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2010 finishes the year well above 2009
 
   
   
Eagle County ended the year with 1,250 transactions, a 33% increase over 2009. Eagle County had nearly $1.5 billion in dollar volume in 2010, a 67% increase over last year.

While 41% of all transactions had a sales price of less than $500,000, there were 60 sales over $4 million which helped create the second highest average price-per-sale ever at $1,197,738; only 2008 was higher with an average price of $1,391,605.   

New developments made a large contribution to the overall numbers in 2010. The following is a summary of sales in some of the larger new projects in the county:
 
  • Westin: $47,375,600 Gross Volume, $570,790 AVG PPU, $650 AVG PPSF, with 83 Sales in 2010
  • Solaris: $124,821,800 Gross Volume, $6,934,544 AVG PPU, $2,462 AVG PPSF, with 18 Sales in 2010
  • Arrabelle: $38,830,000 Gross Volume, $3,530,000 AVG PPU, $1,351 AVG PPSF, with 11 Sales in 2010
  • Ritz: $42,486,000 Gross Volume, $3,034,714 AVG PPU, $1,379 AVG PPSF, with 14 Sales in 2010 (This does not include the bulk sale of 45 Units for $110,890,000)
 
 
Single Family homes accounted for 34% of all transactions in 2010. The average price went down 4% from 2009 to $1.26 million in 2010.  

There were 599 high-end condominium projects/multifamily homes that sold in 2010 accounting for 48% of the total sales, with an average sales price of $1.15 million. This is up $250,000 per sale over 2009.
 
CLICK HERE FOR: 2010 YTD thru December Eagle County Report
 
Average Prices & Price Per Square Foot:
 
The average sales price of single-family homes countywide in 2010 decreased an average of 4% over 2009 year, while multifamily homes increased 28%. The large increase in the sales price in multifamily homes is primarily due to the large sales in the new development projects previously mentioned.
 
The average price per square foot for single-family homes throughout Eagle County in 2010 was $321; and the area with the highest PPSF average was Vail Village at $1,348.
 
The average PPSF for multifamily homes had the greatest increase over 2009 with an average increase of 21%. Lionshead (PPSF average $1,277) and Vail Village (PPSF average $1,643) were the areas that had the highest PPSF averages.
 
The following link shows the specifics for each area in Eagle County.
 
CLICK HERE FOR: Market Snapshot by Area
 
Foreclosure Market:
 
In 2010, there were 938 total foreclosure actions taken in Eagle County. Of these actions, 648 were Notice of Election and Demand (NED) filings. Of the 648 total NED’s filed, 248 of those actually went to foreclosure and are now owned by the bank. There were 103 bank owned properties sold in 2010.  

The area that had the most NED filings was Gypsum with 248 (29% of the overall market) followed by Eagle (20% of the overall market).   

There were 88 Intervals (time shares) that accounted for 10% of all foreclosure actions.  

The link below breaks our foreclosure market out in greater detail.
 
CLICK HERE FOR: Eagle County’s Foreclosure Summary
 
How has Eagle County real estate appreciated over the years?
 
There was an abnormal influx in real estate values during 2006 through 2008. The average sales price at the end of 2005 was $696,060. Just 3 years later, the average sales price doubled to $1,391,606 in 2008. Because the values during this time frame were so out of the historical norm, these 3 years (2006 thru 2008) were removed and created an average appreciation for Eagle County during the last 20 years of 8.95%. The red line in the graph below shows our average sales price in Eagle County since 1987 and the blue line indicates the 8.95% annual appreciation. Even after the down year in 2009, Eagle County is still just 12% off the historical average appreciation price.
 
CLICK HERE FOR: Eagle County’s Avg. Appreciation Graph
 
 
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