March showed the highest number of transactions,129, since October 2008. For the last 29 months, Eagle County has averaged 92 transactions per month.
With nearly $132 million in sales volume, March also had the 4th highest dollar volume in the last 27 consecutive months.
The driving force through the 1st quarter of 2011 has been the two diametrical spectrums of our real estate market - the high end and the lower end. The high end, including residential properties over $4 million, has accounted for 38% of our total dollar volume. The lower end of the residential range, properties under $500,000, accounted for 50% of all transactions.
March had 5 properties that sold over $4 million; the highest residential property sold at $10,350,000 in Vail. Solaris had the highest price per square foot in March at $2,526.
Through the 1st quarter of 2011, Eagle County has had 54 bank owned properties sell. This means that 19% of our total transactions had a bank as the seller. These sales averaged $354,820, equivalent to $172 per square foot.
To see a detailed breakdown of activity behind these stats, please click here: Land Title March Statistics
Wednesday, May 11, 2011
Sunday, March 14, 2010
Beaver Creek Open House Today 2-5pm
I will be at 369 Holden Road today, Sunday March 14, from 2-5pm. Come on by!
http://www.tiffanylydon.com/main.cfm?nmenuitem=detail&start=1&PropertyID=25728&nPtype=0&MaxRows=10&nBath=0&nBed=0&nPriceFrom=0&nPriceTo=100000000&Lister=134&iAreaID=0&dateadded=&Sort1=ListPrice&SortPrice=desc&keyword=369 holden
http://www.tiffanylydon.com/main.cfm?nmenuitem=detail&start=1&PropertyID=25728&nPtype=0&MaxRows=10&nBath=0&nBed=0&nPriceFrom=0&nPriceTo=100000000&Lister=134&iAreaID=0&dateadded=&Sort1=ListPrice&SortPrice=desc&keyword=369 holden
Thursday, March 11, 2010
January 2010 Land Title Market Analysis
January 2010 numbers are double those of January 2009
January of 2010 is off to a positive start with a total dollar volume of $86,864,200, more than double that of January 2009. Transactions were 72% above last year with 79 compared with the 46 transactions of last January. The average sales price this January is $1,108,616 with a median price of $735,000.
Included in these January sales numbers are 19 Westin units which averaged $732,479. Due to the number of Westin units sold there are 43 multifamily homes that sold in January compared to 19 single family homes.
Also included in the real estate figures for January is the sale of Cotton Ranch Golf Course in Gypsum for $2.5 million.
January 2010 had 4 transactions in the over $4 million price range with the highest sale price featuring an Arrabelle unit selling for $5.75 million.
January Highlights:
Single family homes averaged $1,694,616
Avon had nearly 1/3 of all transactions and more than 20% of the dollar volume
The Arrabelle sale in Lionshead created the highest average price of any area at $5.75 million
http://www.ltgc.com/files/ttheelke/LandTitlesEagleCountyMarketAnalysis.pdf
January of 2010 is off to a positive start with a total dollar volume of $86,864,200, more than double that of January 2009. Transactions were 72% above last year with 79 compared with the 46 transactions of last January. The average sales price this January is $1,108,616 with a median price of $735,000.
Included in these January sales numbers are 19 Westin units which averaged $732,479. Due to the number of Westin units sold there are 43 multifamily homes that sold in January compared to 19 single family homes.
Also included in the real estate figures for January is the sale of Cotton Ranch Golf Course in Gypsum for $2.5 million.
January 2010 had 4 transactions in the over $4 million price range with the highest sale price featuring an Arrabelle unit selling for $5.75 million.
January Highlights:
Single family homes averaged $1,694,616
Avon had nearly 1/3 of all transactions and more than 20% of the dollar volume
The Arrabelle sale in Lionshead created the highest average price of any area at $5.75 million
http://www.ltgc.com/files/ttheelke/LandTitlesEagleCountyMarketAnalysis.pdf
Arrowhead Auction
A two bedroom condo in Arrowhead will be auctioned off March 19, 2010.
The auction is being held by Sheldon Good out of Denver
Check out their web site :
http://www.sheldongood.com/arrowhead.php
If you have more interest in this property, I welcome your phone call.
The auction is being held by Sheldon Good out of Denver
Check out their web site :
http://www.sheldongood.com/arrowhead.php
If you have more interest in this property, I welcome your phone call.
Saturday, November 14, 2009
NAR Chief Economist Says Home Prices Will Rise 4% in 2010
SAN DIEGO — Home prices are expected to grow modestly next year and sales will keep rising as the housing market continues to recover from the worst downturn since the Great Depression, the National Association of Realtors said Friday.
Home resales are projected to total 5.7 million next year, up from an estimated 5 million this year. Prices will climb about 4% after a projected decline of 13% this year, according to Lawrence Yun, chief economist for the trade association.
"Going into 2010, I anticipate that prices will also begin stabilizing or begin to modestly improve," Yun told the audience at the association's annual conference and expo in San Diego.
That should help ease buyers' anxiety. "I don't think the fear factor will be at play in 2010," Yun said.
The housing market's rebound has been aided by an aggressive federal intervention to lower mortgage rates and bring more buyers into the market. Home resales rose in September to the highest level in more than two years, something Yun said shows buyers are eager to get back into the market.
