November continues slow real estate rebound in Eagle County

By Real Vail
Real AspenJanuary 2, 2011
Eagle County real estate sales in November continued a major rebound from the woeful sales season of 2009, with more than $113 million in sales this November compared to $82 million a year ago.

Overall, sales are up 71 percent so far in 2010 compared to 2009, and the number of deals is up 37 per year-to-date, with 1,153 transactions compared to 843 in 2009.

According an analysis prepared by Land Title Guarantee Company (pdf), the dollar volume dropped like a rock from $2.96 billion in 2007, plummeting 25 percent to $2.23 billion in 2008 and a whopping 60 percent to just over $898 million in 2009. So far in 2010 sales are closing in on $1.4 billion with another month left to report – a nice rebound, but still way down from 2007.

Solaris in Vail Village continues to lead the high-end charge.
By David O. Williams

The new Solaris project in Vail Village continues to lead the rebound. So far the new residential and retail project has seen 16 sales in 2010, averaging $7.4 million.

In November, Eagle County saw six homes sell for more than $4 million each, bringing the total of homes sold in Eagle County for more than $4 million to 41 for the year. High-end homes have accounted for 25 percent of the overall dollar volume in the county.

Multi-family homes sales continue to be the largest selling market sector, with 555 transactions year to date, 54 percent of the total market. Single-family homes accounted for 396 transactions year to date, or 39 percent of the market, and vacant land made up the other 7 percent of all Eagle County sales.

The average home sales price was $1,014,082 in November, and Vail Village accounted for 16 percent of the overall dollar volume. East Vail saw the most transactions with 10.

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