Vail Real Estate: $1.2 Billion and Counting

Posted by — September 5, 2005

Vail Real Estate: $1.2 Billion and CountingBy Cliff Thompson, Eagle County CorrespondentThis article was originally published in the Summit Daily News

EAGLE COUNTY, CO-Frenetic sales of entry-level housing drove June's sales to a new record - $275.4 million.

That eclipses the previous June mark of $158.7 million by better than 50 percent and takes the year-to-date total to $1.2 billion in sales, according to statistics reported by Land Title.

The county's sales mirrored the national trend. Real estate sales records were set across the country in June, according to a report issued by the National Association of Realtors.

In Eagle County, continued low interest rates and the availability of entry-level properties - those priced at less than $1 million - have sparked the boom. Sales of those homes accounted for 61 percent - or 226 of 370 - transactions in June.

A total of 1,839 transactions were logged at the midway point of the year. That's 476 more sales than last year at the midway point.

Sales of homes priced at $3 million and more were a little slower than in the past - there were nine.

That disparity between the number of entry-level homes sold and the nine sold in the $3 million to $5 million range is attributable to fewer people in the upper crust, industry professionals said.

"It's totally normal," said Jim Flaum of Slifer, Smith & Frampton Real Estate. "There's lots more people who can afford to buy a home priced under $1 million than over."

The difference may in fact be due to the acceleration of sales of entry-level properties instead of a slowing at the high end, Flaum said.

Share this post

Search Press Releases

Recent Blog Posts

Ansley Atlanta's Denise Miller Lists Two Prized Homes in Serenbe Community

Ansley Atlanta Real Estate, Ansley Atlanta Real Estate — Feb 23

Brevard Growth Gains National Acknowledgement

Debbie Harris-Caldwell, Dale Sorensen Real Estate — Feb 23

Villa Real Estate Represents This Dream Retreat at 412 Via Lido, Newport Beach

Villa Real Estate, Villa Real Estate — Feb 23

Beautiful New Construction in Sandy Springs, Atlanta, Georgia

Berkshire Hathaway HomeServices Georgia, BHHS – Georgia — Feb 23

Kolea House 14- NEW Listing!

Johnny Mac McElree, Hawaii Luxury Listings, LLC — Feb 22

Twitter