A federal tax credit of up to $8,000 for first-time homebuyers has helped stoke sales this year. The incentive was set to expire at the end of this month, but the NAR and other housing groups successfully lobbied to get the credit extended.
Now buyers can claim the credit if they sign a contract by April 30 and close the deal by the end of June. Lawmakers also expanded the program to include a $6,500 credit for existing homeowners who have lived in their current residence for at least five years.
First-time buyers accounted for a record 47% of home sales this year, up from 41% last year, the trade group said.
That surge helped drive traffic for real estate agents like Jan McGill of Omaha, and the extension makes her more optimistic about business next year.
"I've got to be positive," McGill said.
Yun estimated around 2 million people took advantage of the tax credit this year and projects it will continue to lift the market.
However, some housing analysts said the NAR's forecast was overly optimistic, as it was during the housing bubble. Economists like Patrick Newport argue the tax credit has already enticed many buyers who otherwise would have waited until next year.
"It induced first-time homebuyers who were going to buy a home in 2010 to buy in 2009 because they thought it wasn't going to be extended," said Newport, an economist at IHS Global Insight.
Newport is projecting home prices will fall between 3% and 5% next year and sales of existing homes will be flat, at best.
"I don't think that second tax credit is going to create a lot of new homebuyers," he said.
But Yun supports his case by pointing to data from 2000, prior to the housing boom, when 11 million renters had the income necessary to buy a median-priced home. This year, he said, there are 16 million renters in that position.
"This clearly shows that there's potential pent-up demand that could be tapped," he said.
His forecast calls for sales of newly built homes to surge by about 38% from 2009 levels. That translates to about 549,000 homes, still well below historical trends.
Yun also sees the average interest rate on a 30-year, fixed mortgage creeping up to 5.8% by the end of 2010 from about 5% today.
Foreclosures, meanwhile, should peak in the first half of the year, he said.
Home resales are projected to total 5.7 million next year, up from an estimated 5 million this year. Prices will climb about 4% after a projected decline of 13% this year, according to Lawrence Yun, chief economist for the trade association.
"Going into 2010, I anticipate that prices will also begin stabilizing or begin to modestly improve," Yun told the audience at the association's annual conference and expo in San Diego.
That should help ease buyers' anxiety. "I don't think the fear factor will be at play in 2010," Yun said.
The housing market's rebound has been aided by an aggressive federal intervention to lower mortgage rates and bring more buyers into the market. Home resales rose in September to the highest level in more than two years, something Yun said shows buyers are eager to get back into the market.
A federal tax credit of up to $8,000 for first-time homebuyers has helped stoke sales this year. The incentive was set to expire at the end of this month, but the NAR and other housing groups successfully lobbied to get the credit extended.
Now buyers can claim the credit if they sign a contract by April 30 and close the deal by the end of June. Lawmakers also expanded the program to include a $6,500 credit for existing homeowners who have lived in their current residence for at least five years.
First-time buyers accounted for a record 47% of home sales this year, up from 41% last year, the trade group said.
That surge helped drive traffic for real estate agents like Jan McGill of Omaha, and the extension makes her more optimistic about business next year.
"I've got to be positive," McGill said.
Yun estimated around 2 million people took advantage of the tax credit this year and projects it will continue to lift the market.
However, some housing analysts said the NAR's forecast was overly optimistic, as it was during the housing bubble. Economists like Patrick Newport argue the tax credit has already enticed many buyers who otherwise would have waited until next year.
"It induced first-time homebuyers who were going to buy a home in 2010 to buy in 2009 because they thought it wasn't going to be extended," said Newport, an economist at IHS Global Insight.
Newport is projecting home prices will fall between 3% and 5% next year and sales of existing homes will be flat, at best.
"I don't think that second tax credit is going to create a lot of new homebuyers," he said.
But Yun supports his case by pointing to data from 2000, prior to the housing boom, when 11 million renters had the income necessary to buy a median-priced home. This year, he said, there are 16 million renters in that position.
"This clearly shows that there's potential pent-up demand that could be tapped," he said.
His forecast calls for sales of newly built homes to surge by about 38% from 2009 levels. That translates to about 549,000 homes, still well below historical trends.
Yun also sees the average interest rate on a 30-year, fixed mortgage creeping up to 5.8% by the end of 2010 from about 5% today.
Foreclosures, meanwhile, should peak in the first half of the year, he said.
The snow is here
In the last day we (Vail, Beaver Creek, Arrowhead, Edwards, Avon, and Cordillera)have received 4 inches of snow. I just took this picture today from my office at the Park Hyatt in Beaver Creek. We are excited to start the ski season at Vail mountain this Friday November 20th. Beaver Creek ski mountain opens Wednesday November 25th. Did you buy your epic pass yet?
Monday, October 26, 2009
$14 million dollar home in Bachelor Gulch Under Contract
A single family home located right off the ski slopes went under contract this week! The home is over 10,000 square feet and listed at $14 million dollars. Some of my favorite features of the home were the liquid granite floors in the garage and mechanical room, the faboulous wine cellar with moss rock surrounding, and the Sok tub that fills from the ceiling. Oh, and also the fabulous ski-in/ski-out access. The homesite (just land) was purchased for $4.8m in April 2006.
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