Most buyers come from inside state
March 11, 2013
EAGLE COUNTY, Colorado – Trevor Theelke at Land Title Guarantee Co. every month sends out a snapshot of the local real estate market. Now there’s a bit more detail in that photo.
Theelke’s latest report – which covers activity in January – includes familiar information information about what’s been sold and how much money has changed hands. But this month’s report also breaks down the location of those buyers. For January, at least, the vast majority of sales have come from inside Eagle County and Colorado. In January, buyers in 68 of the 97 completed real estate sales were either Eagle County or Colorado residents. Of the remaining 29 buyers, only two were from outside the United States.
Looking at where most sales took place and for how much, it’s easy to understand the predominance of local and state buyers. Avon, Edwards, Eagle and Gypsum accounted for 42 of all the January sales in the county. In addition, most sales were for $1 million or less. In fact, sales of $500,000 and less accounted for 56 percent of all the transactions.
The county’s 21 sales of bank-owned property fell into the under $1 million range, with an average sale price of just more than $246,000. A relative handful of deals boosted the county’s average sale price in January to $630,000. There were fewer than 20 sales of $1 million or more, and the top sale in January was just less than $3 million. The monthly report usually has at least one sale for more than that.
The January average was down from the 2012 average sale price of $886,000 for all real estate. For single family homes, the average price in 2012 was just more than $1 million. In January of this year, the average single-family home sold for just less than $779,000.
For all sales, January’s totals were higher than the historic lows set in 2009, but still well off the pace set in 2010, ’11, and ’12.
Business Editor Scott N. Miller can be reached at 970-748-2930 or firstname.lastname@example.org.