2010 FINISHES THE YEAR WELL ABOVE 2009

Monday, February 7, 2011

Eagle County, home to the resorts of Vail/Beaver Creek and their sister resorts, ended the year with 1,250 real estate transactions, a 33% increase over 2009. Eagle County had nearly $1.5 billion in dollar volume in 2010, a 67% increase over last year.

While 41% of all transactions had a sales price of less than $500,000, there were 60 sales over $4 million which helped create the second highest average price-per-sale ever at $1,197,738; only 2008 was higher with an average price of $1,391,605.

New developments made a large contribution to the overall numbers in 2010. The following is a summary of sales in some of the larger new projects in the county:

• THE WESTIN RIVERFRONT RESORT (Avon, base of Beaver Creek):
$47,375,600  Total value of 83 closed transactions
     $570,790  Average price per unit
            $650  Average price per square foot

• SOLARIS (Vail Village):
$124,821,800  Total value of 18 closed transactions
    $6,934,544  Average price per unit
           $2,462  Average price per square foot

• ARRABELLE AT VAIL SQUARE (Lionshead):
$38,830,000  Total value of 11 closed transactions
  $3,530,000  Average price per unit
          $1,351  Average price per square foot

• THE RITZ-CARLTON (Lionshead):
$42,486,000  Total value of 14 closed transactions (does not include 45 pre-construction contracts written in the amount of $110,890,000 2-3 years ago that closed in 2010)
  $3,034,714  Average price per unit
         $1,379  Average price per square foot

Single Family home sales accounted for 34% of all transactions in 2010. The average price declined 4% from 2009 to $1.26 million in 2010.

There were 599 high-end condominium projects/multi-family homes sold in 2010 accounting for 48% of 2010 total sales, with an average sales price of $1.15 million, up $250,000 per sale over 2009.

This information is provided and copyrighted by Land Title Guarantee located in Avon, Colorado.

If you'd like to receive an emailable copy of Land Title's complete report, including all statistical tables, please contact me at cmiskell@slifer.net and I'll send it off to you right away.