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Let's have a look behind the numbers...
> May through July, the volume of units for sale increased from 513 to 703 ( 27% and the concern for a softening market)
> July thru October, 440 units went under contract.
> By late September, the pace of sales proved to be strong enough to buoy listing prices/values. For those properties that were not getting interest, price reductions were implemented; a routine end-of-summer strategy usually implemented by those who were overpriced to begin with.
> In October, the pace of sales and the seasonal withdrawal of 65 listings has reduced the inventory back down where it was in May. Consequently, selling competition decreases.
> THAT is what differentiates the Vail Valley from 'Main Street'... when sellers do not need to sell, they don’t sell… they do not drop their prices to stimulate a sale. They hold out for tomorrow because they are financially strong enough to do so.
Does that suck if you are a prospective buyer? No. That is exactly why you want to own here.
Despite that average sold price of $2.6MM, there is indeed ample opportunity to find a great property below that number. Clear objectives, process preparation, and my assiduous hunting are the keys to getting it done. Talk to me about it.
As of today, between Edwards - East Vail, there are…
90 condos/townhomes for sale price between $500 – 1.5MM
39 duplexes/single family homes priced between $800K – 2.5MM
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