The summer selling season has begun with a rise of inventory throughout the valley. Inventory levels bottomed in early May at 832 residential listings available for sale – this is a 54% reduction in available inventory from the recession-era peak of 1,810. While inventory has been going down steadily, activity has been mixed throughout the area with the middle portion of the valley, Wolcott to Eagle Vail experiencing the highest amount of unit sales and an increased dollar volume. Unit sales in Vail and Beaver Creek have been steady but dollar volume is off approximately 33% compared to 2012 while in Eagle and Gypsum dollar volume has increased more than 22% year-to-date.
The market is indicating that there is true momentum in the mid-valley and Eagle and Gypsum while the resorts are still trying to find their footing from the busy 4th quarter of 2012 (which may explain the larger than average discrepancy in dollar volume). That said, it has never been more true that “all real estate is local” and when buying or selling in this market, be sure to understand your market of interest because it is likely different even from a neighboring community.
It remains a very good time to buy and sell here in the Vail Valley. Buyer interest is high and complemented by favorable interest rates for borrowers and a replenished inventory supply that should increase through Late July/early August. For sellers, pricing remains paramount to selling quickly and for the highest price. Our summer market is a time when homes shine and interest is high!
