Vail Valley / Eagle County
Market Report August 2014 - YTD
www.TeamBlackBear.com Info@TeamBlackBear.com 970.337.7777
August 2014 Sales by Area Area
# Sold
% of Sold
Total $ Volume
% of $ Volume
Total*
110
100%
$70,179,824
100%
Average Sold Price
Average AVG % of List Price / SF DOM Price
$ 637,998 $ 359.41 121
94.84%
East Vail
11
10.0% $ 5,621,700
8.01% $ 511,064 $ 420.22
85
95.74%
Vail Village
2
1.8%
$ 1,696,800
2.42% $ 848,400 $ 913.50
323
95.33%
Eagle‐Vail
3
2.7%
$ 1,275,000
1.82% $ 425,000 $ 260.20
47
93.65%
Beaver Creek
6
5.5%
$ 7,535,000
10.74% $ 1,255,833 $ 571.30
402
93.72%
Bachelor Gulch
0
0.0%
$ ‐
0
0.00%
Arrowhead
7
6.4%
$ 9,370,000
13.35% $ 1,338,571 $ 501.43
219
87.87%
Singletree
6
5.5%
$ 4,532,500
6.46% $ 755,417 $ 286.00
42
96.62%
Edwards
4
3.6%
$ 2,076,225
2.96% $ 519,056 $ 317.03
131
99.17%
Homestead
5
4.5%
$ 2,224,600
3.17% $ 444,920 $ 244.45
89
96.02%
Lake Creek Valley
0
0.0%
$ ‐
0.00% $ ‐
0
0.00%
Cordillera
1
0.9%
$ 1,410,000
2.01% $ 1,410,000 $ 304.40
373
94.31%
Cordillera Valley Club
0
0.0%
$ ‐
0.00% $ ‐
$ ‐
0
0.00%
Bellyache Wolcott
0
0.0%
$ ‐
0.00% $ ‐
$ ‐
0
0.00%
Eagle
5
4.5%
$ 1,387,000
1.98% $ 277,400 $ 167.88
9
99.11%
Eagle Ranch
7
6.4%
$ 3,166,000
4.51% $ 452,286 $ 228.40
61
97.22%
Gypsum
8
7.3%
$ 2,228,000
3.17% $ 278,500 $ 143.22
20
97.38%
Cotton Ranch
6
5.5%
$ 2,419,000
3.45% $ 403,167 $ 166.13
170
97.86%
0.00% $ ‐
$ ‐
$ ‐
If your area is not listed please contact us and we will gladly provide those stats. * Total is for all residential sales in the MLS. Some areas have been omitted but their numbers are reflected in the total. Information contained in this report is not guaranteed to be accurate. All statistical data is supplied by the Vail Board of Realtors and is deemed reliable but not guaranteed and individual verification is recommended.
Monthly Indicators August 2014 Most local markets continue to recover from a soft patch earlier this year. The macro trend is still positive; the micro trend involves more moderate pinching up and down the month-to-month timeline. This is not uncommon in a balanced market, but it's been so long since we've seen one that we're watching it with perhaps too much trepidation. Metrics to watch include inventory and prices, but also days on market, months' supply and percent of list price received at sale. Declines in pending and closed sales activity may reflect strong decreases at lower price points and may not indicate softening demand. New Listings were up 9.7 percent for single family/duplex homes but decreased 35.4 percent for townhouse-condo properties. Pending Sales decreased 13.0 percent for single family/duplex homes but increased 39.1 percent for townhouse-condo properties. The Median Sales Price was down 0.1 percent to $455,000 for single family/duplex homes but increased 3.3 percent to $465,000 for townhousecondo properties. Months Supply of Inventory increased 12.4 percent for single family/duplex units but decreased 25.2 percent for townhouse-condo units. Sustained job growth, lower mortgage rates and a slow rise in the number of homes for sale appear to have unleashed at least some pent-up demand. Since housing demand relies heavily on an economy churning out good jobs, it's encouraging to see second quarter GDP growth revised upwards to a 4.2 percent annualized rate and stronger-than-expected job growth in recent months. Further improvements are still needed by way of wage growth and consumer confidence but recovery continues.
