The year-end real estate sales statistics are in for Eagle County, Colorado. The following report from Land Title Guarantee shows the sales data in comparison to the last four years:
Land Title’s 2011 Year End Market Analysis
HIGHLIGHTS FROM THE REPORT:
- 1,357 total number of real estate transactions in 2011, 9% above 2010 and 45% above 2009. The most transactions ever recorded in Eagle County was in 2005 with 4,023.
- 43 Transactions (4%) over $4 million accounting for 28% of the total residential dollar volume.
- Total dollar volume for 2011, $1,158,048,856, down 23% from 2010, which was $1,497,172,233. While the dollar volume was down from 2010, there was a sales increase of 29% over 2009. Eagle County’s
- The overall average sales price in 2011 was $857,858. The average sales price has decreased this year, 2011, as bank sales rose.
WHO IS BUYING REAL ESTATE IN EAGLE COUNTY? Nearly 40% are locals currently living within Eagle County; another 22% are from within Colorado, which means almost 62% of all buyers purchasing real estate in Eagle County are from within Colorado. Texas is 3rd followed by Florida. International buyers accounted for 2% of the transactions. Below shows a graph of the buyer profile purchasing real estate in Eagle County.
HIGH-END PROPERTIES (OVER$4MILLION) ended the year with 5 more transactions in December. The highest priced transaction sold in December was in Bachelor Gulch for $9.95 million. This sums up a fairly strong 2011 in the high-end market, with a total of 43 transactions (4%) over $4 million accounting for 28% of the total residential dollar volume.
NEWER DEVELOPMENTS: Some of these high-end properties sold in one of the five newer developments in Vail and Avon; Solaris, Arrabelle, Ritz Carlton, Ascent and the Westin. The Ascent had the most sales with 40, while Solaris had the highest average sales price and price per square foot. Overall, these 5 projects accounted for 78 transactions and more than $143 million (12%) in dollar volume. Below is a chart breaking down the sales of each of these projects. Developments Chart
PRICE PER SQUARE FOOT (PPSF) / AVERAGE RESIDENTIAL SALES PRICE: The following report shows the price per square foot for single family, multifamily and residential vacant land for each area throughout Eagle County. Residential PPSF / Average Sales Price Report.
The single family PPSF has fallen county wide by 20% to $255 PPSF since last year while multifamily homes decreased just 9% to $481 PPSF over 2010.
Single family homes in the Cascade/Glen Lyon area saw the greatest PPSF increase at 50% while Minturn saw a 47% decline. Vail Village boasts the highest PPSF for both single family homes at $1,742 and multifamily homes at $1,486.
Bachelor Gulch has the highest average sales price for single family homes at $7.7 million, an increase of 37% over 2010. Beaver Creek multifamily homes had the largest PPSF decrease of 29%, bringing the average sales price to $1.3 million.
Content via: Trevor Theelke Account Manager Land Title Guarantee Company
090 Benchmark Road, Ste. 205 Avon, CO 81620 ttheelke@ltgc.com
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