Vail-BeaverCreek Real Estate Update
Karen Wilhelm, MBA, MRE, CRS, GRI
Prudential Colorado Properties - - - Vail, Colorado
March 2008 Newsletter
www.Vail-BeaverCreek.com
Eagle County Market Overview
 

2007 was a record year but 2008 is off to a leisurely start.
Eagle County real estate sales reached nearly $3 billion in 2007 surpassing the previous record set in 2005 by more than $160 million. While dollar volume reached an all time high, the overall number of transactions were 2,688, the lowest since 2003.

  • Area real estate in January is off to a slow start with 104 transactions, the lowest month since 1996, the year that Land Title Guarantee started tracking the market statistics. The total sales volume for the county was just over $124 million, the lowest in four years. High-end sales remain strong with 6 transactions over $4 million. The highest transaction in January was in the Gypsum area on Colorado River Road for $9.6 million.
  • High-end transactions brought the average residential sales price to $1.3 million to start the year with 37% of the months transactions over $1 million. The median transaction price on improved residential property increased from a 2007 year-end of $699,900 to $733,950 in January.
  • Inventory levels are high compared to those of the past three years and as a result we have witnessed numerous price adjustments. However, as you can see from the Supply and Demand Chart below, properties are still selling.
  • See ... Land Title Guarantee Company Four Year Market Analysis


    • Supply and Demand Report ... 03/01/2007 to 02/29/2008
      Active Listings Pending Sales Sold Listings Average Sold Price Sales to List Months of Inventory
    Condo 810 360 519 $1,089,088 98% 11.1
    Single Family 453 59 442 $1,674,716 95% 10.9
    Duplex 169 17 219 $1,699,382 97% 8.6
    Townhome 119 25 178 $950,094 95% 7.0
    This table reflects real estate activity from the Vail MLS for all of Eagle County.
    Supply & Demand Reports for individual areas


    Vail Resorts Offers new unrestricted unlimited "Epic Season Pass" for $579.
      New for the 08-09 season, The Epic Season Pass offers unrestricted and unlimited access to five of the best resorts in the world.
  • Pass price is $579.
  • Sales of the Epic Pass are being offered now through November 15th, but Vail Resorts may suspend sales earlier then that.
  • Read about it and purchase online ... Epic Pass
  • The restricted Colorado Pass will still be offered; pricing and details of that pass will be available April 2nd. It will still have the blackout day restrictions, unlimited skiing at Keystone and Breckenridge, and 10 days at Vail.


    • New Developments in the Vail - Beaver Creek area
      Denver Post article ...
  • Vails Redevelopment - $2B in private & public funding (and growing)
    New construction and redevelopment projects in progress in the Vail Valley ...
  • Developments listed by area - current information


    • Search ALL Vail Valley MLS LISTINGS at Vail-BeaverCreek.com
     

    Oue website has been redesigned for easier navigation when browsing through active listings. Perform your own property search in the Vail Valley using the entire active Vail Board of Realtors MLS database on "your" schedule (24x7).

  • MLS Search


    • Auto Notification Service Available on Vail MLS System
     

    A very popular service exists in our Vail Board of Realtors MLS system that allows the automatic generation of an email message with a link to a new property offering. I would set up the specific criteria that you have by area, property type, number of bedrooms and price range. When a property comes on the market that matches this criteria you would receive email notification that same day. If this service is of interest to you send me an email with your search criteria.


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