Vail Valley Real Estate Market Report

Welcome to the Rocky Mountain Home Team’s Vail Valley Real Estate Market Report Center!  Here you’ll find the latest real estate statistics news, and information for Eagle County, Colorado, homes. To begin, simply select the area you would like to explore:   Slopeside Markets Edwards East Eagle West Glossary  

Slopeside Markets

The Vail Board of Realtors recorded 19 residential property sales for February 2019 in the slopeside segment of the Vail Valley Real Estate Market, which includes Vail Village, Lionshead, Beaver Creek, Bachelor Gulch and Arrowhead.  Average sale price fell from a record December to $900 per square foot. The 2018 average was $1,056 per square foot.

On Tuesday, March 5, there were 296 residential properties available in the Slopeside Market, a net loss of 11 listings over January.  There were 47 homes under contract.

A Note on the Slopeside Market: It’s A Small & Swingy Sample Size

Are you looking for a home in the Vail Valley? Michael Routh and the Rocky Mountain Home Team can help you find the home you’re looking for. Contact us today for more information on buying a Vail Valley ski property or to start your Vail Valley property search.

 

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Edwards – East

The Vail Board of Realtors’ Multiple Listings Service recorded 54 residential property sales for February 2019 in the Eastern Vail Valley – from East Vail to Wolcott. Average days on market fell 11 days to 126, while the median rose by 43 to 56 days.

Average sale price for Eastern Vail Valley homes was $756 per square foot – down from a record December, but over still over $100 up from the 2018 average of $642. A single bank owned property in Cordillera sold for $274.19 per square foot in January, the first distressed property sale since February 2018.

Excluding Slopeside Homes, there were 593 active listings – just under 11 months of supply – and 105 homes under contract in the Eastern Vail Valley as of February 4, 2019.

A Note On The Eastern Market: Don’t Wait for a “Correction”

Are you looking for a home in the Vail Valley? Now might be the time to buy! Interest rates are still low, and there are still deals to be had in today’s market. It is entirely possible you could be paying less than your monthly rent and building equity at the same time.

Michael Routh and the Rocky Mountain Home Team can help you find the home you’re looking for. Contact us today for more information on buying a home in Eagle County or to start your Vail Valley property search.

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Eagle – West

The Vail Board of Realtors’ Multiple Listing Service recorded 23 residential property sales in the Vail Valley’s western market, including Eagle and Gypsum, for February 2019. Average sale price per square foot was $251 in February – down 11 days over December but above the 2018 average of $246.

On Tuesday, March 5, there were 91 residential properties available in the Western Eagle River Valley, about 4.3 months of supply. There were 67 homes under contract. Days on market averaged 96.

The first two months of 2019 saw no distressed property sales in western Eagle County. While a foreclosed home still turns up every now and again – three each in 2016 and 2018 plus four in 2017 – most homeowners are gaining equity and getting very close to list price for their properties. It is hard to see a distressed property market returning in force in the short term without a wider economic recession.

Are you thinking of selling your home in the Western Vail Valley? Michael Routh and the Rocky Mountain Home Team have the skills you’ll need to sell your home for the most money in the least amount of time. Contact us today to see how much your home might be worth.

 

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Glossary

New Listings: A measure of how much new supply is coming onto the market from sellers. A “listing” is a property that has been entered into the MLS for sale.

Pending Sales: A count of all the listings that went into “Pending” status during the reported period. Pending listings are counted at the end of the reported period.  Each listing is counted only one time.  If a listing goes into Pending, out of Pending then back into Pending all in one reported period, this listing would only be counted once.  This is the most real-time measure possible for home buyer activity, as it measures signed contracts on sales rather than the actual closed sales.  As such, it is called a “leading indicator” of buyer demand.

Closed Sales: A measure of home sales that were closed to completion during the report period.

Average and Median Sales Price: The average sale price is exactly that – the sum of all sale prices divided by the number of sales.  The median sales price is a price point where 50% of activity was higher and 50% was lower.  A few high level sales at the top of the market can raise the average, but will have little effect on the median.

Percent of List Price Received: A mathematical calculation of the percent difference from last list price and sold price for those listings sold in the reported period.

Days on Market until Sale: How long it takes homes to sell, on average.

Housing Affordability Index: A measure of how affordable a region’s housing is to its consumers.  A higher number means greater affordability.  The index is based on interest rates, median sales price and average income by county.

Inventory of Active Listings:  A measure of the number of homes available for sale at a given time.  The availability of homes for sale has a big effect on supply-demand dynamics and home prices.

Months Supply of Inventory: 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.  A balanced market ranges from 4 to 7 months of supply.  A buyer’s market has a higher number, reflecting fewer buyers relative to homes for sale.  A seller’s market has a lower number, reflecting more buyers relative to homes for sale.

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