Spring time in the Rockies is officially here. This month so far has been filled with sun with a tease of summer around the corner and then Mother Nature reminds us the ski mountain just closed a month ago by bringing cold air with a mix of snow. The good news is everything is greening up quickly and golfing is already in full swing, literally!
What keeps coming up in the headlines and talk for the local real estate news is how sales are continuing to pick up, yet inventory remains low. In fact, the Vail Daily local newspaper cover page Sunday was “Sales strong, inventory low” – “Local real estate values are rising, but there’s little evidence of new market bubble, brokers say”.
Here are a few current Stats: There is a 22.1% decline of all active property listings in the Vail Board of Realtors MLS over the past year. There is a 3.1% increase in the median sales price of all property in Eagle County. There were 153 total closed sales in Eagle County with 110 of the closings being residential real estate. Currently there are 710 active residential listings and 275 residential units which are under contract. We are also starting to see an increase in activity for the higher end price point of $5,000,000 since April 1st. Currently there are ten properties under contract in this price range, three of which are listed at $10,000,000 and above. Seven homes $5,000,000 and above have closed including with the highest price closing price of $13,500,000.