Vail Valley real estate: March sales numbers rise, transactions fall
Vail, CO, Colorado
Land Title Guaranty Company’s monthly sales report for March is out, and paints a good news/bad news story of the Vail Valley real estate scene.
The good news is that March real estate sales topped $59 million, the best performance so far this year. The bad news is that just 44 sales closed, the lowest on record.
The average sale price for the month of March was more than $1.3 million. There were three sales of more than $5 million, including an Arrabelle unit selling for $9.15 million. Units in Cordillera Valley Club and a Village Walk were purchased for $6.1 million.
Properties sold for less than $500,000 have historically seen the most transactions, but through the first three months of this year, the price range between $500,000 and $1 million has been the most active, with 33 percent of all transactions. Properties selling for more than $2 million have accounted for nearly 55 percent of the total dollar volume.
Vail Village has seen the most activity through the first three months of the year with 25 transactions and Eagle is second with 19. However, the most sales in the county in March ” seven ” were in Eagle. There was just one sale in Gypsum.
Land Title’s survey divides the county in 31 areas. In the first quarter, just four areas out of the 31 have 10 or more sales.
Town weighs its long-term viability vs. small-town character