Real estate in Eagle County, Colorado reached a milestone in 2017 — breaking $2 billion in annual sales for the first time since 2008. According to the Land Title Guarantee Company in Vail, the $2B threshold for the year was surpassed in November 2017. At that point, there had been 1,956 transactions in the county averaging over $1 million.
Engel & Völkers Vail/Beaver Creek’s largest sale of the year — Tyrolean Residence #9 in the heart of Vail Village — occurred in December for $11.2 million. This is an increase over Engel & Völkers’ two highest sales of 2016, which were in the $8-9 million range.
Much of Engel & Völkers’ sales volume for 2017 occurred during the fall, as potential buyers who looked throughout the winter and summer seasons finalized real estate purchases before the end of the year. This has been a trend in the area for the last several years, and we expect it to continue through 2018.
The low-snow season hasn’t affected real estate sales so far this year and isn’t expected to affect the upcoming year either. Those who are considering the area expect varying snowfall year to year, and abundant summer activities make the area a popular year-round destination.
The fastest-growing communities in Eagle County are in the lower Vail Valley, specifically Eagle, Gypsum and Dotsero. Supply is meeting demand here, and these communities are seeing an influx of year-round residents to new developments, which tend to be more accessible and affordable than other areas of the valley. Up-valley communities, like Vail and Beaver Creek, have less growth in terms of inventory, but are seeing a healthy amount of turnover as vacation properties change hands.
We are also seeing more partial ownership sales in Vail and Beaver Creek over the last few years. We expect this trend to continue into 2018, as people enjoy the flexibility of partial ownerships. Prices are remaining relatively stable for these residences, but the overall volume of sales is increasing year over year.
FEATURED EAGLE COUNTY PROPERTIES
16 Vail Road #318, Vail, Colorado | $315,000 (Partial Ownership)