As of the year-end 2023, the Eagle County real estate market experienced notable shifts when compared to the previous year, as reflected in key metrics from the Eagle County MLS.
Total Closings:
- The total number of closings in 2023 witnessed a significant 21% decline, totaling 940, compared to the 1,192 closings recorded in 2022.
Average Sold Price Per Square Foot:
- A noteworthy positive trend emerged in the average sold price per square foot, showcasing a 13% increase. In 2023, the average sold price per square foot reached $970, compared to $852 in 2022.
Days on the Market:
- The average days on the market experienced a substantial shift, rising by an impressive 75%. In 2023, properties spent an average of 70 days on the market, contrasting with the 40 days recorded in 2022.
Average Sold Price of Residential Properties:
- The average sold price of residential properties in 2023 marked a 10% increase, reaching $2,314,031. This is compared to the average sold price of $2,086,497 in 2022.
The 2023 Eagle County real estate market displayed a reduction in total closings, a significant increase in average sold price per square foot, a notable rise in days on the market, and a positive uptick in the average sold price of residential properties. These shifts suggest a dynamic and evolving market, influencing buyer and seller behavior in the region.
Title Company of the Rockies provides real-time market profiles for specific areas in Eagle County. Check out their extensive market insight here and see below for an example of the graphic in Vail’s market.
