Fall is officially upon us! The leaves have turned, the weather is cooling and we’re breaking out the cozy sweaters. The biggest news this month? The record low inventory! As of October 4th, there are only 486 active residential properties on the market. Just to give it some perspective, our “low inventory” typically hovers between 600-700 properties. Now, more than ever, if you are thinking about property in the Vail Valley, call me because I often know about listings before they come to the market!
“Andie – with the market so robust right now, should I wait to buy?”
Many people have been asking me if this is a time to wait to purchase? To be honest with you, I don’t foresee a downturn in this market anytime soon for a couple of reasons.
People across the country are re-evaluating their work/life balance right now and we’re seeing more and more buyers from other states decide that it’s time for a change of scenery *literally*. Remote working options are booming! Due to COVID, employers and employees alike are learning that it’s absolutely possible to be productive while working remotely. The necessity for a brick and mortar office space is lessening, while the necessity for a home office is rapidly growing.
UNDER CONTRACT UDPATE
The first month of fall produced another record amount of new contracts with $448,552,373 worth of property going under contract which equates to 266 homes. Compare that to September of 2019 where 124 properties went under contract for $135,906,849. That is a $312.6M increase in dollar volume and a 115% increase in transactions. The average list price for homes that went under contract last month dropped from $2.1M down to $1.6M, which is a change from the trend we’ve seen over the past couple of months.
SOLD PROPERTY UPDATE
The amount of sold volume was also significantly higher compared to September of last year. This September, 218 properties sold for over $462M with an average sold price of $2,121,851 (a 62% increase from the average sold price last year). In September of 2019, there were 151 properties sold for just over $209,025,386M. That is a $253.5M increase in dollar volume and a 44% increase in transactions. I expect to see these upward trends as long as the demand continues to skyrocket, while inventory remains low.
Close To My Heart
Access Unbound’s mission is to transform and heal the lives of people with disabilities, or disabling conditions, through partner adaptive programs. These programs provide highly specialized instruction and equipment that allow people with disabilities–particularly those who may not qualify for other adaptive programs in Eagle County–to experience the immense pleasure, stimulation, and strength-building of winter mountain sports.
My daughter Jade has personally benefited from the programs through Access Unbound, which is why I’m so excited to share their latest fundraiser that is truly a WIN-WIN-WIN!
Shop, Save 20% and Support a Local Non-Profit!
The Access Card discount shopping program unites small businesses in Eagle County for a common cause: raising funds for Access Unbound, a local 501(c)(3) organization. Shoppers who purchase a card for $55 will receive a 20% discount at participating stores and restaurants from October 16-25, 2020, with 100% of card sales benefiting Access Unbound.
By purchasing the Access Card, you’ll both support Access Unbound’s mission to make a difference in the lives of people with disabilities and positively impact our local economy by shopping at the places you already love!
Find the list of participating businesses and purchase your Access Card today at
www.AU-AccessCard.org
Did You Miss It?
Last week, I went LIVE on Facebook and Instagram to do a couple of virtual open houses at my beautiful Vail listings! If you missed it live, you can check them out below.
Let me know which condo you like best!