December 7, 2011
High Transaction Numbers during the months of September and October
General Trend:
High real estate sales volume in both the months of September and October as we end another summer/fall selling season and approach another winter season. We usually see high sales volume during these times as more buyers become engaged in making offers in hopes of one, dealing with a seller who really doesn't want to carry their property into the winter and therefore might be more negotiable, and two, buyers wanting to have a place to call home and use during the winter ski season.
As Land Title's report indicates below, Vail Village real estate sales have accounted for a substantial amount of the dollar volume in Eagle County's overall year to date numbers. A large part of this dollar volume comes from the 16 sales that have taken place at the Ritz-Carlton Residences, Vail since January 1, 2011. These sales have been accomplished through proper market pricing followed by Vail Resorts(developer and seller) strong willingness to negotiate and provide purchase incentives.
Land Title's Report:
October had the second highest number of transactions for any month this year, 130, only exceeded by September. This brings the year to date total for transactions to 1,100, 6% above last year’s volume through the same time period. While the majority of these transactions were under $500,000, 51%; more than 10% of the transactions have sold for more than $2 million.
Eagle and Gypsum continue to account for the majority of all transactions in October with 17 and 13 transactions respectively, followed closely by Avon with 11 and East Vail with 9 sales.
Year to date through October Vail Village has produced 40% more dollar volume, over $145 million, than any other area in Eagle County while their 49 transactions are the fifth highest in the county creating an average sales price of $2,959,700. The average price per square foot for a single family home in Vail Village has gone up 31% over last year to $1,764.
The Eagle County price per square foot average for single family homes has gone down 23% compared to 2010.
Bank sales continue to impact our market with 18 more sales in October, bringing the total to 243 transactions year to date through October.
October Highlights:
- Vail Village averaged $3,600,217 per sale over 6 transactions
- Eagle had the most transactions at 17
- 51% of the transactions were single family homes.
** See attachment to view Land Title's full number report
 1011LandTitlesMarketAnalysis.pdf | [ ] | 147 Kb |
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