Real estate has best month of year in Vail Valley
VAIL VALLEY, Colorado – September was the best month for real estate sales in Colorado’s Vail Valley so far this year, but the totals still lag far behind last year’s numbers.
Land Title Guarantee Company’s monthly report of local real estate transactions shows that sales in September topped 100 for the first time this year, with 123 total sales. That’s nearly triple the sales recorded in March – 44. Sales have risen for three consecutive months.
But the local real estate business is still as slow as it’s been in years. Sales for the last three months of the year are just 54 percent of last year’s total through the end of September, and the dollar volume so far this year is only 38 percent of last year’s numbers.
In fact, the local real estate market would have to have another three months of dollar volume better than September for the total to top $1 billion. Last year’s sales volume was more than $2.2 billion, and sales volume in 2007 was more than $2.9 billion.
The largest single sale in September was $5.4 million for a home on Gore Creek Place in Vail. There were three sales of more than $4 million. The average sale price was $819,889.
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Despite the high-dollar sales, property priced below $1 million made up 75 percent of the sales in September. Most of those sales – 17 – were in Eagle. For the year, there have been 94 sales in Eagle.