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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

Darren Nakos

Darren Nakos is the Founder/Managing Broker for Landmark Real Esate Group where he focuses on commercial real estate investments, multi-family development and commercial real estate brokerage. Darren Nakos�s approach to commercial real estate is both highly quantitative and qualitative in his analysis and selection of commercial real opportunities for buyers and sellers.

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