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.
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