Vail Valley Real Estate News for Wednesday, February 6

Will 2019 be another bumper year for move-up buyers? Only time will tell for sure, but the numbers for January indicate it is off to a good start.

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 73 residential property sales in Eagle County for the month of January 2019.  Median sale price for a Vail Valley home in January was $660,000. The median sale price for 2018 was $699,000.

Over 4 months supply of inventory in the west, and over 6 months in the East, looks like the definition of a “balanced market.” Those Months Supply of Inventory are a measure of how balanced the market is between buyers and sellers. It is expressed as the number of months it would hypothetically take to sell through all the available homes for sale, given current levels of home sales.  The range between 4 to 7 months of supply is usually given as a balanced market.

If you’re hoping to spend less than half a million dollars on your next home, however, the Eagle County market looks quite different. Excluding ski slope listings, there were 326 total listings in the eastern Vail Valley, stretching from East Vail to Edwards and Wolcott on Monday, Feb 4. However, only 31 of those were non-mobile home listings priced $450,000 or less. Eight such listings sold in January, giving us a supply of under four months (3.875 months). In the West, the supply for non-mobile homes priced $450,000 or less stood at just over 2 months (2.27 repeating, if you want the exact figure).

2018 was a good year for move-up buyers – homeowners using funds from the sale of a smaller home to purchase a larger property. Low interest rates and a thriving market for smaller homes meant move-up buyers could sell for more and buy for less. It’s not a coincidence that two members of the Rocky Mountain Home Team upgraded homes last summer.

Will 2019 be another bumper year for move-up buyers? Only time will tell for sure, but the numbers for January indicate it is off to a good start.

Visit our Vail Valley Market Report page for more information on the Eagle County real estate in the Eastern, Western and Slopeside markets. 

The Rocky Mountain Home Team is one of the Vail Valley’s top producing real estate teams, with over 30 years of combined real estate experience.  Whether you’re buying, selling or investing in real estate in Eagle County, Colorado, have the expertise to help you meet your goals in this unique market.

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