February 2012 Market Update
2011 Eagle County Real Estate Review
Real estate in Eagle County ended the year with 136 transactions in December; the most since October, 2008. There were a total of 1,357 total transactions in 2011, 9% above 2010 and 45% above 2009. Total dollar volume for 2011, $1,158,048,856, was down 23% from 2010, which was $1,497,172,233. While the dollar volume was down from 2010, there was a sales increase of 29% over 2009. To put these numbers in perspective, the most transactions ever recorded in Eagle County was in 2005 with 4,023. Our highest dollar volume year was 2007 with $2,960,497,200 in sales.
The overall average sales price in 2011 was $857,858. After taking the appreciation and depreciation since 1987, we show an overall average appreciation of 7.71% each year. So figuratively, if you bought a home in Eagle County in 1987 for $100,000, that same home would hypothetically be valued at $594,490 today. Click here to access the Average Sales Price Graph.
The average sales price has decreased this year, 2011, as bank sales rose. Gypsum had the most bank-owned sales with 95 while Eagle had 73. The link below contains a graph showing where the bank-owned sales took place in 2011. Click here to access the following Bank-owned Sales Graph.
One question that arises fairly often is “Who is buying real estate in Eagle County?” Nearly 40% are locals currently living within Eagle County; another 22% are from within Colorado, which means almost 62% of all buyers purchasing real estate in Eagle County are from within Colorado. Texas is 3rd followed by Florida. International buyers accounted for 2% of the transactions. The link below shows a graph of the buyer profile purchasing real estate in Eagle County. Click here to access the Buyer Profile Summary Graph.
High-end properties (over $4 million) ended the year with 5 more transactions in December. The highest priced transaction sold in December was in Bachelor Gulch for $9.95 million. This sums up a fairly strong 2011 in the high-end market, with a total of 43 transactions (4%) over $4 million accounting for 28% of the total residential dollar volume.
Some of these high-end properties sold in one of the five newer developments in Vail and Avon; Solaris, Arrabelle, Ritz Carlton, Ascent and the Westin. The Ascent had the most sales with 40 while Solaris had the highest average sales price and price per square foot. Overall, these 5 projects accounted for 78 transactions and more than $143 million (12%) in dollar volume. The link below contains a chart breaking down the sales of each of these projects. Click here to access the Developments Chart.
Mountain Resort Reports:
How does Eagle County compare with the other mountain resorts towns in Pitkin, Garfield, Grand, Routt and Summit counties? Click here to view the Mountain Resort Report comparing values, transactions and volume along with historical trends.
10 Year Inventory Levels
Below are the detailed area market updates as of February 9th which you are accustomed to seeing plus the Eagle County Trends Reports:
Avon & Beaver Creek Market Update
Eagle County 15 Month Market Trends
Eagle County 10 Year Market Trends
As you know, the valley is very diverse and all areas, neighborhoods and pocket neighborhoods are performing differently. We hope the above information is helpful and do not hesitate to contact us for additional information, questions or concerns. You also have access to the Vail Board of Realtors MLS at www.eaglevalleyrealty.org. Click this link and the search is located on the right navigation. This information is updated daily and contains every active residential listing with detailed information, photos and videos of properties from Vail to Gypsum.
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