REAL ESTATE NEWS | EAGLE COUNTY
Return to Fundamentals as Market Remains Active
2024 culminated with Eagle County dollar volume increasing an impressive 14.4% from 2023 while unit sales slipped 7%. This data indicates that prices have remained strong despite headwinds that include higher interest rates and a presidential election cycle that generally reduces sales. The lower residential sales can be primarily attributed to the interest rate environment combined with higher prices. Rates have kept those who currently have lower mortgage rates from making a move and new entrants into the market from purchasing their first home.
The new year should afford home buyers an interest rate reprieve (economists expect rates to settle in the low 6% - below historic norms) and buyers will be greeted with more inventory (already up 18% from the start of 2024) which should help normalize appreciation rates in some areas and create a favorable environment for buyers.
As the graph below demonstrates, we are returning to a more predictable, cyclical market where inventory and sales are adjusting to pre-pandemic levels and timing. What is important to remember is that our dynamic market is unique, and this macro-view does not speak for every unique market. The resorts will perform differently than our bedroom communities, Beaver Creek’s market is different than Vail Village just as Eagle will trade different than Edwards.
Let’s connect and discuss your 2025 real estate goals. I would be happy to present in-depth information about your property or area of interest. Until then, have a great start to the New Year!
Market data from the Vail MLS. All statistics are deemed reliable but not guaranteed and BHHS may not have participated in each reported sale. Please contact me for statistics in your specific neighborhood. I have some great reports I can share with you about your neighborhood or one that you are interested in.
