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