Eagle County real estate sales up in first quarter | VailDaily.com

Eagle County real estate sales up in first quarter

EAGLE COUNTY, Colorado – March real estate activity in Eagle County was something of a mixed bag. The number of transactions was up, but the dollar volume was just about even with the same period last year.

According to the latest information from Land Title Guarantee Company, there were129 sales in March, the most since October 2008. For the last 29 months, Eagle County has averaged 92 transactions per month. And the sales volume of almost $132 million was the fourth-highest total in the last 27 months.

For the first quarter, the number of transactions is up, to 301 sales versus the 276 sales in the same period last year. But dollar volume on those sales is $300 million, an $18 million drop from last year.

According to the Land Title report, there are two big drivers in the local market now. Dollar volume – nearly 40 percent of the total – is coming from the high end of the market, sales of $4 million or more. There were only five such sales in March, and the top price was $10.3 million. The highest prices per square foot were recorded at Solaris.

But half of all transactions were properties selling for $500,000 or less. Eagle and Gypsum together accounted for 53 percent of all sales so far this year. The average price in Eagle is $377,000; in Gypsum, the average prices is just less than $250,000.

-Through the first quarter of 2011, there have been 54 sales of bank-owned properties in the county, nearly one of every five sales.