Real Estate Market Stats for the Vail Valley

Eagle County Residential Stats

    # of Active Listings (as of 2/10/12): 1152

    Total # of Sales in January 2012: 59

In Vail Village and Lionshead, there are 223 properties listed with just 29 sales in the last 6 months producing a 46+ month inventory of properties in these two areas. SELL NOW or sell for less later.

Contact Sondra Slappey Today for a Market Analysis of Your Home.

     Sondra@InvestInVail.com      970-376-8000

Visit my website for market information and all available properties in the Vail Valley and Eagle County:  http://www.investinvail.net/mimarket/zip/81657/

Vail Real Estate Update

Isn’t is nice when we can all agree on something? Suffice it safe to say that 2011 went out with a whimper in the Vail real estate market, especially for the 1254 active sellers currently trying to find buyers for their properties. In total, 886 residential properties (listed in the MLS) sold in the Vail Valley in 2011. This is almost identi-

cal to the number of 2010 sales. The difference is that prices are down another 15% or more from 2010 and are likely to go down further.....there's alot more to this story.

Vail Valley Real Estate Statistics - Higher Volume - Lower Prices - Big Increase in Properties Under Contract

Here are some statistics that will probably not surprise most of us in the real estate markets. Volume is up and prices are declining. Basic math provides the following insights:

Since January 1, 2009 there have been 417 residential real estate closings *
The average sold price has decreased by 17%
The average days on market has increased by 19%
The sold price as a percentage of the list price is 86%

In the last 30 days:

The number of active listings is 1621, down about 10% from August (as one would expect from properties being placed back into the rental pool for the ski season).
65 sales in the last 30 days, a 40% increase from the month of August.
The average sold price is $1,012,854, down 6% from August
Homes are still selling at 86% of list price
The average sold price per square foot is $417
The average cumulative days on the market is 277.

The statistical data above refers only to properties listed in the MLS and are believed to be accurate with no guarantees.

Of great note is that in the last 30 days, 165 properties have been put under contract. This is an increase of 165% from August. My personal take on this uplifting statistic is that many people believe we are nearing the bottom of the real estate meltdown in this Valley. While there is still tremendous downward pressure on prices, an increase in volume is a leading indicator of a recovery, even if it is 1-2 years away.

If you are Thinking of Selling Your Home in Vail, be sure it will Stand Out among its competitors

Since there are fewer buyers looking at properties, what will it take to make your home the #1 choice of those searching? Pricing, condition, marketing and finishes are all controllable variables. Remember that first impressions are LASTING impressions. Do everything you can to make your home stand out and by all means keep it accessible to potential buyers. Other options include offering owner financing, paying closing costs or buying down the buyer’s interest rate. Call me for more creative strategies and a free market analysis. http://www.investinvail.com/

Macro Trends Facing the Vail Valley

I wrote in a longer article last month about the predominant changes facing the Vail Valley and its real estate market and the Macro Trends facing the valley as a whole. To read the article in full, visit http://www.investinvail.com/newsletter/ In summation, real estate prices have dropped 10-20% thus far and are projected to continue to fall over the next 12-24 months. The western areas of the valley have impacted more severely and continue to experience the most significant price declines. Construction and real estate employers have begun to layoff employees and further staff reductions are likely. Lack of growth will be the biggest problem facing the valley, and Vail Resorts positioning, marketing and response to changing demographics will be crucial moving forward. Young, metropolitan women are earning more than their male counterparts and the minority populations are increasing. Historically, skiers are 60% male and mostly white. The good news is that our valley has become a year round destination and a year-round home to over 70% of the residents of Eagle County. Vail Valley's proximity to Denver and expanding economy will help to offset the effects of a national recession where once we were strictly a luxury commodity of sorts. Read the article for more valuable information and please write a post if you have comments.

September 2008 Vail Valley Real Estate Statistics

September 2008 real estate statistics are out, and a total volume of $169 million was closed. 16% of the dollar volume closed was attributable to the Westin Riverfront http://www.westinriverfront.com/index.html in Avon nearing completion with 35 units closing in September for a total of $27.6 million. The 2008 average monthly sales volume is $185 million. September was also boosted by 5 sales each over $5 million dollars. 33% of the transactions to date in 2008 are in the price range between $500,000 and $1 million. For detailed statistics by neighborhood, please email me and I will send you the monthly Land Title report (www.ltgc.com). My Vail Valley quarterly real estate newsletter will be coming out soon!