Monthly Indicators
February 2017
Monthly Snapshot
New Listings were down 2.9 percent for the Single Family-Duplex category and 29.7 percent for the Townhouse-Condo category. Pending Sales increased 28.6 percent for Single Family-Duplex but decreased 19.4 percent for Townhouse- Condo.
+ 29.3%
– 30.5%
+ 18.6%
The Median Sales Price was up 19.7 percent to $605,000 for the Single Family- Duplex category and 3.6 percent to $540,000 for the Townhouse-Condo category. Days on Market increased 49.3 percent for Single Family-Duplex and 26.4 percent for Townhouse-Condo.
Residential real estate activity in Vail Board of REALTORS® MLS, comprised of single-family homes, duplexes, townhomes and condominiums. Percent changes are calculated using rounded figures.
Unemployment has reached pre-recession levels, and Americans remain optimistic about finding quality employment. This matters because job growth and higher paychecks fuel home purchases. Unfortunately, that won’t matter for potential buyers if price appreciation outpaces income growth and if mortgage rates continue their upward trend. Sellers are getting a generous number of offers in this market. The worry for sellers then becomes that there will not be a generous number of homes to choose from when they become buyers.
Single Family-Duplex Activity Overview 2 Townhouse-Condo Activity Overview 3 New Listings 4 Pending Sales 5 Closed Sales 6 Median Sales Price 7 Average Sales Price 8 Percent of List Price Received 9 Days on Market Until Sale 10 Housing Affordability Index 11 Inventory of Active Listings 12 Months Supply of Inventory 13 All Properties Activity Overview 14 Closed Sales and Inventory by Price Range 15 Glossary of Terms 16
One-Year Change in
One-Year Change in
One-Year Change in
Closed Sales All Properties
Active Listings All Properties
Median Sales Price All Properties
Current as of March 6, 2017. All data from the Vail Board of REALTORS® MLS. Report © 2017 ShowingTime.
Single Family-Duplex Activity Overview
Key metrics for Single Family and Duplex properties by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics
Historical Sparkbars
2-2016 2-2017
Percent Change
YTD 2016
YTD 2017
Percent Change
New Listings
69 67
– 2.9%
111
125
+ 12.6%
Pending Sales
42 54
+ 28.6%
73
113
+ 54.8%
Closed Sales
25 32
+ 28.0%
47
66
+ 40.4%
Median Sales Price
$505,500 $605,000
+ 19.7%
$530,000
$707,875
+ 33.6%
Average Sales Price
$861,165 $1,216,136
+ 41.2%
$865,003
$1,967,286
+ 127.4%
Pct. of List Price Received
95.5%
95.5%
0.0%
95.4%
95.9%
+ 0.5%
Days on Market Until Sale
146
218
+ 49.3%
143
194
+ 35.7%
Housing Affordability Index
73
58
– 20.5%
69
50
– 27.5%
Inventory of Active Listings
515
387
– 24.9%
—
—
—
Months Supply of Inventory
10.2
7.1
– 30.4%
—
—
—
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
Current as of March 6, 2017. All data from the Vail Board of REALTORS® MLS. Report © 2017 ShowingTime. | 2
Townhouse-Condo Activity Overview
Key metrics for Townhouse and Condo properties by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics
Historical Sparkbars
2-2016
2-2017
Percent Change
YTD 2016
YTD 2017
Percent Change
New Listings
74
52
– 29.7%
148
110
– 25.7%
Pending Sales
62
50
– 19.4%
102
112
+ 9.8%
Closed Sales
33
43
+ 30.3%
83
80
– 3.6%
Median Sales Price
$521,250
$540,000
+ 3.6%
$600,000
$517,500
– 13.8%
Avg. Sales Price
$1,000,788 $1,049,403
+ 4.9%
$934,414
$939,998
+ 0.6%
Pct. of List Price Received
95.6%
96.7%
+ 1.2%
95.9%
96.7%
+ 0.8%
Days on Market Until Sale
144
182
+ 26.4%
182
174
– 4.4%
Affordability Index
70
65
– 7.1%
61
68
+ 11.5%
Active Listings
486
307
– 36.8%
—
—
—
Months Supply
8.7
5.0
– 42.5%
—
—
—
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
2-2014
2-2015
2-2016
2-2017
Current as of March 6, 2017. All data from the Vail Board of REALTORS® MLS. Report © 2017 ShowingTime. | 3
New Listings
A count of the properties that have been newly listed on the market in a given month.
February
Year to Date
Single Family- Year-Over-Year New Listings Duplex Change
Townhouse- Year-Over-Year Condo Change
43
47
2015
2016
2017
2015
2016
2017
2015
2016
2017 2015
2016
2017
Sep-2016 67 Oct-2016 46 Nov-2016 42 Dec-2016 49 Jan-2017 58 Feb-2017 67 12-Month Avg 80
+3.5% -11.8% -8.0% +13.5% -16.9% +38.1% -2.9% -1.0%
+ 22.9%
– 25.7%
69
67
+ 60.5%
+ 25.0%
– 3.5%
+ 24.4%
Single Family-Duplex
Townhouse-Condo
– 2.9%
– 14.5%
+ 57.4%
– 29.7%
+ 12.6% + 10.2%
Single Family-Duplex Townhouse-Condo
Historical New Listings by Month
Single Family-Duplex
Townhouse-Condo
200 175 150 125 100
75 50 25
1-2010 1-2011
1-2012
1-2013 1-2014
1-2015
1-2016
1-2017
74
148
Mar-2016 68 -2.9% Apr-2016 79 +2.6% May-2016 102 -2.9% Jun-2016 186 +2.2% Jul-2016 112 -8.2% Aug-2016 88
73 -24.0% 57 -9.5% 88 -9.3% 125 +10.6% 118 +20.4% 68 -31.3% 56 -6.7% 38 -34.5% 35 -45.3% 64 +14.3% 58 -21.6% 52 -29.7% 69 -12.6%
115 52
111
125 119
110
Current as of March 6, 2017. All data from the Vail Board of REALTORS® MLS. Report © 2017 ShowingTime. | 4
Pending Sales
A count of the properties on which offers have been accepted in a given month.
