would be Thursday through Saturday, when increasing humidity and sustained low temperatures offer a 20% of snow as of Monday. The odds seem better in the latter part of next week, so folks looking for more than man-made powder may have a while to wait.