The agents at Sonnenalp Real Estate know the Vail real estate market better than anyone. We pay close attention to the stats and trends affecting our market so that we can accurately price listings and guide buyers towards a great Vail Colorado real estate purchase. When you work with the brokers at Sonnenalp Real Estate, you can expect an experienced and knowledgeable real estate professional. We strive to keep buyers and sellers informed and in the know on what is happening in the Vail real estate marketplace. For up-to-date Vail market information and a detailed real estate report, please see the the following most up to date report:
Eagle County real estate finishes 2011 strong
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. As you can see from the graph below, Eagle County is at 2006 average price levels. 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. Below is 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?" I've broken this down to show exactly where buyers are coming from. 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. 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. Below is a chart breaking down the sales of each of these projects. Click here to access the Developments Chart.
Price Per Square Foot (PPSF) / Average Residential Sales Price:
The following report shows the price per square foot for single family, multifamily and residential vacant land for each area throughout Eagle County. The single family PPSF has fallen county wide by 20% to $255 PPSF since last year while multifamily homes decreased just 9% to $481 PPSF over 2010.
Single family homes in the Cascade/Glen Lyon area saw the greatest PPSF increase at 50% while Minturn saw a 47% decline. Vail Village boasts the highest PPSF for both single family homes at $1,742 and multifamily homes at $1,486.
Bachelor Gulch has the highest average sales price for single family homes at $7.7 million, an increase of 37% over 2010. Beaver Creek multifamily homes had the largest PPSF decrease of 29%, bringing the average sales price to $1.3 million. Click here to access the Residential PPSF / Average Sales Price Report.
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.
Click Here for the Detailed Market Report
970-477-5300 | 866-477-5603
- Sonnenalp Real Esate
-
- 242 East Meadow Drive Suite D
- Vail, CO, 81657
- (970) 477-5300