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Vail/Eagle County Market Update – August 2018

Commercial Real Estate sales volume of $76.7M with 33 transactions YTD in 2018 is down 16.1% compared to sales Jan-July 2017 with 46 transactions worth $49.7M. Residential Real Estate sales for $1,073M YTD in 2018 are slightly down by 3% compared to sales Jan-July 2017 of $1,110M. Sales Taxes in Eagle County are down 21% YTD compared to taxes collected Jan-July 2017. New commercial real estate development projects include 4 apartment projects for 171 units in Vail, 1 apartment project in Avon for 12 units, 3 apartment projects in Edwards for 228 units, 7 apartment projects in Eagle for 1,598 units, 4 apartment projects in Gypsum for 1077 units. There are a total of 19 apartment construction projects worth 3,084 units coming on to the market.

VAIL/EAGLE COUNTY MARKET UPDATE

Item
2017 YTD
2018 YTD
+/- %
——————————————————————————————————————————————————————————————————
VELOCITY (Source – LTGC)
Commercial Sales Volume
Commercial Transactions
$49,700,000
46
$76,763,000
84
-16.1%
-17.4%
Source VBR
Commercial Sales Volume
Transactions

$22,800,000
33

$22,750,000
36

0%
9.0%
SALES TAX INDICATORS (Source – Town of Breckenridge)
Eagle County
Vail
$7,765,000
$13,107,000
$6,098,000
$13,470,000
-21.0%
3.0%
CAP RATES
1.2-4.0%
1.5-4.5%
RESIDENTIAL REAL ESTATE
LTG Countywide Numbers
Residential Total Sales
Transactions
$1,110,643,611
960
$1,073,947,340
1,000
-3.0%
4.0%
VBR Sales Numbers
Transactions
$749,000,000
607
$819,000,000
628
9.0%
3.0%
INVENTORY
Residential Inventory:
20% Months of Supply down from 9.7 months to 7.5 months on Single Family/Duplex/Townhome/Condominiums down from 7.1 months to 6.2 months
Commercial Inventory:
Current VBR Listings For Sale – 13 months Supply
DEVELOPMENTS
  • Vail – 4 projects with 171 units
  • Avon – 1 project with 12 units
  • Edwards – 3 projects with 228 units
  • Eagle – 7 projects with 1598 units
  • Gypsum – 4 projects with 1075 units
  • Total – 19 projects with 3,084 units

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About The Author

Mike Budd, Berkshire Hathaway Home Services

Mike Budd’s tenure in the Vail Valley has allowed him to watch the growth and development that makes Vail the greatest resort area in the world. He offers his clients a unique perspective when professionally marketing their commercial property or working through the entitlement and sales process for real estate development in the Vail Valley area.