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Vail/Eagle County Market Update – January 2020

Posted on February 25, 2020 by Mike Budd, Berkshire Hathaway Home Services in Market Updates

Commercial Real Estate sales volume of $143.3M with 133 transactions in 2019 is down 23.4% compared to sales in 2018 of 183 transactions worth $187.1M. Residential Real Estate sales of $2.1B in 2019 is up 4.3% compared to sales in 2018 of $2B. New commercial real estate development projects include 4 apartment projects for 171 units in Vail, 3 apartment project in Avon for 340 units under construction, 2 apartment projects in Edwards for 500 units is in the approval process, 7 apartment projects in Eagle for 1,598 units of which 3 projects are under construction, 4 apartment projects in Gypsum for 1075 units of which 2 projects are under construction. There are a total of 20 apartment construction projects worth 3,684 units coming on to the market.

VAIL/EAGLE COUNTY MARKET UPDATE

Item
2018
2019
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY – Eagle County (Source – LTGC)
Item:
2018:
2019:
% +/- :
Commercial Sales Volume
$187.1M
$143.3M
-23.4%
Item:
2018:
2019:
% +/- :
Commercial Transactions
183
133
-27.3%
VELOCITY – Vail (Source – VBR)
Item:
2018:
2019:
% +/- :
Commercial Sales Volume
$33.1M
$21.8M
33.8%
Item:
2018:
2019:
% +/- :
Commercial Transactions
66
39
-41%
SALES TAX INDICATORS:
Item:
2018:
2019:
% +/- :
Eagle County
$13.8M
$15.8M
14.5%
Item:
2018:
2019:
% +/- :
Vail
$27.9M
$29.3M
5.2%
Item:
2018:
2019:
% +/- :
Avon (11 Months Reported)
$7.2M
$7.6M
5.6%
Item:
2018:
2019:
% +/- :
Eagle (9 Months Reported)
3.6M
4M
10.7%
Item:
2018:
2019:
% +/- :
Gypsum
$5.2M
$5.8M
11.2%
RESIDENTIAL REAL ESTATE – Eagle County (Source – LTGC)
Item:
2018:
2019:
% +/- :
Residential Total Sales
$2B
$2.1B
4.3%
Item:
2018:
2019:
% +/- :
Transactions
1,777
1,790
1%
RESIDENTIAL REAL ESTATE – Vail (Source – VBR)
Item:
2018:
2019:
% +/- :
Residential Total Sales
$1.66B
$1.75B
5.4%
Item:
2018:
2019:
% +/- :
Transactions
1,353
1,351
0%
DEVELOPMENTS
  • 4 apartment projects for 171 units in Vail
  • 3 apartment project in Avon for 340 units under construction
  • 2 apartment projects in Edwards for 500 units is in the approval process
  • 7 apartment projects in Eagle for 1,598 units of which 3 projects are under construction
  • 4 apartment projects in Gypsum for 1075 units of which 2 projects are under construction
  • There are a total of 20 apartment construction projects worth 3,684 units coming on to the market

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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.