The Real Estate Market finished strong in 2016 according to Land Title Guarantee Company. There were 2,048 sales in 2016 which was a 1% decline from 2015. The total sales volume was $1,957 billion which was also a 1% decline from 2015. Eagle County has not exceeded $2 billion in a year since 2008.
Inventory remains fairly low especially in the price of $1 million or less and most buyers are local residents. There is roughly a 6 month inventory in the $1 million or less priced homes which is a sign of a balanced market. The most expensive home sold in Vail for $23 million which closed in January. It was on the market for approximately 2 years. The highest priced overall sale was $121 million which was the Four Seasons Vail. The average price of a residential sale in Eagle County was $970,184. Vail Village had the highest price per square foot for a single family home at $1,786 and the state with the most buyers came from Texas.
For more information on real estate in the Vail Valley please feel free to call me: Betsy Randall at (970) 401-3011 or visit our website: www.gatewaytovail.com.