Land Title’s February 2016 Market Analysis Shows Local Real Estate Market Tapping the Brakes

Land Title’s February 2016 Market Analysis shows progressive slowing in the Eagle County real estate market.

Real estate dollar volume for February 2016 was $67,025,367, a year-over-year dollar volume decline of 25%, and down 45% when compared with dollar volumes recorded in February 2014.   This is the fewest number of transactions since January 2010; and the lowest dollar volume in any month since 2013.  Overall, Eagle County lags 2015 dollar volume by 25%, and number of transactions by 8%.

The towns of Gypsum and Eagle had the most active market in Eagle County in February with 24 transactions, followed by Avon and Vail Village with 6 transactions each.

The average residential transaction price for February 2016 (not including bank sales) was $914,470 and the median was $482,500.  Vail Village accounted for 26% of the County’s total sales volume at nearly $17.5M, helped along by February’s highest priced sale at $7.1M.

Sales below $1M accounted for 73% of all transactions in February, and half of the sales under $1M were under $500,000.

New construction sales accounted for 10 transactions in the February numbers, including 4 at Two River Village in Dotsero.

Learn More: Land Title February 2016 Market Analysis