May real estate sales strong in Eagle County
July 9, 2013
EAGLE COUNTY — The slow climb from the depths of 2009 continues for the local real estate market.
The latest figures from Land Title Guarantee Co. show transactions continuing to increase over the past few years. There were 621 sales through the end of May, a 9 percent increase from 2012, and it's the fourth straight year of increasing sales.
Dollar volume — the sale price of that real estate — is a slightly different story. Volume so far this year is just more than $497 million, a 12 percent decline from the same time in 2012. That means the Eagle County market still lags behind the feverish pace set in some Denver-area neighborhoods.
Besides the good news of more sales, the latest numbers also show a decline in the sale of bank-owned property — real estate acquired by lenders through foreclosures or owners giving back the units. Bank sales accounted for nearly 20 percent of all sales in 2012. That percentage has fallen to 10.5 percent so far in 2013.
And, as usual, a handful of high-end sales make up much of the dollar volume in the county. In May, there were 101 sales of $1 million or less, all of which added up to about $37.9 million. There were 10 sales of $3 million or more — including the most expensive sale of the month, $5.9 million in Vail Village — for $41.3 million.
Buyers from Eagle County (86) and the Front Range (13), accounted for most of the sales in May. Four transactions involving international buyers were completed in the month. For the year so far, international buyers make up just 2 percent of the total sales.
Vail Daily Business Editor Scott Miller can be reached at 970-748-2939 or at email@example.com.