May skiing, anyone?
The good news: Colorado’s snow pack is 190% of normal. The bad news: it keeps snowing. Not that the water people are unhappy; the upper Colorado River basin (i.e., the Vail Valley) has a water equivalency of 193% of the median for this time of year. Great for the rivers, reservoirs, fish & forests and all the people who use them.
Upcoming events in the sunshine are Beaver Creek’s Blues, Brews & BBQ May 25 – 26. Vail/Beaver Creek restaurant week is May 26 – June 2, eat something delicious for $20.19. And the family & pet friendly GoPro Mountain Games are June 6 – 9.
As the weather warms, real estate is expected to pick up. A lack of inventory in the lower priced market has impeded growth, and statistics show one-year closed sales down 17% . New listings increased 18% for single family or duplexes, with pending sales showing a 16% increase, but new listings for condominiums & townhomes decreased 21%. Even so, pending sales in that category are 8% higher. Overall there has been a 12% decrease in active listings but a 2% increase in the median sales price. Details, facts & figures can be found in the latest Vail Board of Realtors’ April indicators.
There have been 63 homes sold to date this month with an average sales price of $1,171,000 and $520/square foot. The most expensive residences include a house on the Vail golf course for $9,850,000 and a house on a ski run at Arrowhead for $5M.
Please let me know if you have any real estate questions. As summer gets closer, we should have an uptick in action in the great outdoors and indoors too!
Warm regards, Carolyn