October real estate sales up in Vail Valley

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Other October highlights

- There were 89 multi-family-home sales that averaged $989,845.

- Avon had the most transactions with 46, the majority made up of the 40 Westin closings.

- Vail Golf Course had the highest average sales price at $3,850,000 over transactions.

- 42 percent of the transactions were properties that sold for less than $500,000.

- The total sales volume for 2008 is $1,835,624,200 for the year, which is 28 percent the volume at the same time last year.

— October was the biggest month this year for real estate in Colorado's Vail Valley, according to figures released Wednesday by Land Title Guarantee Co.

The boost came from 40 closings worth about $32 million at the recently opened Westin Resort in Avon.

The total dollar volume for October was $167,624,200, which equates to an overall average sales price of $956,373.

There were seven transactions more than $4 million. Four of those transactions were at the Willows in Vail.

Rod Slifer, founding partner of Slifer, Smith and Frampton Real Estate, said he felt the majority of the closings came from the Westin Resort and Arrabelle.

"If you pulled out those two, I think the number would be a lot lower," he said. "If you go back a lot of years, the number of transactions has declined every year, but the dollar amount of the transactions have increased."

With the economy struggling, Slifer said the report was good news for the Vail Valley.

"I think we all know the economy is slowing down," he said. "We just need to hang in there.

"Snow would help, too," he added, "but if we could have numbers like these every month, I'd be a happy man."

Comments

Scott Wedel 6 years, 1 month ago

Is this supposed to be journalism or cheerleading?

Sidebar fact not mentioned or referenced in any way in the article: The total sales volume for 2008 is $1,835,624,200 for the year, which is 28 percent the volume at the same time last year.

Note that October, the 10th month of the year did $167M which is below the monthly average of $183.6M for the year. So apparently number of transactions were up slightly while dollar volume was down.

So October is up from dismal earlier months in 2008, but still has a 72% decline in the transaction dollar volume from 2007.

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Matthew Stoddard 6 years ago

So...what about Steamboat's October real estate numbers? Why are they tauting Vail's?

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aichempty 6 years ago

Why is this a local story?

I've spent enough time in Vail to know that the town doesn't fit me. I'd also guess that most of the people buying the $900k+ properties wouldn't fit here, either.

Saw on Today, today, a house for sale in Savannah, Georgia for $450,000. It looks like something out of Gone With the Wind. 6 fireplaces, on 1/3 of an acre. Great, except it's in Savannah, Georgia. Might as well be Vail . . . .

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