Springtime in the Rockies is a great time to be in the Vail Valley. There is still some great skiing at A basin and Breckenridge, all the golf courses are opening, all the hiking and biking trails are accessible, the GoPro games are coming to Vail and if you are looking to buy or sell in real estate, it is great time as we see our spring season move into our summer season filled with lots of market activity. If you have any interest in real estate in the Vail Valley, please call me, Jon Lindner at 970-331-6111. You will receive dedicated personal service that is second to none.
Some of the latest numbers tell a story of a slight decrease in activity in the real estate market. But, I expect this to change dramatically as we get into our summer months of June, July and August. Generally, I show a lot of property all winter to interested people. They are usually out her in Vail skiing, vacationing and enjoying themselves. I find when the winter ski season is over, people get serious and are ready to pull the trigger on listing their home, buying up or buying here for the first time. That time is now. Here are the latest figures.
Vail Valley Real Estate Numbers/ Spring 2019
Eagle County real estate is again slower in March than last year in both dollar volume and transactions. Total dollar volume for the month was $165,163,035, down 17%, and transactions were the highest of the year at 132, but down 21% compared to March of 2018.
While both dollar volume and transactions are down year to date, the overall average sales price is up year to date to $1,179,763. A large contributing factor to the higher average prices are the 12 residential sales over $5M in the first quarter of 2019.
One of the areas that had a great month of March was Vail Village. There were 10 sales totaling nearly $34M ($3.37M avg. price). Avon was also strong with 12 sales and Gypsum had the most transactions in Eagle County with 20.
Throughout Eagle County, the price per square foot for single family/duplexes have gone up 8% year to date over 2018 and multifamily homes have gone up 6%. You can see this breakdown on page 13 of the March Market Analysis
Click on the link below for the latest numbers on the real estate market:
April 2019/ Vail Valley
New Listings were up 18.1 percent for the Single Family-Duplex category but decreased 20.5 percent for the Townhouse-Condo category. Pending Sales
increased 15.8 percent for Single Family-Duplex and 8.1 percent for TownhouseCondo. The Median Sales Price was up 20.1 percent to $997,000 for the Single FamilyDuplex category and 4.5 percent to $679,000 for the Townhouse-Condo category. Days on Market increased 35.7 percent for single family homes and 75.4 percent for townhouse-condo properties.
The national unemployment rate dropped to 3.6 percent during April 2019, the lowest level since 1969. A historically low unemployment rate can provide reassurance to wary consumers. But in order for sales to increase on a grand scale, buyers will need more spending power, or sellers will need to reduce prices to land where buyers are most active. Neither situation is likely to occur in 2019, yet inventory is straining to keep pace in the most competitive price ranges.
In conclusion, I would like to invite you all to visit the Vail Valley. I truly think it is one of the best places to be in all of Colorado. If you like to ride the whitewater coming down the rivers in May, charge the mountain on bike or foot, climb the highest peaks you can find, sit back and enjoy the mountain views and fresh air with a cool cocktail and some amazing food at one of our 108 fine dining establishments and enjoy one of the finest ways to live, then the Vail Valley is for you.
If you or anyone you know needs real estate services in Colorado, please contact me, Jon Lindner at 970-331-6111 or email me for a FREE no obligation market analysis at Jonka1@comcast.net.