The Vail Daily provided it’s own market analysis piece this week – a roundup of local brokers agreeing that inventory under $1 Million is sorely lacking in Eagle County.
First, one small critique: The “by the numbers” section notes that the Vail Valley has 7.3 months of inventory for single family and duplex units. That’s a confusing number to lead an article about a lack of inventory. Seven months is a balanced inventory or perhaps a budding buyer’s market.
We’ve noted elsewhere how that number should be broken down further to be better understood.
That aside, the rest of the article makes it very clear that, for most homebuyers and would-be homebuyers, Eagle County is not a balanced market or a buyer’s market.
The most revealing part of the article is this: “The bulk of the valley’s sales for years came in the segment priced at $500,000 and lower. Last year, the segment between $500,000 and $1 million accounted for the bulk of local sales.”
As you can probably guess, that’s not because nobody’s interest in buying Eagle County homes for less than half a million dollars.
Small, start-up style properties just aren’t on the market in numbers anywhere near demand. To add our voice to the many brokers quoted in the article – the inventory just isn’t there. It may be “even more true now than ever” – but it’s not a new problem, and we have been saying this for years.
And we’re not just talking about the problem, either. Rocky Mountain Home Team leader Michael Routh is a member of the development team for The Residences at Fox Hollow – a new, 87 unit development coming to Edwards in September 2019. If you’re looking for Vail Valley homes under $500,000, you will want to take a look.
Are you searching for a home in Colorado’s Vail Valley? Michael Routh and the Rocky Mountain Home Team has over 30 years of combined real estate experience. We can help you find a property to fit your real estate needs. Contact us today for more information on buying a home in Eagle County or to start your Vail Valley property search.