Monthly Snapshot - 13.6%
- 14.9%
+ 0.5%
One-Year Change in Closed Sales All Properties
One-Year Change in Active Listings All Properties
One-Year Change in Median Sales Price All Properties
Residential real estate activity in Vail Board of REALTORS速 MLS, comprised of single-family properties, townhomes and condominiums.. Percent changes are calculated using rounded figures.
Single Family/Duplex Activity Overview Townhouse-Condo Activity Overview New Listings Pending Sales Closed Sales Median Sales Price Average Sales Price Percent of List Price Received Days on Market Until Sale Housing Affordability Index Inventory of Active Listings Months Supply of Inventory All Properties Activity Overview Closed Sales and Inventory by Price Range Glossary of Terms
2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
Current as of September 7, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing.
Single Family/Duplex Activity Overview Key metrics for Single Family properties by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics
Historical Sparkbars
New Listings 8-2011
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
Days on Market
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
69
60
- 13.0%
390
366
- 6.2%
60
51
- 15.0%
357
316
- 11.5%
$455,500
$455,000
- 0.1%
$550,000
$582,500
+ 5.9%
$589,896
$745,265
+ 26.3%
97.0%
96.2%
- 0.8%
95.7%
95.7%
0.0%
111
110
- 0.9%
151
160
+ 6.0%
72
75
+ 4.2%
60
59
- 1.7%
579
544
- 6.0%
--
--
--
11.3
12.7
+ 12.4%
--
--
--
$902,986 $1,219,974
+ 35.1%
8-2014
Months Supply 8-2011
- 4.9%
8-2014
Active Listings 8-2011
644
8-2014
Affordability Index 8-2011
677
8-2014
` 8-2011
+ 9.7%
8-2014
Pct. of List Price Received 8-2011
79
8-2014
Average Sales Price 8-2011
72
Percent Change
8-2014
Median Sales Price 8-2011
Percent Change
8-2014
Closed Sales 8-2011
8-2014
8-2014
Pending Sales 8-2011
YTD 2013 YTD 2014
8-2013
8-2014
Current as of September 7, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 2
Townhouse-Condo Activity Overview Key metrics for Townhouse-Condo properties by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics
Historical Sparkbars
New Listings 8-2011
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
64
89
+ 39.1%
380
454
+ 19.5%
65
57
- 12.3%
338
374
+ 10.7%
$450,000
$465,000
+ 3.3%
$414,000
$500,000
+ 20.8%
$910,167
$557,041
- 38.8%
$769,668
$998,732
+ 29.8%
94.0%
96.6%
+ 2.8%
94.8%
95.3%
+ 0.5%
235
134
- 43.0%
210
195
- 7.1%
73
74
+ 1.4%
80
69
- 13.8%
592
452
- 23.6%
--
--
--
12.3
9.2
- 25.2%
--
--
--
8-2014
Months Supply 8-2011
+ 2.4%
8-2014
Active Listings 8-2011
597
8-2014
Affordability Index 8-2011
583
8-2014
Days on Market 8-2011
- 35.4%
8-2014
Pct. of List Price Received 8-2011
51
8-2014
Average Sales Price 8-2011
79
Percent Change
8-2014
Median Sales Price 8-2011
Percent Change
8-2014
Closed Sales 8-2011
8-2014
8-2014
Pending Sales 8-2011
YTD 2013 YTD 2014
8-2013
8-2014
Current as of September 7, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 3
New Listings A count of the properties that have been newly listed on the market in a given month.
