Keeping you informed on market statistics, real estate news, and events around town

Friday, February 11, 2011

Eagle County home sales rebounded in 2010

From the Vail Daily:

But upper, lower valleys are very different markets these days

EAGLE COUNTY, Colorado — With final numbers for the year in hand, 2010 looks like a good news/bad news year for local real estate.

First, the good news:

• Transactions were up by one-third over 2009.
• Total sales volume increased by two-thirds over 2009.
• Whether or not prices have hit bottom, buyers are coming back, if not in droves.
• Young people are finding it easier to afford a first home.

Now the bad news:

• Foreclosures hit a new record in 2010.
• A lot of property has sold at deep discounts from boom-years highs.
• A lot of residents owe much more than their homes are worth.

The 2010 real estate market also showed a real split between resort areas and downvalley communities.