Vail Valley Market Watch: Fall '07

Real Estate Sales!? Certainly a hot topic throughout the United States this summer and fall.? National news, both with the housing market and mortgage industry, has been less than exciting, if not downright scary for many people.? While not immune to national trends and perceptions, the Vail Valley real estate market has stayed solid throuhgout the summer of '07 and looks good for the fall as well.?

In the past several years,?this strength has primarily been for the benefit of the sellers, and now, it has shifted to the buyers.

Inventories throughout the valley rose sharply this summer (approx. 30% from the spring) and have just started to come off from their high points.? Fall is often a time when listings will be pulled from the market,?some becoming rentals, as well as owners deciding to keep their vaction homes for another year.

Properties are staying on the market unsold for longer periods and we are seeing price reductions becoming commonplace.? Eagle County will likely see a new record in Total $$ Sales Volume?in?2007?(over $2.8 Billion) while the number of transactions will be down, driving?the average sale price up significantly.

To discuss the real estate market here in the Vail Valley in more detail, please contact me anytime.