The inventory of homes for sale remains tight in Colorado’s Eagle County, despite the expected bump entering the “summer selling season.” As of June 13, there were 727 active listings in the Vail Board of Realtors Multiple Listings Service, including 400 single family or duplex homes. Only 100 of those single family or duplex homes are priced at or under $1,000,000. At or under $500,000? Just 29, including six “out of county proper” listings.
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.
Buyers are eager to purchase what is available. The Vail MLS recorded 123 residential property sales in May 2018, almost a quarter of the year’s 498 recorded sales for the first five months of 2018. The average days on market for all residential properties priced at or under $500k was less than a month and a half. Anecdotally, our own listings beneath that price point have sold even faster than that.
Given the squeeze on affordable single family or duplex homes, buyers are turning to condos and townhouses. They’re also moving further west: growing demand in Gypsum and ongoing construction in Dotsero is turning what was once the Vail Valley’s western fringe into a growing community of homeowners.
As we’ve being saying for months now, homeowners looking to move into larger homes are in a great place in the current market. There’s good reason why two members of the Rocky Mountain Home Team have done just that – converting your home’s current equity into a large down payment at a time when interest rates are still at historic lows may mean you have more purchasing power than you realize.
Demand is high for homes in Eagle County! Want to know what your Vail Valley home might be worth? Contact the Rocky Mountain Home Team today at 970-376-7711 for a free, no-obligation consultation on you’re home’s current value and how you can make today’s market work for you.
What to Do in The Vail Valley
The Vail Farmer’s Market begins this Sunday, June 17, at 10 a.m. Running through October 7, the Farmer’s market has steadily grown from “a few tents” to over 135 in its 17 years, according to www.vailfarmersmarket.com. While the event’s roots remain with farm-fresh produce, the event also features wares from local restaurants and artists. We recommend arriving early to find a parking spot in either of the Lionshead or Vail Village parking structures!