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Vail/Eagle County Market Update – November 2019

Commercial Real Estate sales volume of $105.3M with 105 transactions YTD in 2019 is down 18.9% compared to sales YTD in 2018 with 127 transactions worth $129.8M. Residential Real Estate sales for $1.6B YTD in 2019 is up 14% compared to sales YTD in 2018 of $1.4B. 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
Q3 2018 YTD
Q3 2019 YTD
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY – Eagle County (Source – LTGC)
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Commercial Sales Volume
$129.8M
$105.3M
-18.9%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Commercial Transactions
127
105
-17.3%
VELOCITY – Vail (Source – VBR)
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Commercial Sales Volume
$22.8M
$28.1M
23.2%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Commercial Transactions
52
52
0%
SALES TAX INDICATORS:
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Eagle County (8 Months Reported)
$11M
$12M
9%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Vail (9 Months Reported)
$21.2M
$22.5M
6.1%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Avon (8 Months Reported)
$5.5M
$5.8M
5.4%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Eagle (January – March Only)
1.2M
1.2M
0%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Gypsum (8 Months Reported)
$4M
$4.4M
10%

RESIDENTIAL REAL ESTATE – Eagle County (Source – LTGC)
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Residential Total Sales
$1.4B
$1.6B
14%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Transactions
1,000
865
-13.5%
RESIDENTIAL REAL ESTATE – Vail (Source – VBR)
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Residential Total Sales
$1.2B
$1.2B
0%
Item:
Q3 2018 YTD:
Q3 2019 YTD:
% +/- :
Transactions
992
979
-1.3%
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.