Year to Date
August 85 79 72
79
677
661
71
644
603
583
597
51
2012
2013
+ 11.8% - 15.3%
2014
2012
2013
2014
2012
2013
2014
2012
2013
2014
+ 9.7%
+ 7.6%
+ 11.3%
- 35.4%
+ 2.0%
+ 2.4%
- 4.9%
+ 1.9%
- 3.3%
+ 2.4%
Single Family/Duplex
Townhouse-Condo
Single Family/Duplex
New Listings
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Sep-2013
57
+21.3%
48
-14.3%
Oct-2013
62
+29.2%
53
-10.2%
Nov-2013
40
-24.5%
49
-21.0%
Dec-2013
33
-37.7%
66
0.0%
Jan-2014
57
+7.5%
53
-3.6%
Feb-2014
35
-48.5%
55
0.0%
Mar-2014
67
+17.5%
74
+17.5%
Apr-2014
77
+16.7%
72
+53.2%
May-2014
99
+12.5%
91
+24.7%
Jun-2014
141
-4.1%
112
-3.4%
Jul-2014
89
-29.4%
89
-6.3%
Aug-2014
79
+9.7%
51
-35.4%
12-Month Avg
70
-4.8%
68
-1.6%
Townhouse-Condo
Historical New Listings by Month
Single Family/Duplex
200
Townhouse-Condo
175 150 125 100 75 50 25 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of September 7, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 4
Pending Sales A count of the properties on which offers have been accepted in a given month.
Year to Date
August 89
454 409
390
77 69
68 60
2012
2013
+ 45.3% - 10.4%
Pending Sales
414 380
366
64
2014
2012
2013
2014
2012
2013
2014
2012
2013
2014
- 13.0%
+ 58.1%
- 5.9%
+ 39.1%
+ 44.5%
- 4.6%
- 6.2%
+ 30.6%
- 8.2%
+ 19.5%
Single Family/Duplex
Townhouse-Condo
Single Family/Duplex
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Sep-2013
53
-10.2%
66
+37.5%
Oct-2013
37
-42.2%
45
-23.7%
Nov-2013
38
-2.6%
30
-11.8%
Dec-2013
22
-26.7%
30
-16.7%
Jan-2014
38
-7.3%
49
+19.5%
Feb-2014
37
-9.8%
47
+34.3%
Mar-2014
49
-22.2%
50
+4.2%
Apr-2014
42
-16.0%
71
+82.1%
May-2014
37
+23.3%
35
-32.7%
Jun-2014
43
-10.4%
42
+20.0%
Jul-2014
60
+25.0%
71
+7.6%
Aug-2014
60
-13.0%
89
+39.1%
12-Month Avg
43
-11.3%
52
+12.2%
Townhouse-Condo
Historical Pending Sales by Month
Single Family/Duplex
100
Townhouse-Condo
80
60
40
20
0 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of September 7, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 5
Closed Sales A count of the actual sales that closed in a given month.
Year to Date
August 66 61
65
60
357 57
330
354 316
374 338
51
2012
2013
2014
2012
2013
2014
2012
2013
2014
2012
2013
2014
+ 79.4%
- 1.6%
- 15.0%
+ 53.5%
- 1.5%
- 12.3%
+ 39.8%
+ 8.2%
- 11.5%
+ 14.2%
- 4.5%
+ 10.7%
Single Family/Duplex
Townhouse-Condo
Single Family/Duplex
Closed Sales
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Sep-2013
54
-26.0%
60
-13.0%
Oct-2013
57
-16.2%
72
-1.4%
Nov-2013
42
-31.1%
42
-10.6%
Dec-2013
45
-21.1%
39
-20.4%
Jan-2014
25
+8.7%
30
-3.2%
Feb-2014
30
-16.7%
33
+3.1%
Mar-2014
28
-24.3%
51
+45.7%
Apr-2014
47
-11.3%
51
+21.4%
May-2014
45
-22.4%
59
+15.7%
Jun-2014
46
+9.5%
44
+10.0%
Jul-2014
44
-8.3%
49
+16.7%
Aug-2014
51
-15.0%
57
-12.3%
12-Month Avg
43
-16.6%
49
+1.9%
Townhouse-Condo
Historical Closed Sales by Month
Single Family/Duplex
80
Townhouse-Condo
60
40
20
0 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of September 7, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 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.
