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Vail/Eagle County Market Update – August 2019

Commercial Real Estate sales volume of $62.1M with 67 transactions YTD in 2019 is down 19.1% compared to sales YTD in 2018 with 84 transactions worth $76.8M. Residential Real Estate sales for $992M YTD in 2019 is down 7.6% compared to sales YTD in 2018 of $1.1B. 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
Q2 2018
Q2 2019
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY – Eagle County (Source – LTGC)
Item:
Q2 2018:
Q2 2019:
% +/- :
Commercial Sales Volume
$76.8M
$62.1M
-19.1%
Item:
Q2 2018:
Q2 2019:
% +/- :
Commercial Transactions
84
67
-20.2%
VELOCITY – Vail (Source – VBR)
Item:
Q2 2018:
Q2 2019:
% +/- :
Commercial Sales Volume
$22.8M
$13.3M
-42%
Item:
Q2 2018:
Q2 2019:
% +/- :
Commercial Transactions
14
16
14.3%
SALES TAX INDICATORS:
Item:
Q2 2018:
Q2 2019:
% +/- :
Eagle County
$7.1M
$7.8M
9.9%
Item:
Q2 2018:
Q2 2019:
% +/- :
Vail
$14M
$14.5M
3.6%
Item:
Q2 2018:
Q2 2019:
% +/- :
Avon
$3.6M
$1.6M
-56%
Item:
Q2 2018:
Q2 2019:
% +/- :
Eagle (January – March Only)
1.2M
1.2M
0%
Item:
Q2 2018:
Q2 2019:
% +/- :
Gypsum
$2.5M
$2.8M
12%

RESIDENTIAL REAL ESTATE – Eagle County (Source – LTGC)
Item:
Q2 2018:
Q2 2019:
% +/- :
Residential Total Sales
$1.1B
$992M
-7.6%
Item:
Q2 2018:
Q2 2019:
% +/- :
Transactions
1,000
865
-13.5%
RESIDENTIAL REAL ESTATE – Vail (Source – VBR)
Item:
Q2 2018:
Q2 2019:
% +/- :
Residential Total Sales
$816M
$748M
-8.3%
Item:
Q2 2018:
Q2 2019:
% +/- :
Transactions
614
571
-7.5%
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.