Monday, February 28, 2005

Boom Keeps Up in Posh Vail Region

The latest from the Vail Daily: Continued low interest rates -- and the threat of them rising -- continue to help convert renters into home owners and to drive real estate sales to new records in Eagle County, Colorado, which includes Vail.

"It's also creating a shortage of residential properties, real estate experts said.

"Of the 193 sales in January, 123 were priced at $1 million or less - Eagle County's definition of entry-level housing. The average sales price of 83 properties sold that were priced at $500,000 and less was $306,820 while the price of property priced at $500,000 to $1 million was $711,773," according to statistics compiled by Land Title Guarantee Company.

The overall average sales price: $687,939.

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