Eagle County real estate sales go mostly to local buyers
November 5, 2013
EAGLE COUNTY — Local residents bought nearly six of every 10 homes sold in Eagle County in August. That goes a long way toward explaining why an almost identical percentage of homes that sold were priced at $500,000 or less.
The latest data on real estate sales from Land Title Guarantee Co. shows that county-based buyers have purchased 56 percent of all the real estate sold this year through August. Front Range buyers account for 14 percent of the total so far this year, while out-of-state buyers account for 29 percent of all sales. Through August, international buyers accounted for 16 sales — 1 percent of the year-to-date total.
More sales, less money
The monthly Land Title report shows a continuation of a trend that's lasted throughout the year — more transactions for less total money, with high-end home sales lagging last year's pace. July and August accounted for the most single-month sales so far this year, and transactions so far are running 18 percent above the pace set in 2012. While there have been more sales, the "dollar volume" — the amount of those sales, is 96 percent of the 2012 total.
While the $500,000 and less market is active this year, the number of bank sales has dropped from 2012's numbers. Last year, nearly 20 percent of all home sales were bank sales. So far this year, bank sales account for 12.6 percent of all transactions.
Looking at the breakdown — which doesn't break down by price — there were 88 sales in Minturn, Red Cliff, Eagle-Vail, Avon, Edwards, Homestead, Eagle and Gypsum. Throw in another 18 sales in Basalt, El Jebel and "in county," and you have the bulk of the 151 residential sales in August.
While sales of $1 million or more were far less numerous, they again accounted for the bulk of the month's dollar volume. For instance, there were just two sales of $5 million or more in August, but those transactions accounted for 12 percent of the month's dollar volume.