A Snapshot Look at 2012 and Glimpse into 2013

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2012 was the best year for Eagle County real estate sales since 2008.  Here’s a look at the stats and what 2013 has in store. 

In 2012 there were 1,726 transactions, which amounted to $1.5 billion in sales.  Homes above $4 million increased from 23 in 2009 to 56 in 2012, an increase of 143%.  Sales of more affordable homes (less than $500,000) increased 58% of sales and were mainly west of Vail.  The 2012 dollar volume was up 31% over 2011, while the number of transactions increased 27%.  The following are statistics on single-family homes and condos: 

•    The average single family home price increased 4% to $1,042,750.  The biggest home sale was just over $13 million.  
•    Compared to the prior year, the average price of square footage in a Vail condo decreased 12% to $1313; Lion’s Head increased 5% to $1,307; and Beaver Creek increased 4% to $701. 

2013 looks like it will be a great year for the real estate market.  There is substantially increased buyer interest, lower inventory, and historically low interest rates of under 4%.  Prices will increase by 5 to 10%.  We’ll also see the best buying opportunities over the past 10 years with good selection available.  

Keep in mind that the current mortgage loan rates make buying a home more affordable than ever.  A 30-year fixed-rate mortgage hovered at record-low rates during 2012.  If you wait and interest rates rise, you could get locked into spending at least a few hundred extra dollars a month on your payment.   
We know that there’s an ocean of REALTORS you can choose from, but keep in mind that you get not only professionalism, but integrity as well as an adherence to the gold standard when working with us.  Our team will guide you every step of the way in the buying or selling process—whatever your need may be.

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Give me a call so I can tell you where to be positioned and how to be successful in this market.  Please contact me at (970) 331-6867 or dave@davecole.com.  We’d be happy to assist you.