Eagle County and the Vail Valley’s residential real estate market continues to remain active. While this summer was not as robust as expected in terms of total sales — 103 sales for August 2024 versus 119 for August 2023 — average list and sales prices continue to show gains. The average list price in August was up 6.
6% and the average sales price was up 7.5% over August 2023. Continued buyer demand and sellers pricing their homes to market value are keeping list-to-sales ratios at 98%.
More sellers are now pricing their homes correctly and this is paying off with a drop in median days on the market, down to 22.5 for August 2024, compared to 41 days in July of this year. As we head into fall, Eagle County’s real estate market continues to impress with listings and pending sales near their peak for the year, spurred by declining interest rates.
September and October are expected to continue to be busy given the new listing and pending sales volume, and buyers looking to close before the start of ski season. What the current market means for buyers and sellers: Craig Denton, managing broker for Berkshire Hathaway HomeServices Colorado Properties’ Vail Village office, notes the resort/luxury market, including Vail, Beaver Creek, Arrowhead, and Cordillera, continues to remain strong. “Properties in Vail Village as well as Beaver Creek and Arrowhead have all been moving when priced well,” Denton said.
“If a seller overreaches, they’re likely to sit on it.” As a.