Year to Date
August $455,500 $455,000
$450,000
Median Sales Price
$465,000
$410,000
$550,000 $364,000
$582,500 $500,000
$481,313 $414,000 $368,000
2012
2013
- 28.1% + 11.1%
2014
2012
2013
2014
2012
2013
2014
2012
- 0.1%
- 8.8%
+ 23.6%
+ 3.3%
- 4.4%
+ 14.3%
+ 5.9%
- 17.7%
Single Family/Duplex
Townhouse-Condo
Single Family/Duplex
2013
2014
+ 12.5% + 20.8%
Townhouse-Condo
Historical Median Sales Price by Month
Single Family/Duplex
TownhouseCondo
Year-Over-Year Change
Sep-2013
$780,000
+22.8%
$413,500
+12.7%
Oct-2013
$710,000
+37.2%
$450,000
+30.4%
Nov-2013
$722,000
+31.3%
$435,000
+22.5%
Dec-2013
$595,000
-6.3%
$425,300
-6.5%
Jan-2014
$545,000
+75.8%
$817,500
+107.0%
Feb-2014
$873,750
+18.6%
$875,000
+127.9%
Mar-2014
$761,000
+24.2%
$585,000
+14.3%
Apr-2014
$744,000
+31.7%
$755,000
+11.9%
May-2014
$585,000
+1.4%
$500,000
+51.5%
Jun-2014
$535,500
+16.7%
$366,250
+16.9%
Jul-2014
$557,500
+3.4%
$427,000
+2.6%
Aug-2014
$455,000
-0.1%
$465,000
+3.3%
12-Month Avg*
$647,500
+16.5%
$485,000
+24.4%
* Median Sales Price for all properties from September 2013 through August 2014. This is not the average of the individual figures above.
Single Family/Duplex
$2,000,000
Year-Over-Year Change
Townhouse-Condo
$1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of September 7, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 7
Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month.
Year to Date
August $1,053,229
Average Sales Price $1,219,974
$1,200,055 $910,167
$998,732 $902,986
$745,265
$803,274
$589,896
$769,668
$557,041
$529,681
Single Family/Duplex
2013
+ 37.4% - 44.0%
2014
2012
2013
2014
2012
2013
2014
2012
2013
2014
+ 26.3%
- 38.0%
+ 71.8%
- 38.8%
+ 11.1%
- 24.8%
+ 35.1%
- 16.1%
- 4.2%
+ 29.8%
Single Family/Duplex
Townhouse-Condo
Single Family/Duplex
Townhouse-Condo
Historical Average Sales Price by Month
Year-Over-Year Change
$1,396,172
+25.1%
$866,646
+31.7%
Oct-2013
$1,346,206
+56.0%
$722,328
-10.7%
Nov-2013
$1,406,825
+15.0%
$1,017,538
+31.3%
Dec-2013
$1,253,751
+16.6%
$878,973
-10.1%
Jan-2014
$1,205,468
+85.0%
$1,390,563
+113.2%
Feb-2014
$1,098,540
-27.4%
$1,201,270
+28.4%
Mar-2014
$1,482,573
+78.0%
$849,114
-8.4%
Apr-2014
$2,160,310
+157.1%
$1,494,230
+51.4%
May-2014
$1,239,178
+9.3%
$1,097,950
+75.4%
Jun-2014
$1,048,943
+33.1%
$720,431
+37.2%
Jul-2014
$848,849
-5.9%
$906,673
+58.7%
$745,265
+26.3%
$557,041
-38.8%
$1,270,709
+30.8%
$944,717
+21.2%
12-Month Avg*
* Average Sales Price for all properties from September 2013 through August 2014. This is not the average of the individual figures above.
Single Family/Duplex
$3,000,000
TownhouseCondo
Sep-2013
Aug-2014 2012
Year-Over-Year Change
Townhouse-Condo
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of September 7, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 8
Percent of List Price Received Percentage found when dividing a property’s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.
