July real estate sales show strength in Eagle County
The most recent sales numbers for the Vail Valley real estate market showed July sales are finally back up to the levels seen in 2008. The economic slump really hit the real estate market in 2009, so the numbers posted in 2008 are much better. The sales volume in July predomiately came from property priced at $1 million or less. That part of the market made up 84 percent of all the transactions. So far the the number of transactions indicate more of a normalized market.
Inventory in the Vail Valley is low and new construction is drawing more interest than the re-sale of an existing unit. The luxury market seems to be lagging as sellers are in a position to wait for the right price on their property. Buyers seem to be cashing out of the stock market and are ready to purchase a home for the ski season--a lifestyle market.