July real estate exceeds 2009 levels | VailDaily.com

July real estate exceeds 2009 levels

Daily staff report
Vail, CO Colorado

EAGLE COUNTY, Colorado – Local real estate sales in July continued their bounceback from the depths of the 2009 market slump.

According to a report from Land Title Guarantee Company, there were 92 completed transactions in July, with a value of more than $88 million. Those numbers are far above 2009’s sales, when 75 transactions closed.

The 2010 numbers are an encouraging increase from last year, but still pale in comparison to the boom years. In 2007, there were 207 completed sales in July.

Vail Village was the main contributor to the dollar volume with more than 30 percent of the overall total. There were just seven transactions, but they had a value of more than $27 million. Four of those transactions were properties that sold for more than $5 million, including three Solaris units. Solaris now has sold a total of 12 units at an average sales price of $7.6 million.

While there was action at the upper reaches of the market, there were no sales in the price rance between $3.5 million and $5 million.

-Beyond the high-end properties, almost 75 percent of all transactions sold for less than $1 million in July. Almost 70 percent of the transactions for the year have fallen in the lower price ranges. However, 75 percent of the total dollar volume is accumulated through properties selling for more than $1 million.

Townhomes and condominiums have been the best-selling residential property in 2010, making up 57 percent of all transactions. These transactions have an average sales price of nearly $1.2 million, an increase of 29 percent over 2009.

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