4th Quarter highlights from the Economic Council | VailDaily.com

4th Quarter highlights from the Economic Council

Economic Council of Eagle County

Real estate sales and transactions in the 4th quarter of 2007 were down compared with previous years. However, 2007 was a record real estate year for Eagle County reporting $2.96 billion in sales. The average price for all real estate transactions in Eagle County was $1.1 million, nearly 25% over the 2006 average.The number of building permits issued dropped in 2007 when compared with 2006 by 18% and 4.6% in the towns and the county respectively. All the towns and the county reported a drop in permit valuations in 2007.State sales tax collections, were up in Eagle County and the Town of Vail. The Town of Gypsum saw a 45.5% state sales tax increase in 2007 when compared with 2006. Red Cliff saw a 21.4% increase. Eagle County’s unemployment rate in the 4th quarter of 2007 held steady around 3%, indicating virtual full employment. Colorado state unemployment increased to almost 4.5% during the same period.Increases in plane traffic during October and November caused growth overall for the fourth quarter 2007. Enplanements in December were actually down: 23,478 in 2007 compared to 25,104 in 2006 and 23,652 in 2005.Among neighboring resort Counties, Eagle County collected the most state sales tax, $39 million and was second in ownership tax per registered vehicle ($138 per vehicle to Pitkin County’s $153.)To view or download the entire Quarterly Report: 4th Quarter 2007, use our ‘Resource Center’ quick link to access our ‘Data, Reports, and Tools’ folder. http://www.economiccouncil.biz/doc/toc.asp?assn_id=12818&link_id=78670

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