2016 was a great year for Vail Valley real estate. And the market continues to be very healthy and active. Sellers are selling, buyers are buying. Neither party seems to have the upper hand in negotiations. Rather, we are finding that there is a perfect balance between supply and demand even though inventory is down approximately 30% over last year at this time.
According to Land Title Guarantee Company in Vail: Eagle County real estate sales reached nearly $2 Billion in 2016, with $1,957,961,903 in total sales over 2,048 transactions. Those numbers were at 98% of 2015 sales and 99% of 2015 transactions so a nearly identical year to 2015.
Properties under $1M made up 74% of total sales in 2016 showing great activity in that segment of the market. Average price for 2016 was $970,000. 56% of buyers in 2016 were local and most of our buyers came from Texas (116).