Submitted by pete@vail.net on Fri, 08/12/2011 - 3:15pm
I recently reported that Eagle County Real Estate in 2011 was looking a lot like 2010. This is true in terms of transaction numbers. However, one significant and welcome difference is that inventory levels are down roughly 25%. Vail Racquet Club has lower inventory as well. VRC currently has 13 active listings; last year at this time there were 25 listings. Dollar volume year to date is $3,669,500 with 10 transactions vs. $2,782,000 with 7 transactions in 2010 ytd.
Absorption Rate; how long will it take to get through this inventory?
As of August 11, there are 5 one bedroom condos listed, ranging in price from $225,000 to $319,000. There have been 8 sales of 1 bedrooms in the past 12 months. This works out to 0.67 sales per month and a 7.5 month supply of 1 bedroom condominiums at Vail Racquet Club.
There are 4 two bedroom condos listed, ranging in price from $425,000 to $495,000. There have been 8 sales of 2 bedroom condos at VRC over the last year. This also works out to 0.67 sales per month and a 6 month supply of 2 bedroom condos.
There are 4 townhomes for sale from $569,000 to $650,000. Based on 3 sales in the last year, there is a 16 month supply of Racquet Club Townhomes. That’s 0.25 sales per month.
When VRC is taken out of the equation, East Vail has a 19 month supply of townhomes and condos in all price ranges. The above supply formula was based on sales from the 12 month period prior to August 11, 2011. All data was taken from the Vail Board of Realtors MLS.
Price per foot:
Price per foot is calculated by dividing the price, whether it be the list price or sold price, by the living area square footage. Valuing a home purely by the average price per foot of neighboring homes can be dangerous, but it is one of the few tangibles that can be used in estimating the value of a property. Many factors influence the value of a home; including location, view, finish level, and furnishings. Having said that, here is a breakdown of price per foot at VRC. The average sold price per foot for a Vail Racquet Club 1 bedroom condo is $445, while the average list price per foot is $479. The average sold price per foot for a 2 bedroom condo is $408.75 , while the average list price per foot is $525.75 . The average sold price per foot of a Racquet Club Townhome is $348, while the average list price per foot is $396.80. Again the data is taken from the Vail MLS in the 12 month period prior to Aug 11, 2011
Absorption Rate; how long will it take to get through this inventory?
As of August 11, there are 5 one bedroom condos listed, ranging in price from $225,000 to $319,000. There have been 8 sales of 1 bedrooms in the past 12 months. This works out to 0.67 sales per month and a 7.5 month supply of 1 bedroom condominiums at Vail Racquet Club.
There are 4 two bedroom condos listed, ranging in price from $425,000 to $495,000. There have been 8 sales of 2 bedroom condos at VRC over the last year. This also works out to 0.67 sales per month and a 6 month supply of 2 bedroom condos.
There are 4 townhomes for sale from $569,000 to $650,000. Based on 3 sales in the last year, there is a 16 month supply of Racquet Club Townhomes. That’s 0.25 sales per month.
When VRC is taken out of the equation, East Vail has a 19 month supply of townhomes and condos in all price ranges. The above supply formula was based on sales from the 12 month period prior to August 11, 2011. All data was taken from the Vail Board of Realtors MLS.
Price per foot:
Price per foot is calculated by dividing the price, whether it be the list price or sold price, by the living area square footage. Valuing a home purely by the average price per foot of neighboring homes can be dangerous, but it is one of the few tangibles that can be used in estimating the value of a property. Many factors influence the value of a home; including location, view, finish level, and furnishings. Having said that, here is a breakdown of price per foot at VRC. The average sold price per foot for a Vail Racquet Club 1 bedroom condo is $445, while the average list price per foot is $479. The average sold price per foot for a 2 bedroom condo is $408.75 , while the average list price per foot is $525.75 . The average sold price per foot of a Racquet Club Townhome is $348, while the average list price per foot is $396.80. Again the data is taken from the Vail MLS in the 12 month period prior to Aug 11, 2011
Vail Racquet Club Real Estate Market Update
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