Vail Valley Real Estate Holds Steady to Start 2018
The Vail Valley real estate market continues its pace from 2017 after seeing a slight increase in residential unit sales and a 12.5% increase in dollar volume last year. We are entering a very busy season where new inventory will come to market and that should attract more buyers who are waiting on the sidelines for opportunities to purchase.
Year-to-date the residential market is off by one unit sale (e.g. flat) and down 2.3% compared to a year ago. This can be attributed to inventory levels that are off by about 13% compared to this time last year. That inventory decline also correlates to lower numbers of contracts as the two generally go hand-in-hand.
Geographically, areas of strength are the core areas of Vail, Beaver Creek Resort and the valley floor west to Edwards. Sales are off a bit in Eagle and the Gypsum area, solely because of low inventory levels. New construction opportunities that will be complete over the next several months should change those numbers. In terms of price segments, $700,000 – $2,000,000 is up for the year and with new properties coming to market in the off-season that trend should continue.
Opportunity awaits both buyers and sellers this spring. Please contact me to learn more about your specific area of interest.