Year to Date
August 94.2% 97.0% 96.2%
93.7% 94.0% 96.6%
Pct. of List Price Received
93.5% 95.7% 95.7%
93.8% 94.8% 95.3%
2012
2013
2014
2012
2013
2014
2012
2013
2014
2012
2013
2014
- 0.8%
+ 3.0%
- 0.8%
0.0%
+ 0.3%
+ 2.8%
+ 0.8%
+ 2.4%
0.0%
+ 0.9%
+ 1.1%
+ 0.5%
Single Family/Duplex
Townhouse-Condo
Single Family/Duplex
Townhouse-Condo
Historical Percent of List Price Received by Month
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Sep-2013
95.1%
+1.1%
94.3%
+0.4%
Oct-2013
95.5%
+1.8%
94.1%
+0.2%
Nov-2013
95.6%
+2.1%
95.3%
+0.8%
Dec-2013
95.0%
+1.6%
95.9%
-0.2%
Jan-2014
95.9%
-0.6%
94.3%
-1.4%
Feb-2014
94.2%
+0.7%
94.0%
-1.5%
Mar-2014
96.2%
-0.1%
94.9%
-0.1%
Apr-2014
95.0%
+0.6%
93.6%
-0.6%
May-2014
96.4%
-0.4%
95.6%
+0.3%
Jun-2014
95.9%
+0.4%
95.9%
+0.8%
Jul-2014
95.4%
+0.7%
96.3%
+1.5%
Aug-2014
96.2%
-0.8%
96.6%
+2.8%
12-Month Avg*
95.5%
+0.7%
95.1%
+0.4%
* Pct. of List Price Received for all properties from September 2013 through August 2014. This is not the average of the individual figures above.
Single Family/Duplex
100.0%
Townhouse-Condo
95.0%
90.0%
85.0%
80.0%
75.0%
70.0% 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of September 7, 2014. All data from the Vail Board of REALTORSÂŽ MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 9
Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month.
Year to Date
August 235
215
210
184
179
151
195
160
134 113
111
110
2012
2013
2014
2012
2013
2014
2012
2013
2014
2012
2013
2014
- 56.2%
- 1.8%
- 0.9%
+ 24.3%
+ 31.3%
- 43.0%
- 18.2%
- 17.9%
+ 6.0%
- 4.0%
- 2.3%
- 7.1%
Single Family/Duplex
Townhouse-Condo
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Sep-2013
257
+52.1%
185
-5.6%
Oct-2013
140
-15.2%
203
-3.8%
Nov-2013
173
+9.5%
213
+5.4%
Days on Market
Single Family/Duplex
Townhouse-Condo
Historical Days on Market Until Sale by Month
Dec-2013
135
-32.2%
277
+18.9%
Jan-2014
152
-18.7%
197
+28.8%
Feb-2014
239
+22.6%
182
+16.7%
Mar-2014
180
+100.0%
341
+11.8%
Apr-2014
206
-6.8%
243
+1.7%
May-2014
200
+21.2%
158
-7.1%
Jun-2014
116
-1.7%
169
-17.2%
Jul-2014
110
-17.3%
141
-30.9%
Aug-2014
110
-0.9%
134
-43.0%
12-Month Avg*
160
+4.2%
210
-3.8%
* Days on Market for all properties from September 2013 through August 2014. This is not the average of the individual figures above.
Single Family/Duplex
500
Townhouse-Condo
400
300
200
100
0 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of September 7, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 10
Housing Affordability Index This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
August
Year to Date 100
99
88 72
75
73
74
80
75
69 60
2012
2013
2014
2012
2013
2014
2012
+ 49.2%
- 18.2%
+ 4.2%
+ 17.6%
- 27.0%
+ 1.4%
+ 11.9%
Single Family/Duplex
Townhouse-Condo
2013
- 20.0%
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Sep-2013
43
-25.9%
81
-19.8%
Oct-2013
47
-33.8%
74
-30.2%
Nov-2013
49
-26.9%
81
-22.1%
Dec-2013
57
-3.4%
79
-3.7%
Jan-2014
61
-48.3%
40
-57.0%
Feb-2014
38
-22.4%
38
-59.1%
Mar-2014
44
-24.1%
57
-18.6%
Apr-2014
45
-29.7%
44
-18.5%
May-2014
59
-3.3%
69
-34.9%
Jun-2014
64
-11.1%
94
-11.3%
Jul-2014
61
-1.6%
80
0.0%
Aug-2014
75
+4.2%
74
+1.4%
12-Month Avg*
54
+11.1%
68
-16.7%
Affordability Index
59
2014
- 1.7%
Single Family/Duplex
2013
2012
+ 30.3%
- 19.2%
2014
- 13.8%
Townhouse-Condo
Historical Housing Affordability Index by Month
* Affordability Index for all properties from September 2013 through August 2014. This is not the average of the individual figures above.
