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Vail/Eagle County Market Update – April 2019

Commercial Real Estate sales volume of $34.6M with 34 transactions YTD in 2019 is relatively even compared to sales YTD in 2018 with 44 transactions worth $34.7M. Residential Real Estate sales for $411M YTD in 2019 is down 11% compared to sales YTD in 2018 of $461K. New commercial real estate development projects include 4 apartment projects for 171 units in Vail, 1 apartment project in Avon for 81 units under construction, 3 apartment projects in Edwards for 228 units under construction, 7 apartment projects in Eagle for 1,598 units of which 2 projects are under construction, 4 apartment projects in Gypsum for 1075 units of which 1 project is under construction. There are a total of 19 apartment construction projects worth 3,153 units coming on to the market.

VAIL/EAGLE COUNTY MARKET UPDATE

Item
Q1 2018
Q1 2019
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY – Eagle County (Source – LTGC)
Item:
Q1 2018:
Q1 2019:
% +/- :
Commercial Sales Volume
$34.7M
$34.6M
-13.3%
Item:
Q1 2018:
Q1 2019:
% +/- :
Commercial Transactions
44
34
-22.7%
VELOCITY – Vail (Source – VBR)
Item:
Q1 2018:
Q1 2019:
% +/- :
Commercial Sales Volume
$7.4M
$4.8M
-65%
Item:
Q1 2018:
Q1 2019:
% +/- :
Commercial Transactions
14
9
-65%
SALES TAX INDICATORS:
Item:
Q1 2018:
Q1 2019:
% +/- :
Eagle County
$1.6M
$3.8M
133%
Item:
Q1 2018:
Q1 2019:
% +/- :
Vail
$11.6M
$12.4M
7.1%
Item:
Q1 2018:
Q1 2019:
% +/- :
Avon
$1.6M
$1.6M
0%
Item:
Q1 2018:
Q1 2019:
% +/- :
Eagle
No Report
No Report
Item:
Q1 2018:
Q1 2019:
% +/- :
Gypsum
$1.4M
$1.6M
14%

RESIDENTIAL REAL ESTATE – Eagle County (Source – LTGC)
Item:
Q1 2018:
Q1 2019:
% +/- :
Residential Total Sales
$461.3M
$411M
-11%
Item:
Q1 2018:
Q1 2019:
% +/- :
Transactions
433
355
-18%
RESIDENTIAL REAL ESTATE – Vail (Source – VBR)
Item:
Q1 2018:
Q1 2019:
% +/- :
Residential Total Sales
$328.4M
$325.6M
-1%
Item:
Q1 2018:
Q1 2019:
% +/- :
Transactions
249
244
-2%
DEVELOPMENTS
  • Vail – 4 projects with 171 units
  • Avon – 1 project with 81 units under construction
  • Edwards – 3 projects with 228 units under construction
  • Eagle – 7 projects with 1598 units (2 projects under construction)
  • Gypsum – 4 projects with 1075 units (1 project under construction)
  • Total – 19 projects with 3,153 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.