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What's Happening in the Vail Real Estate Market?
Here's a summary of the most recent monthly update from Land Title Guarantee:
January 2010 Numbers Double Over January 2009
January 2010 dollar volume doubled that of January 2009 with a volume $86,864,200. The number of transactions comes in at 72% above last year, with 79 compared to 46 a year ago. The average sales price for January hit $1,108,616 with a median price of $735,000.
Included in the January sales numbers are 19 Westin residences which averaged $732,479. The sale of the Cotton Ranch Golf Course in Gypsum also boosted the sales figures at $2.5 million.
January 2010 had a total of four transactions over the $4 million mark. The highest sale price came from an Arrabelle residence, closed at $5.75 million.
January Highlights: • Single family homes averaged $1,694,616
• Avon had nearly 1/3 of all transactions and more than 20% of the dollar volume due to the Westin sales.
• The Arrabelle sale in LionsHead created the highest average price of any area at $5.75 million
2009 Real Estate Sales Finish Below 2008
Eagle County Real Estate ended the year with December sales of $86,926,716 and 95 transactions. December finished above the year's monthly sales volume average of approximately $75 million and 78 transactions per month.
The year-end total for 2009 is 938 transactions and $898,444,183 in dollar volume . It was the first year since 1996 that we did not surpass $1 billion in sales.
The driving force in 2009 was sales in the price range of less than $1 million. There were 499 residential properties sold in this category, accounting for nearly 70% of all transactions.
The price sectors that saw the greatest variance were high-end properties selling for more than $4 million. In 2009, there were 23 transactions; 2008 had 102. The most expensive residential property sold in 2009 was in Vail Village with a selling price of $15.95 million. In 2009, there were 358 single family homes that sold and exactly the same number of multifamily homes.
Year end highlights:
• Beaver Creek ended the year as the area with the highest dollar volume $106,585,900
• Eagle had the most transactions with 135 • Eagle County ranked 2nd in dollar volume for Colorado resort markets
Copyright-2009 Land Title Guarantee Company. All rights reserved. For more market statistics, click the Frequently Asked Quations link underlined above.
Vail: Like Nothing on Earth
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