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Vail/Eagle County Market Update � January 2019

Commercial Real Estate sales volume of $187.1M with 183 transactions in 2018 is down 41% compared to sales in 2017 with 154 transactions worth $318M with the decrease in 2018 due to $145M commercial sale of a hotel in 2017. Residential Real Estate sales for $1.9B YTD in 2018 are slightly up by 4.5% compared to sales in 2017 of $1.8B. Sales Taxes in Eagle County are up 6% in 2018 compared to taxes collected in 2017. New commercial real estate development projects include 4 apartment projects for 171 units in Vail, 1 apartment project in Avon for 81 approved units, 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 1077 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
2017
2018
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY – Eagle County (Source � LTGC)
Item:
2017:
2018:
% +/- :
Commercial Sales Volume
$319M
$187M
-41%
Item:
2017:
2018:
% +/- :
Commercial Transactions
154
183
19%
VELOCITY � Vail (Source � VBR)
Item:
2017:
2018:
% +/- :
Commercial Sales Volume
$34.5M
$33.1M
-4.2%
Item:
2017:
2018:
% +/- :
Commercial Transactions
50
66
32%
SALES TAX INDICATORS:
Item:
2017:
2018:
% +/- :
Eagle County
$14.7M
$15.6M
5.8%
Item:
2017:
2018:
% +/- :
Vail
$26M
$27.9M
7.2%
Item:
2017:
2018:
% +/- :
Avon
$6.8M
$7.2M (November 2018)
Item:
2017:
2018:
% +/- :
Eagle
$4M
$2.3M (June 2018)
Item:
2017:
2018:
% +/- :
Gypsum
$4.9M
$5.2M
6.6%

RESIDENTIAL REAL ESTATE � Eagle County (Source � LTGC)
Item:
2017:
2018:
% +/- :
Residential Total Sales
$1.84B
$1.92B
4.5%
Item:
2017:
2018:
% +/- :
Transactions
1,703
1,623
-4.7%
RESIDENTIAL REAL ESTATE � Vail (Source � VBR)
Item:
2017:
2018:
% +/- :
Residential Total Sales
$1.54B
$1.67B
8.4%
Item:
2017:
2018:
% +/- :
Transactions
1,377
1,353
-2.5%
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

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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