Single Family/Duplex
120
Townhouse-Condo
100
80
60
40
20
0 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of September 7, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 11
Inventory of Active Listings The number of properties available for sale in active status at the end of a given month.
August 689
675 579
592
544
452
2012 - 11.9%
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Sep-2013
543
-12.8%
540
-18.8%
Oct-2013
535
-3.4%
505
-19.5%
Nov-2013
504
-6.5%
498
-20.7%
Dec-2013
469
-6.9%
493
-18.2%
Jan-2014
461
-4.2%
485
-16.2%
Feb-2014
443
-9.4%
479
-17.6%
Mar-2014
446
-3.7%
489
-15.3%
Apr-2014
448
-1.8%
454
-15.0%
May-2014
486
+2.7%
476
-10.4%
Jun-2014
546
-0.4%
519
-11.6%
Jul-2014
552
-8.5%
521
-13.5%
Aug-2014
544
-6.0%
452
-23.6%
12-Month Avg
498
-5.3%
493
-16.8%
Active Listings
2013 - 14.2%
2014 - 6.0%
2012 - 17.2%
Single Family/Duplex
2013 - 14.1%
2014 - 23.6%
Townhouse-Condo
Historical Inventory of Active Listings by Month
Single Family/Duplex
1,100
Townhouse-Condo
1,000 900 800 700 600 500 400 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of September 7, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 12
Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months.
August 16.1
15.7 12.7
11.3
12.3 9.2
2012 - 34.0%
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Sep-2013
10.9
Oct-2013
11.0
-23.2%
11.4
-20.8%
-9.8%
10.7
-16.4%
Nov-2013
10.7
-7.0%
10.7
-16.4%
Dec-2013
10.1
-1.9%
10.7
-12.3%
Jan-2014
9.9
0.0%
10.6
-10.2%
Feb-2014
9.6
-3.0%
10.4
-12.6%
Months Supply
2013 - 29.8%
2014 + 12.4%
2012 - 25.6%
Single Family/Duplex
2013 - 21.7%
2014 - 25.2%
Townhouse-Condo
Mar-2014
9.9
+6.5%
10.3
-14.9%
Apr-2014
10.0
+12.4%
9.5
-16.7%
May-2014
11.2
+19.1%
9.8
-10.9%
Jun-2014
12.4
+13.8%
10.6
-13.1%
Jul-2014
12.7
+8.5%
10.5
-16.0%
Aug-2014
12.7
+12.4%
9.2
-25.2%
12-Month Avg
10.9
+1.3%
10.4
-15.6%
* Months Supply for all properties from September 2013 through August 2014. This is not the average of the individual figures above.
Historical Months Supply of Inventory by Month
Single Family/Duplex
50.0
Townhouse-Condo
40.0
30.0
20.0
10.0
0.0 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of September 7, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 13
All Properties Activity Overview Key metrics for All Properties by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics
Historical Sparkbars
New Listings 8-2011
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
8-2012
8-2013
133
149
+ 12.0%
770
820
+ 6.5%
125
108
- 13.6%
695
690
- 0.7%
$455,000
$457,500
+ 0.5%
$480,000
$555,000
+ 15.6%
$756,437
$645,924
- 14.6%
$838,149 $1,100,054
95.5%
96.4%
+ 0.9%
95.3%
95.5%
+ 0.2%
175
123
- 29.7%
180
179
- 0.6%
72
75
+ 3.8%
69
62
- 9.8%
1,171
996
- 14.9%
--
--
--
11.8
10.9
- 7.6%
--
--
--
+ 31.2%
8-2014
Months Supply 8-2011
- 1.5%
8-2014
Active Listings 8-2011
1,241
8-2014
Affordability Index 8-2011
1,260
8-2014
Days on Market 8-2011
- 13.9%
8-2014
Pct. of List Price Received 8-2011
130
8-2014
Average Sales Price 8-2011
151
Percent Change
8-2014
Median Sales Price 8-2011
Percent Change
8-2014
Closed Sales 8-2011
8-2014
8-2014
Pending Sales 8-2011
YTD 2013 YTD 2014
8-2013
8-2014
Current as of September 7, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 14
Closed Sales Actual sales that have closed in a given quarter.
