Vail Valley real estate sales pick up in July
Vail, CO, Colorado
EAGLE COUNTY ” It was a very good July in the Eagle County real estate business.
Land Title Guarantee Company’s July figures on transactions and dollar volume show that the number of sales is still lagging behind last year’s levels ” and way behind the watershed year of 2005 ” but the sales prices of the units that sold was up over last year’s figures. That marked the first month in the nine months the total sales volume was up over the previous year.
July sales this year totaled $243.4 million, 28 percent above the $190 million in sales for July of 2007.
Most of that dollar volume was generated by units that sold for $2 million or more. The high-end sales accounted for nearly 70 percent of the dollar volume, while accounting for about one-fourth of total sales. Most of the dollar volume came out of Lionshead, while Bachelor Gulch had three sales that averaged more than $5.1 million.
The high-dollar sales pushed the average transaction price to more than $1.5 million, while the median price ” the point at which half of all sales are less and half are more ” was $655,000. Most of the sales ” 58 percent ” were units that sold for $1 million or less.
Of all the sales, the most active areas were Eagle/Gypsum and Basalt/El Jebel. Each of those areas accounted for just more than 17 percent of all the county’s transactions.
The Basalt/El Jebel area is selling higher-priced real estate ” at an average of $1.1 million per sale ” while the Eagle/Gypsum sales averaged $636,000 each.
Business Editor Scott N. Miller can be reached at 748-2930, or firstname.lastname@example.org.