Sept 2015 newsletter

State of the Real Estate Market Last Quarter 2015

Team Black Bear’s

September 2015

Real Estate Update

What an interesting economy we have going in the world right now! The internet gives us instant information that changes minute to minute and tends to cause all of us to feel like we are on the brink of change at all times... which of course is true. However, even though Eagle County is affected by the world economy, real estate markets are actually determined locally. The front range of Colorado has had a huge commercial and housing building boom going on for the last 3 years. We, on the western slope of Colorado, have not experienced that building boom. There is good news though, our prices have been rising slowly and will probably continue to do so, especially if we do not build much more new inventory. And we are seeing other types of new development throughout the Valley. Although, we may not have had a recent housing boom in Eagle County, there is project growth that we have not seen in many years. Starting at the eastern end of the Valley, The Town of Vail Golf Course is finally expanding and redoing their whole club house. The cranes in the Town of Vail highlight the work going on for numerous condos and lodges. And the Vail Valley Medical Center is doing a major expansion and remodel that will take two years. In Avon, a new medical center is under construction and there has been a general revitalization going on in the core of town. Eagle has broken ground on the Castle Peak Senior Center, has an expected expansion

for City Market and some speculation home and town home construction. Frost Creek (formerly Adam's Mountain) up Brush Creek, south of Eagle was floundering for 8 years and now has been purchased and has been turned around quickly into a successful golf club with new home construction on the horizon. Gypsum also has some new town homes going up in two locations and recently the 319 acre Saddle Ridge parcel across from Costco went under contract. The Saddle Ridge

parcel has set dormant for 7+ years also, although the original plans for a golf course on this parcel appear to be abandoned, it is slated for new development in 2016.

We are fortunate because our economy has the strength of unparalleled beauty and recreational opportunities that never go away. We are, and will always be, a place that people love to visit and then stay. Even if our "white gold" (snow) does not fall at a rate we like in the winter, besides snow making, we now have numerous other outdoor recreation adventures available that are becoming more popular each year. Summertime activities are now a huge draw also for visitors and real estate buyers in our resorts and neighboring communities. Our small town feel with unparalleled friendliness and sense of community is always present and seems to be missing in a lot of the world today. Will there be some bumps along our economic road? Yes, but we have such a strong desirable base we will continue to grow and prosper.

...our economy has the strength of

unparalleled beauty and

recreational opportunities that

never go away.

Joan Harned, Barbara Hogoboom, Laura Sellards & Angela Maxey www.TeamBlackBear.com │[email protected] │ (970) 337-7777

SWEETWATER 70+ Acres, in-

credible furnished log home,

guest cabin & snowmobile barn.

Borders Nat’l Forest. $2,225,000

DOTSERO 4.291 acres w/new ap-

proved gas/conv store zoning. Boat

launch across the street. Last stop

in/out of Canyon. $1,500,000

SILT 1,256 Acres with 2 homes,

fenced w/12 pastures. 3 National

Forest In-Holdings. Water & Min-

eral rights . $5,100,000

GYPSUM 9.95 Acres, views, priva-

cy, underground utilities, paved

roads. BLM on 2 sides. Horses al-

lowed with permit. $419,000

SILT Hunters paradise, grand

corporate getaway or serene

retreat on 216 acres. Backs to

Nat’l Forest, 5bd lodge home,

stunning views. $2,850,000

SWEETWATER 56.6 Acre ranch 1sr

time on the market! 4 ponds, 3

stunning cabins, large maintenance

building. Borders Natl Forest, wa-

ter rights, fenced. $1,730,000

COTTON RANCH One of the best

lots in Cotton Ranch, 0.97 Of an

acre on Gypsum Creek Golf

Course. Great views. Walk To club-

house and pool. $110,000

EAGLE Two bedroom, 2 bath upper

unit with deck overlooking open

space. Large storage room outside

front door. Walk to movies, restau-

rants, etc. $239,000

SKY LEGEND .317 Acre home-

site at end of cul-de-sac, over-

looks 16th Fairway @ Gypsum

Creek Golf Course. $95,000

GLENWOOD CANYON Perfect for

the river enthusiast and fisherman.

2.84 Acres on the Colorado River.

$139,000

EAGLE RANCH 5 Bed, 5 Bath

4,800+ square feet on golf course.

Great outdoor living with fireplace

and hot tub. $995,000

SWEETWATER No covenants, great

views, backs up to BLM public

land, best price for 35 acres in

Sweetwater $185,000

EAGLE RANCH 4bd / 4ba Prairie-

style home on Golf Course w/

great views of Castle Peak. Open

& flowing floorplan w/ abun-

dance of windows! $847,500

EAGLE RANCH 2 bd, 2 ba ground

floor unit with patio onto open

space. Great free market oppor-

tunity in Eagle Ranch. $239,000

EAGLE RANCH 3Bd/2.5Ba Open

floor plan, 11’ ceilings in main liv-

ing area. Lots of windows. A kitch-

en to love! 2300sf unfinished

basement. $559,000

GYPSUM Mobile home can be re-

placed with new double wide or

live as is. 2 storage sheds in back

and graveled parking. Well kept

and lawn is beautiful. $150,000

EBY CREEK MESA .24 Acre treed

lot with spectacular views of

Eagle and Sawatch Mtn. Range.

$149,000

SKY LEGEND .36 & .31 Acres over-

looking & adj. to Gypsum Creek

Golf Course. End of cul-de-sac.

