Eagle County’s luxury housing market shows signs of balance
EAGLE COUNTY — The number of luxury homes sold (sales over $1 million) in the resort market of Eagle County showed signs of balance, according to a July luxury market report by LIV Sotheby’s International Realty.
In July, Eagle County communities saw an especially high volume of activity due to an increased number of visitors and second-home owners in town, LIV Sotheby’s International Realty said. Summer tends to be a popular time for home buying in the luxury sector (homes over $1 million), and also homes in the $400K – $700K range, which often receive multiple offers, the company said.
Buyers Planning for the Future
“Sales in June showed an increase in the higher end market in dollar volume, due to seven sales of $5 million or more, with the largest sale at $15.75 million,” said Dan L. Fitchett, Jr., managing broker, LIV Sotheby’s International Realty, Vail Valley. “Sales in July showed a decline in dollar volume from June with three sales of over $5 million with one of those over $9 million. Rather than the boom years of speculation, buyers are investing in the resort lifestyle and plan to own their homes for the foreseeable future. This sets up a more stable real estate market.”
In Eagle County, 26 homes with a price tag of more than $1 million sold in July, up 30 percent over 20 homes in July 2014, according to LIV Sotheby’s International Realty’s year over year comparison, based on information from Vail Board of Realtors/MLS. Average price per square foot rose slightly, 5 percent from $824 in July 2014 to $862 in July of this year.
About LIV Sotheby’s Realty
LIV Sotheby’s International Realty compiles a quarterly luxury market report to help consumers make better real estate decisions, whether purchasing or selling a home.
To access current market reports, visit http://www.coloradomarketreports.com. For more information, call Brittanny Havard, public relations manager at LIV Sotheby’s International Realty at 303-486-3738. For more information, please visit http://www.liv sothebysrealty.com