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

Friday, January 25, 2013

2012 home sales: Best in 5 years

From CNNMoney

Steady December home sales capped the best year for the U.S. real estate market in five years, according to an industry trade group report Tuesday.
The National Association of Realtors said that December sales of previously-owned homes came in just slightly below November's sales pace, but up 12.8% from a year ago. That brought full-year sales to 4.65 million, up 9% from 2011 and the best year for home sales since 2007, when there were 5 million homes sold just before the start of the recession.
Sales are being helped by a combination of strong market fundamentals -- near record low mortgage rates, lower unemployment and a rebound in home prices, all of which are bringing in buyers into the market who had been waiting for it to hit bottom. The mortgage rates and years of depressed home prices have also combined to create the most affordable housing market on record, according to the Realtors group.
And the Realtors are predicting strong sales should continue into 2013 and beyond. It has a forecast for 5.1 million existing home sales this year, and 5.4 million next year.
The improved demand for homes in December led to the inventory of homes for sale to fall to 1.82 million homes on the market, the lowest supply since January 2001. One factor in tightening supplies is a drop in foreclosures and other distressed home sales, which made up only 24% of home sales in December compared to 32% a year ago. The tighter supply, and the drop in distressed sales, have helped to lift home prices so that the median sales price for the year rose to $176,600, up 6.3% from 2011. That's the biggest gain in prices in since the bubble year of 2005.
The rebound in the market for previously-owned homes is also showing up in the market for new homes, where sales rebounded to their highest levels since 2009, while housing starts reached the highest level since 2008.  

Monday, January 14, 2013

February Calendar of Events

  • 3rd               Beaver Creek Snowshoe
  • 5th               Second City Comedy Company
  • 7th-10th       Winter Mountain games       
  • 10th             Victor Wooten
  • 12th             Air Supply
  • 13th             The 5 Browns
  • 15th-18th     PrezFest at Beaver Creek
  • 19th             Aspen/Santa Fe Ballet
  • 20th             Cyrille Aimee & the Guitar Heroes
  • 21st             Todd Oliver's Dogs Gone Wild
  • 23rd             Laser Spectacular with Music by Pink Floyd
  • 25th-3/2       Burton US Open
  • 27th             Monty Python Spamalot

Monday, January 7, 2013

Eagle County real estate numbers continue to improve

From the Vail Daily-

Eagle County real estate numbers continue to show strength over 2011 numbers, according to data released this week by Land Title Guarantee Co. in Eagle. There were 154 transactions with $135 million in dollar volume for November. The previous year, there were 121 transactions and $124.9 million in sales.

The under $500,000 category for November was the most active with 80 residential sales, accounting for 61 percent of the transactions and 19 percent of the total dollar volume.

Year-to-date, this brings the total to 1,518 transactions and $1.28 billion in dollar volume through November, a 24 percent increase over 2011 in both categories. The year-to-date overall average sales price is $858,266.

There were 22 bank sales in November, bringing the year's total through November to 288 and more than $86 million in dollar volume.

Commercial transactions have also picked up with nine sales in November and 69 transactions year-to-date.

The high-end properties over $4 million continue to make an impact with six transactions in November. The highest of these sales was a Strawberry Park home in Beaver Creek which sold for $11.9 million.

Among other highlights:

• The average price for a single family home was $1,169,601.

• 82 percent of the transactions in Eagle County sold for less than $1 million.

• Eagle and Gypsum accounted for nearly 30 percent of all transactions.