$90,000 & $95,000

SKY LEGEND .361 Acre home-site

at end of quiet cul-de-sac, adja-

cent to Gypsum Creek Golf Course.

Spectacular Views! . $90,000

EAGLE Ground level at desirable

West Village Condos at Eagle

Ranch. Light and bright! 2 bedrms

and 1¾ baths. $249,000

www.TeamBlackBear.com │[email protected] │ (970) 337-7777

GYPSUM 2.27 Acre light Industri-

al lot, fully leased with good in-

come on monthly basis. Storage

yard graded, graveled, fenced

and 2 entrance gates. $495,000

EAGLE 2 bed, 2 bath garden level

condo with walk-out patio and

remodeled kitchen. Great oppor-

tunity for full time residents or

investors. $179,000

GYPSUM 319+ Acres across

from Jet Center zoned P.U.D.

Cooley Mesa frontage, borders

BLM, water rights. Great Op-

portunity! $4,900,000

EAGLE Classic home 100+ years

old. Mobile home on property w/

numerous out buildings. 1.4 Acres

next to the Eagle River, water

rights, water taps. $650,000

VAIL First time ever on the mar-

ket. Only private land adjacent to

Piney Lake. Forest Land on 3

sides . $1,500,000

LITTLETON 4 bedrooms with up-

dated kitchen. Includes separate

living, dining, and family rooms.

Unfinished basement $385,000

McCOY 80+ Acres, water rights,

pond, shop + apt & 2nd shop.

Set up for hunting. 2 pastures,

barn, BLM on 2 sides $995,000

GLENWOOD CANYON Perfect for

the river enthusiast and fisher-

man. 3.105 Acres on the Colorado

River. $150,000

CEASE CREEK RANCH - Sweetwater

This understated but stunning 56+ acre hide-away is offered on the market for the first time ever. The owner has lovingly been improving the natural beauty for over 20 years. The beautiful green pastures and towering pine and aspen trees are set off by the four cascading ponds he has created. Two of the large ponds boil with 14 to 24 inch trout when just a small handful of fish pellets is sprinkled in the water. The owner has done an exceptional job of building charming accommodations that are both delightfully situated and accessorized.

The owners' one bedroom cabin on the ponds provides for dining and fishing right off of the front deck. The master bedroom also has a lovely rock fireplace and views across the pond to the surrounding mountains. The "gathering cabin" has 2 bedrooms and 1 bath and a larger living room with a rustic, but highly functional kitchen at the end. The enclosed porch provides a large dining and sitting area that is all windows looking at the most expansive view on the property. The third cabin, "Tom's Cabin" is just 1 room with the most rustic charm...but it does have a spacious bathroom added on the back. A maintenance building at the back of the property includes a cooler for hanging game, should you decide to go out the back of the property onto the thousands of acres of National Forest. All of the private property is fenced and some is irrigated with the owners’ water rights.

$1,730,000

Eagle County | Vail Valley | Col-

* Total is for all residential sales in the MLS. Some areas have been omitted but their numbers are reflected in the totals. Information contained in this newsletter is not guaranteed to be accurate. Stats

subject to change without notice. All statistical data is supplied by the Vail Board of Realtors and is deemed reliable but not guaranteed.

Area # Sold % of Sold Total $ Volume % of $

Volume Average Sold

Price Average Price / SF

AVG DOM

% of List Price

Total* 780 100% $ 873,334,626 100% $ 1,119,660 $ 469.46 148 93.70%

East Vail 39 5.0% $ 28,108,300 3.22% $ 720,726 $ 474.50 95 88.79%

Vail Village 40 5.1% $ 167,511,208 19.18% $ 4,187,780 $ 1,628.97 355 92.22%

Eagle-Vail 45 5.8% $ 22,609,050 2.59% $ 502,423 $ 297.20 75 96.32%

Beaver Creek 54 6.9% $ 116,528,900 13.34% $ 215,793 $ 686.15 323 90.72%

Avon 56 7.2% $ 23,892,078 2.74% $ 426,644 $ 365.30 97 95.84%

Bachelor Gulch 21 2.7% $ 46,011,400 5.27% $ 2,191,019 $ 869.51 172 94.63%

Arrowhead 42 5.4% $ 71,681,575 8.21% $ 1,706,704 $ 538.77 162 95.01%

Singletree 33 4.2% $ 28,208,250 3.23% $ 854,795 $ 322.60 90 96.50%

Edwards 29 3.7% $ 13,086,150 1.50% $ 451,247 $ 290.20 77 95.57%

Homestead 24 3.1% $ 12,591,266 1.44% $ 524,636 $ 267.43 87 97.30%

Lake Creek Valley 2 0.3% $ 8,600,000 0.98% $ 4,300,000 $ 481.36 231 98.85%

Cordillera 23 2.9% $ 39,337,900 4.50% $ 1,710,343 $ 320.34 334 92.86%

Bellyache Wolcott 2 0.3% $ 2,845,000 0.33% $ 1,422,500 $ 239.90 387 91.77%

Eagle 65 8.3% $ 31,192,900 3.57% $ 479,891 $ 215.26 73 96.25%

Eagle Ranch 48 6.2% $ 26,956,440 3.09% $ 561,593 $ 194.97 109 95.21%

Gypsum 65 8.3% $ 24,127,800 2.76% $ 371,197 $ 189.43 46 99.66%

Cotton Ranch 10 1.3% $ 4,832,585 0.55% $ 483,259 $ 175.68 106 97.65%

YTD Sales through 8/31/2015

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PO Box 1651, Eagle, CO 81631