By Price Range – All Properties – Rolling 12 Months 358
345
8-2013
By Property Type
8-2014
8-2013
8-2014
377 215
207
208
108
104
52
58
27
68
36
73
15
34
4
616
4
1,192 576
514
1,101
587
- 40.0%
+ 5.3%
- 3.3%
- 3.7%
+ 11.5%
+ 33.3%
+ 7.4%
+ 126.7%
0.0%
- 16.6%
+ 1.9%
- 7.6%
< $300K
$300K to $599K
$600K to $999K
$1.0M to $1.4M
$1.5M to $1.9M
$2.0M to $2.5M
$2.5M to $4.9M
$5.0M to $9.9M
$10.0M+
Singe Family
Townhouse-Condo
All Properties
Rolling 12 Months Single Family Condo By Price Range $299,999 and Below $300,000 to $599,999 $600,000 to $999,999 $1,000,000 to $1,499,999 $1,500,00 to $1,999,999 $2,000,000 to $2,499,999 $2,500,000 to $4,999,999 $5,000,000 to $9,999,999 $10,000,000 and Above All Price Ranges
8-2013 145 192 125 59 26 18 39 9 3 616
8-2014 72 167 112 51 32 18 39 19 4 514
Change - 50.3% - 13.0% - 10.4% - 13.6% + 23.1% 0.0% 0.0% + 111.1% + 33.3% - 16.6%
8-2013 200 166 90 49 26 9 29 6 1 576
8-2014 135 210 96 53 26 18 34 15 0 587
Compared to Prior Month Single Family Condo Change - 32.5% + 26.5% + 6.7% + 8.2% 0.0% + 100.0% + 17.2% + 150.0% - 100.0% + 1.9%
7-2014 10 14 7 1 5 1 6 1 0 45
8-2014 6 22 13 5 2 0 3 0 0 51
Change - 40.0% + 57.1% + 85.7% + 400.0% - 60.0% - 100.0% - 50.0% - 100.0% -+ 13.3%
7-2014 11 25 8 3 3 2 4 3 0 59
8-2014 20 16 15 5 0 1 0 0 0 57
Year to Date Single Family Change + 81.8% - 36.0% + 87.5% + 66.7% - 100.0% - 50.0% - 100.0% - 100.0% -- 3.4%
Condo
YTD 2013 YTD 2014 Change YTD 2013 YTD 2014 Change 87 49 - 43.7% 104 83 - 20.2% 113 112 - 0.9% 103 126 + 22.3% 70 64 - 8.6% 59 59 0.0% 36 31 - 13.9% 28 39 + 39.3% 19 14 - 26.3% 20 19 - 5.0% 9 8 - 11.1% 7 14 + 100.0% 19 27 + 42.1% 13 26 + 100.0% 3 8 + 166.7% 4 8 + 100.0% 1 3 + 200.0% 0 0 -357 316 - 11.5% 338 374 + 10.7%
Inventory of Active Listings A measure of the number of homes available for sale at a given time.
