Vail Valley Real Estate Market Report – March 2020

May 26, 2020
Yoga in Vail Village

 

 According to Land Title Guarantee Company in Vail: “Eagle County real estate started off strong through the first two weeks in March which helped finish the month with $148,690,532 in total dollar volume and 114 transactions. Eagle County is now 19% higher in dollar volume and 4% lower in transaction year to date compared to 2019.”

Our market is in flux right now. With COVID taking center stage, we are seeing a noticeable reduction in Buyer activity but also a similar, corresponding reduction in overall inventory of listings. So while buyers might think waiting is the best course of action, the buyers that are engaged in the market now are finding the best properties out of the limited supply. Interest rates are as low as anyone could have imagined and opportunities to find the perfect home abound. There is no way to predict which way the market will go over the spring and summer months. What we do know, is that we will likely see noticeable increased demand from people who are realizing they can work from home allowing them to live in the mountains, away from crowded cities, public transportation, apartment buildings with elevators and other risky lifestyle factors. We are hearing regularly from clients who want space inside and outside of their homes. Who want to be able to walk out of their doors into wilderness. The Vail Valley will increasingly become an even more desirable place to live as we navigate through this pandemic. Therefore, our advice to our buyers is to buy now before Buyer competition builds. 

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