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/

Residential Sales 4th Quarter 2011

To get most recent market information, at anytime, please go to my website and enter the zip code you want more information about:  http://www.investinvail.net/mimarket/zip/81657/

National Housing Trends are Improving Slightly - How about Vail's Housing Market?

The Daily Ticker with Aaron Gross and Daniel Gross has some interesting data and projections to share regarding the national housing market. While the inventory of new homes continues to decline and interest rates remain historically very low, the psychology for an immediate recovery is not yet in place.  Lenders continue to require verification of solid income and a good credit score to lend and many buyers are sitting on the sidelines wondering and waiting to see if the housing market has bottomed. Check out this short video:
http://finance.yahoo.com/blogs/daily-ticker/housing-still-groping-bottom-170749370.html?sec=topStories&pos=1&asset=&ccode=



Part of the ongoing trouble is continued high rates of unemployment with minimal job prospects for many folks. Consumer confidence has recently showed some signs of improvement but one has to wonder if that may be a seasonal disorder. If Congress can't come together to raise the debt ceiling level and the US defaults on its debut and loses its AAA credit rating, you can kiss any housing recovery goodbye. This is an opportune time to call your Senators and Congress persons and ask them to move forward, regardless of which side of the aisle you sit.

The Vail valley's real estate market is still struggling. The majority of the homes that are selling are priced below $ 1million. It seems that many buyers who may have previously spent $2-$5 million are settling for a little less and keeping their expenses down. Savvy buyers and investors are here in full force and the volume of transactions is somewhat surprising. It is not surprising that the majority of the inventory is still overpriced. There is a clear differentiation in this market between sellers and optimists.Competing with REOs and short sales is not an easy task.  As many of those properties tend to be in bad shape, traditional sellers have the advantage of presenting a "ready-to buy" product to buyers. As additional  capital for fixing up is not readily available anymore or more correctly almost never available, buyers are tending to purchase homes that require little maintenance and upgrading. The days of the HEQ are over for new purchasers.

It is much easier to feel optimistic about the market improving with a flurry of activity. My personal feeling is that we still have too much inventory which will put further downward pressure on prices into next summer at which time I would call for a bottom. Maybe I am right, maybe I am wrong. Time will tell. To search all Vail listings, visit www.investinvail.net

Time to Buy Real Estate in the Vail Valley

If you are considering "pulling the trigger" in the Vail real estate market, the time has come! July and August have been very strong months. If you try to time the market just right and wait for the "bottom", chances are you'll miss the opportunity. How lucky have you been at timing the stock market? There are deals to be had, particularly in the markets where supply is looming, like Singletree. As always. well priced homes that show well and are marketed properly will continue to sell fairly quickly. Remember that historically, since 1990, homeowners have received an average of 4.6% on the national level. Anyone here knows we've fared substantially better. Also, don't forget about the tax implications of owning primary or investment homes. Once you figure in the lack of capital gains and the depreciation and expense factors on investment property, your returns can go up significantly. If you want more statistics, speak up!

Vail's Strong Rental Housing Market

The rental market in our area and other resort locations is very strong with rapidly rising rental rates. We have seen rents increase over 20% in the last two years in the Vail Valley. The woes and worries in the mortgage market have made it more difficult for lower end or first time home buyers to purchase real estate. As a result of this, more people are currently renting homes which is creating strong demand. The supply of rental housing in resort areas has diminished precipitously as the price of real estate has escalated so quickly in the last few years. With starter homes in the $400,000s, who can afford to buy right now? Affordable housing continues to be the "hot topic" for many resort areas where the number of service jobs is increasing but the availability of rental housing is just not sufficient. The average price for a lower-end rental is $700-$900 per bedroom. Being on the bus route and accepting pets are sales points which will likely raise your rental rates further.

Buying Opportunity in Vail - Is it Time to Buy?

The Vail Valley real estate market is actually seeing some foreclosures and not just in the time share market. Upscale neighborhoods that were thought to be immune to the national housing disaster are showing signs of weakness. The average equity in a home in the United States has fallen to 46%, down from 60% last year. The number could go lower if housing values continue to fall in Vail and in the rest of the country. "Most mortgages made between the fall of 2004 and the fall of 2007, the majority of them are underwater," says Mark Zandi, chief economist at Moody's. If you'd like to link to the Eagle County website for foreclosure information, visit
http://www.eaglecounty.us/publicTrustee/ If you are experiencing difficulty and fear foreclosure is eminent, please contact a qualified real estate professional and call the Colorado Foreclosure Prevention Hot line at 1-877-601-HOPE (4673). If you have interest in purchasing foreclosed homes, give me a call at 970-376-8000.

National Housing Statistics

The New York Times reported that housing prices are down 15% across the nation, and about 8000 homes enter foreclosure every day. The Vail Valley is doing much better. While sales are down, the average price of a home here is over $1.2 million.

Vail Colorado Housing Stats for May 2008

Land Title just released the May housing statistics for Eagle County Colorado. May was the second slowest month on record since 1996 and showed total sales off 47% for the month from 2007. The data may even paint a rosier picture than we think due to the 13 Arrabelle units that closed in May which had been under contract for a few years. The average sales price of a single family home in Eagle County is now $1,281,245 and $1,135,939 for a multi-family, and $484,000 for a vacant residential lot. There are currently 1607 residential listings with over half of those at above $1million and only 10% below $400,000.

Vail April 2008 Housing Statistics

According to Land Title of Vail's monthly analysis of the housing market, April sales were down to just 59% of the April 2007 sales volume. April saw 117 total transactions. The summer is typically a strong season for home sellers, so everyone will anxiously be awaiting the most recent statistics. The average price of a single family home in the Vail Valley is now $1.6mm and the average price of a condo/townhouse is just over $1mm. Now is a great time for buyers to be searching for DEALS!

May Existing Home Sales Data

On a national level, May home sales showed an increase of 2% from April's numbers but are still down 15.9% from May of 2007. The Existing-home sales statistics are released on or about the 25th of each month and are considered an important indicator of the national housing picture. According to Walter Moloney at the National Association of Realtors "The national median existing-home price for all housing types was $208,600 in May, down 6.3 percent from a year ago when the median was $222,700.The average price of a home increased in May with buyers responding to lower home prices, according to the National Association of Realtors®." Saavy buyers are starting to take advantage of opportunities in the market, and summer is often one of the strongest seasons for real estate transactions.