Eagle County real estate surpasses $2,000,000,000 in total dollar volume yer to date. Transactions are slightly up over last year with 1,961 sales year to date. From East Vail to Beaver creek and on down the valley, real estate sales continue to be strong. There were 2 sales in November that sold for over $5M: a home in Bachelor Gulch and an Arrabelle condo in Lionshead that sold for $2,373 per square foot. With the addition of these 2 sales, 2018 had a total of 46 residential properties with a price tag of $5M and above. Multifamily homes have seen great appreciation throughout Eagle County in 2018. The average sales prices have increased 15% to $1,033,836; the PPSF has increased 12%.
Unemployment rates remained remarkably low again in 2018, and wages continued to improve for many U.S. households. It is generally good for all parties involved in real estate transactions when wages grow, but the percentage of increase, on average, has not kept pace with home price increases. This created an affordability crux in the second half of 2018. Housing
affordability will remain an important story line in 2019.
What does this all mean for the Vail valley? If you are looking to sell, the market is favorable for you as we see low inventory right now and prices are good for Sellers. I always encourage people to do upgrades to their homes when they buy so that when they do sell, Realtors and Buyers will see the value in the increased pricing. If you just buy and sit on the investment, you may not see as great a return. Properties like this do present a buying opportunity in the valley as there is room for price negotiation and possible value to the buyer. I would love to help you find your perfect home or sell your property. There are a lot of details involved in both transactions and I have the expertise to help you with all your real estate needs. Call me, Jon Lindner at 970-331-6111. www.BuyColoradoRealty.com. jonka1@comcast.net.