Strong Q1 Real Estate Sales Activity Valley Wide
The first quarter of 2017 was the strongest for Vail real estate unit sales and dollar volume since 2008. In all price-points above $300,000 there were gains, most notably in the mid and down valley markets and also the luxury market ($5m and up, highlighted by the January sale of 107 Rockledge Road for $23m). You can click here for a full Market Trend Report. Compared to a year ago at this time, inventory is down approximately 10% throughout the valley, while contracts are up 6.5%. In many price ranges and areas, buyers are active and if properties are priced to the market they are sold quickly and for close-to or even above asking prices. The speed of the market is due to pricing properties correctly. Although the Vail real estate market is healthy, buyers remain focused on market value – meaning sellers who test the market and price above it may lose qualified buyers and spend unnecessary time on the market. For more information about the first quarter numbers or your specific property, please contact me.