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First-quarter Eagle County real estate sales nearly 20 percent better than 2012

But prices still lagging behind last year's pace

By Real Vail
Real Aspen – June 5, 2013
The number of real estate transactions was up 18 percent in Eagle County for the first three months of 2013 compared to the first quarter of 2012, according to an analysis by Land Title Guarantee Company.

But the price of single-family homes dropped six percent for the first quarter of 2013 compared to 2012, while sales of multi-family homes rose 23 percent for the first quarter.

Land Title released its first-quarter analysis for 2013 on Tuesday, comparing real estate sales statistics to the first quarter of 2012 in a six-county resort region in Colorado’s central and northern Rockies. Eagle County is home to the ski areas of Vail and Beaver Creek.

Bank sales accounted for 15 percent or more of the gross sales volume for Eagle, Garfield (Glenwood), Pitkin (Aspen) and Routt (Steamboat) counties, meaning quite a few distressed properties from the real estate collapse of 2009 are still working their way through the system.

On a more positive note, new construction sales accounted for 10 percent or more in gross sales volume for Eagle, Grand (Winter Park) and Routt counties.

The number of real estate transactions in Pitkin County was up 13 percent in the first quarter of 2013 compared to the same three-month timeframe in 2012, but the average single-family home sold for 35 percent less.

There were 168 transactions in Pitkin County in the first quarter of 2013, up 13 percent over the first quarter of 2012.

The average single-family home sold for $2,746,347, down 35 percent from 2012. The median single-family home price was $2.2 million, down 21 percent from 2012.

The buyer profile for Pitkin County showed 55 percent of the properties sold were purchased by out-of-state buyers, 34 percent by local buyers, 10 percent international and one percent by Coloradan on the Front Range.

For the entire six-county, first-quarter comparison report, go to Land Title’s website (pdf).

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