Luxury Real Estate

Courtesy of Slifer Smith and Frampton

The Eagle County real estate market continues to show signs of improvement as both sales volume and number of deals are exceeding 2009 numbers. As of July 2010, sales volume for the Vail Valley was over $800 million which is 83% ahead of July 2009. It looks as though the market will exceed $1 billion in sales, the first time since 2008. 

July numbers recorded $88 million in dollar volume with 92 transactions, both exceeding the July numbers for 2009. Properties over $2 million accounted for 50% of the sales volume this month. Vail Village was the main contributor to the dollar volume with more than 30% of the overall total with $27 million over 7 transactions. Four of these transactions were properties that sold for over $5 million, including 3 Solaris units one of which was the highest priced sale this month at $7.5 million. Solaris now has sold a total of 12 residences with an average sales price of $7.6 million.

Contributing to the total dollar volume this year are the 30 deals completed on properties over $5 million accounting for over $200 million in dollar volume. Historically low interest rates and excellent values continue to drive the market under $1 million. Nearly 75% of all transactions have sold for less than $1 million in July and 70% year to date. Eagle had the most transactions this month with 11 deals. To view all of the deals that happened in July visit our market report section at http://www.vailrealestate.com/marketmonth.cfm.