July real estate sales up 25 percent
September 11, 2012
EAGLE COUNTY, Colorado – July was the best month for real estate transactions since 2008, as the valley’s real estate market continues its slow recovery from the market collapse of 2009.
According to the latest monthly report from Land Title Guarantee Co., July real estate transactions were up 25 percent over July of last year. Year-to-date sales are up 13 percent from 2011. Total dollar volume for July was up 50 percent from the same month in 2011, although it was the lowest volume month of the year.
As is usually the case, most transactions – 82 percent in July – were for $1 million or less, with relatively few high-end sales boosting the dollar volume numbers.
There were 41 sales in Eagle and Gypsum in July, with several short and bank-owned sales. Those relatively low prices pushed the average sale price to just less than $642,000.
Meanwhile, just five sales in Beaver Creek accounted for 12 percent of the $73.8 million in sales volume in July. The valley’s single biggest sale – a $5.75 million unit at the Arrabelle in Vail – accounted for nearly 8 percent of the total sales volume.
For the year so far, 47 sales in Vail Village – less than 6 percent of the total for the year – have accounted for 19 percent of the valley’s sales volume for 2012.