November 4, 2011

The below statistics represent another strong month of real estate activity between East and West Vail as we approach the winter. October, like September, showcased a higher number of closings and homes going under contract compared to any other month this past spring, summer and fall. This is a typical trend that we see throughout the Vail Valley’s real estate market as more buyers tend to wait to engage sellers at the end of a selling season in hopes of getting a better deal and having something to use for the upcoming winter.

Closings

1. 21 Closings

2. Price Range: $230,000(1 Bedroom Pitkin Creek Park Condo - East Vail) to $9,250,000(5 Bedroom Vail Golf Course Duplex)

3. Notes and Highlights

     a. 10 closings were over $1,000,000

               i. 3 of these were over $5,000,000

     b. Ritz-Carlton Residence #3 closed(3 bedroom south facing terrace residence). This brings total sales in the building to 30 out of 71.

     c. Founders Parking Space closed for $230,000

     d. Average percentage of Sales Price vs. Listing Price is 92% *This statistic again shows that when homes are priced correctly they have a much better chance of selling.

4. Vail and Lionshead Village Price per Square Foot: $976/sq.ft.(2 bedroom Mountain Haus Residence - Vail Village) to $2,016/sq.ft.(4 bedroom Duplex in Vail Village)

*See below Spreadsheet link for more details

Under Contract

1. 15 residential homes went under contract

2. Price Range: $295,000(2 bedroom Pine Ridge - West Vail) to $2,995,000(2 bedroom plus den Ritz-Carlton Residence- Lionshead Village)

3. Notes and Highlights

     a. 8 of the 15 were listed for over $1,000,000

     b. Ritz-Carlton Residence #217 is under contract. 

4. Vail and Lionshead Village Price per Square Foot: $1,035/sq.ft(2 bedroom Montaneros Condo - Lionshead) to $1,596/sq.ft.(3 bedroom Village Center Condo - Vail Village)

*See below Spreadsheet link for more details

Attachments:

October - Sold.pdf	[Sold (October 2011) - East Vail to West Vail]	196 Kb
October - Under Contract.pdf	[Under Contract (October 2011) - East Vail to West Vail]	190 Kb