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June 6, 2012
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Real estate sales surge in April

EAGLE COUNTY, Colorado - Real estate sales in April were the best so far this year, and, in sales volume, the best for the county since November of last year.

According to the most recent numbers from Land Title Guarantee Co., there were 135 completed real estate sales in April, for a total value of $124.4 million. Both those numbers are significantly higher than those recorded in April of last year.

As has been the case for some time, sales of $1 million or less made up most of the sales - nearly 75 percent. Meanwhile, just four sales of high-end property accounted for more sales volume than all the sub-$1 million units combined.

Bank-owned property continued to account for a significant part of the overall sales picture in April, with 25 units sold. There have been 81 sales of bank-owned units so far this year.

Eagle and Gypsum also accounted for a good portion of transactions, with 32 sales in April. The average sales price for the two towns was $212,500, with Gypsum recording the lowest average price, at just less than $183,000. The dollar volume from all those sales was less than $7 million.

Vail Village, meanwhile, accounted for more than $38 million of April's sales volume, with an average sale price of just more than $3.5 million. And there were actually more sales - 33 - in the valley's resort centers of Vail Village, Lionshead, Beaver Creek, Bachelor Gulch and Arrowhead than there were in Eagle and Gypsum.

And total transactions for 2012 so far are coming close to the number of sales in 2008, the last year of the valley's last real estate boom - this year's transactions are only 16 percent off the number from 2008. The difference is sales volume, which is much, much lower. This year's sales volume so far is less than 60 percent of the volume recorded in the first four months of 2008.

Business Editor Scott N. Miller can be reached at 970-748-2930 or smiller@vaildaily.com.


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The VailDaily Updated Jun 13, 2012 05:30PM Published Jun 6, 2012 01:47AM Copyright 2012 The VailDaily. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.