The Vail Valley real estate market total volume in December was the highest month since 2007 with $252,756,183. This brings the year end real estate sales total to $1.779 billion. This volume represents the highest yearly total since 2008. Certain parts of the market are back to price levels we saw at the top of the market in the highest end luxury market and newer construction. Some areas of the market are still not near their highest levels and tend to be older properties that are not in the heart of Vail Village and Lionshead. Much of December’s volume is represented by 2 sales; a Vail Village single family home, which sold for $18.5 million, and an Avon commercial property. Combined these 2 properties sold for $74 million. I am happy to report that since March of 2014, when I began my full-time real estate career, I have sold or pending over $30 million dollars in sales volume. I have a passion for the real estate market and marketing at the highest level.
Transactions levels were also strong with a total of 1,802 for 2014; also the highest since 2007 at which time there were 2,688.
Here is a year in review by the numbers for 2014:
Total number of residential transactions that sold over $5 million – 35
Total number for residential transactions that sold under $500,000 – 662
The highest overall sale of 2014 (Avon commercial property) – $55.5M
Percent of sales purchases from local buyers – 52%
Percent of sales purchases from out of state buyers – 31%
Total volume increase over 2013 – 27%
Total transactions increase over 2013 – 2%
Total commercial sales volume – $178,919,800
Increase in average sales price of residential properties sold from 2013 to 2014 – 16%
Largest increase in transactions of an area over last year’s number (Buffer Creek/Vail Das Shone area) -145%
Percentage DROP in bank sales this year over last year (155 in 2013 to 72 in 2014) – 54%
Number of transactions over $3M in 2014 vs. 2013 – 24 more in 2014
The average price of a multi-family home in Lionshead; a 37% increase over 2013 – $2,271,190
These reports are a combination of reports compiled by Land Title Guarantee Company (which uses unofficial Eagle County Statistics) and reports from LIV Sotheby’s International Realty (which uses Vail Multi Listing Data from the Vail Board of Realtors). Both sources are very useful as they present differently in their format and how they group the data and one or the other format may appeal to you. Hopefully in reading through you get a good feel for the market that you are interested in following.
Click below for the full report, Vail Valley Real Estate Market Year In Review 2014
Malia Cox Nobrega Luxury Real Estate Broker Vail Valley, Colorado