February
Year to Date
Single Family- Duplex
Year-Over-Year Townhouse- Change Condo
Year-Over-Year Change
80
60
40
20
28
76 50 41 45 62 50 62
54 42
102
2015 2016 2017
2015 2016
2017
2015
2016 2017 2015
2016 2017
-26.3% +50.0% +28.6% -14.9% +55.0% -19.4% Single Family-Duplex Townhouse-Condo
-7.9% +4.3% +54.8% -14.6% +24.4% +9.8%
Historical Pending Sales by Month
Single Family-Duplex
Townhouse-Condo
120
100
0
1-2010 1-2011
1-2012
1-2013
1-2014
1-2015 1-2016
1-2017
40
70
73
62
113
112
Mar-2016 Apr-2016 May-2016 Jun-2016 Jul-2016 Aug-2016 Sep-2016 Oct-2016 Nov-2016 Dec-2016 Jan-2017 Feb-2017 12-Month Avg
+36.7% 59 -15.2% 62 -13.8% 47
50
82
-4.5% 64 -14.0% 83 +47.5% 104
Single Family-Duplex
Townhouse-Condo
Pending Sales
67
56
50
64
80
87
69 +38.0% 44 -26.7% 38 +22.6% 33 +73.7% 59 +90.3% 54 +28.6% 58 +12.2%
+20.4% +1.6% -11.3% +33.3% +10.7% +26.8% +11.8% -28.6% -14.6% +18.4% +55.0% -19.4% +7.1%
Current as of March 6, 2017. All data from the Vail Board of REALTORS® MLS. Report © 2017 ShowingTime. | 5
Closed Sales
A count of the actual sales that closed in a given month.
February
Year to Date
Single Family- Year-Over-Year Duplex Change
Townhouse- Year-Over-Year Condo Change
60
40
20
27 25
50
47
2015
2016
2017
2015 2016
2017 2015
2016
2017
2015
2016
2017
– 10.0%
– 7.4%
+ 28.0%
0.0% 0.0%
+ 30.3% – 9.1%
– 6.0%
+ 40.4%
+ 14.3%
+ 15.3%
– 3.6%
Single Family-Duplex
Townhouse-Condo
Single Family-Duplex
Townhouse-Condo
Historical Closed Sales by Month
Single Family-Duplex
Townhouse-Condo
100
80
0
1-2010 1-2011
1-2012
1-2013
1-2014
1-2015 1-2016
1-2017
32
43 33 33
83
80
Mar-2016 Apr-2016 May-2016 Jun-2016 Jul-2016 Aug-2016 Sep-2016 Oct-2016 Nov-2016 Dec-2016 Jan-2017 Feb-2017 12-Month Avg
23 -30.3% 54 +28.6% 69 +60.5% 59 -26.3% 42 -44.0% 81 +22.7% 74 -6.3% 88 +79.6% 53 +17.8% 41 -12.8% 34 +54.5% 32 +28.0% 54 +7.3%
65 +75.7% 51 +30.8% 66 +15.8% 60 -7.7% 43 -29.5% 77 +30.5% 85 +14.9% 83 +23.9% 70 +14.8% 51 -20.3% 37 -26.0% 43 +30.3% 61 +9.6%
72 66
Closed Sales
Current as of March 6, 2017. All data from the Vail Board of REALTORS® MLS. Report © 2017 ShowingTime. | 6
Median Sales Price
Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
February
Year to Date
Single Family- Duplex
Year-Over-Year Townhouse- Change Condo
Year-Over-Year Change
$1,121,250
$948,125
Mar-2016 Apr-2016 May-2016 Jun-2016 Jul-2016 Aug-2016 Sep-2016 Oct-2016 Nov-2016 Dec-2016 Jan-2017 Feb-2017 12-Month Avg*
$742,500 $797,900 $633,500 $788,000 $710,000 $790,000 $998,293 $820,000 $795,000 $899,000 $782,500 $605,000 $789,000
+7.6% $590,000 +6.4% $550,000 -31.9% $402,500 +33.0% $476,000 +18.3% $388,000 +12.9% $456,000 +42.6% $509,900 +27.1% $455,000 +20.5% $535,000 +40.5% $550,000 +33.2% $505,000 +19.7% $540,000 +22.8% $480,000
-21.9% +8.3% -30.0% +14.7% -2.8% +21.6% +3.8% -2.2% +1.1% +4.3% -23.8% +3.6% 0.0%
2015
2016
2017
2015
2016
2017
2015
2016
2017
2015
2016
2017
+ 28.3%
– 54.9%
+ 19.7%
– 8.3%
– 35.0%
+ 3.6%
+ 26.4%
– 44.1%
+ 33.6%
+ 2.4%
– 29.4%
– 13.8%
$605,000 $505,500
$530,000
$517,500
Single Family-Duplex
Townhouse-Condo
Single Family-Duplex
Townhouse-Condo
* Median Sales Price for all properties from March 2016 through February 2017. This is not the average of the individual figures above.
Historical Median Sales Price by Month
Single Family-Duplex
Townhouse-Condo
$2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000
$750,00
Leave a Reply