The trend is slowing but not significantly

Total real estate sales in January of the new year were a total of $124 million and the number of transactions was 104. This compares to 175 transactions in 2007 and a total of $175 million in sales volume. In February of ‘07, transactions totaled 273, and I am guessing that we will not see that level in 2008. It should be noted that we mentioned the sales volume last year was filled with a lot of multi million dollar sales from both Beaver Creek and Bachelor Gulch, which we are not seeing at this time.

Another interesting stat is that only 34 single family homes sold in January for total volume of $50.5 million, but there were 45 multi family sales totaling $55.9 million. Of those, 26 transactions were under a half million dollars and 24 were under a million. Again, Eagle had the highest number of transactions with 15.

As the nationwide economy shows a continued slowing in real estate, we in the Vail Valley may see some slippage, but the overall trend is healthy. The Gateway office continues to track the trends carefully and we invite anyone interested in finding the best bargains to call me, JUDD BABCOCK, at 970-376-3230 for up to date stats on the market.

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