By Price Range – All Properties 217 81
227
181
8-2013
203
150
55
By Property Type
8-2014
115
102
93
195 66
69
162
96
93
37
579
25
8-2013
592
544
8-2014
1,171 452
996
- 32.1%
- 16.6%
- 10.6%
- 23.3%
- 8.8%
+ 4.5%
- 16.9%
- 3.1%
- 32.4%
- 6.0%
- 23.6%
- 14.9%
< $300K
$300K to $599K
$600K to $999K
$1.0M to $1.4M
$1.5M to $1.9M
$2.0M to $2.5M
$2.5M to $4.9M
$5.0M to $9.9M
$10.0M+
Singe Family
Townhouse-Condo
All Properties
Year over Year Single Family By Price Range $299,999 and Below $300,000 to $599,999 $600,000 to $999,999 $1,000,000 to $1,499,999 $1,500,00 to $1,999,999 $2,000,000 to $2,499,999 $2,500,000 to $4,999,999 $5,000,000 to $9,999,999 $10,000,000 and Above All Price Ranges
8-2013 26 69 111 84 54 39 111 57 28 579
8-2014 20 65 120 62 58 42 102 58 17 544
Change - 23.1% - 5.8% + 8.1% - 26.2% + 7.4% + 7.7% - 8.1% + 1.8% - 39.3% - 6.0%
Compared to Prior Month Single Family Condo
Condo 8-2013 55 148 116 66 48 27 84 39 9 592
8-2014 35 116 83 53 35 27 60 35 8 452
Change - 36.4% - 21.6% - 28.4% - 19.7% - 27.1% 0.0% - 28.6% - 10.3% - 11.1% - 23.6%
7-2014 22 66 93 59 47 35 97 46 21 486
8-2014 20 65 120 62 58 42 102 58 17 544
Change - 9.1% - 1.5% + 29.0% + 5.1% + 23.4% + 20.0% + 5.2% + 26.1% - 19.0% + 11.9%
7-2014 43 152 80 40 34 25 58 37 7 476
8-2014 35 116 83 53 35 27 60 35 8 452
Year to Date Single Family Change - 18.6% - 23.7% + 3.8% + 32.5% + 2.9% + 8.0% + 3.4% - 5.4% + 14.3% - 5.0%
Condo
There are no year-to-date figures for inventory because it is simply a snapshot frozen in time at the end of each month. It does not add up over a period of months.
Current as of September 7, 2014. All data from the Vail Board of REALTORS® MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 15
Glossary of Terms A research tool provided by the Colorado Association of REALTORSÂŽ
New Listings
A measure of how much new supply is coming onto the market from sellers (e.g., Q3 New Listings are those listings with a system list date from July 1 through September 30).
Pending Sales
A count of all the listings that went into Pending during the reported period. Pending listings are counted at the end of the reported period. Each listing can only be counted one time. If a listing goes into Pending, out of Pending, then back into Pending all in one reported period, this listing would only be counted once. This is the most real-time measure possible for home buyer activity, as it measures signed contracts on sales rather than the actual closed sale. As such, it is called a "leading indicator" of buyer demand.
Closed Sales
A measure of home sales that were closed to completion during the report period.
Median Sales Price
A measure of home values in a market area where 50% of activity was higher and 50% was lower than this price point.
Average Sales Price
A sum of all home sales prices divided by total number of sales.
Percent of List Price Received
A mathematical calculation of the percent difference from last list price and sold price for those listings sold in the reported period.
Days on Market Until Sale
A measure of how long it takes homes to sell, on average.
Housing Affordability Index
A measure of how affordable a regionâ&#x20AC;&#x2122;s housing is to its consumers. A higher number means greater affordability. The index is based on interest rates, median sales price and average income by county.
Inventory of Active Listings
A measure of the number of homes available for sale at a given time. The availability of homes for sale has a big effect on supply-demand dynamics and home prices.
Months Supply of Inventory
A measure of how balanced the market is between buyers and sellers. It is expressed as the number of months it would hypothetically take to sell through all the available homes for sale, given current levels of home sales. A balanced market ranges from 4 to 7 months of supply. A buyer's market has a higher number, reflecting fewer buyers relative to homes for sale. A seller's market has a lower number, reflecting more buyers relative to homes for sale.
Current as of September 7, 2014. All data from the Vail Board of REALTORSÂŽ MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 16