Vail Valley brokers say more real estate inventory is needed

EAGLE COUNTY — The local real estate market was essentially flat from 2017 to 2018. That’s the sign of a strong market. But local brokers say the valley could use more homes to buy and sell.

According to the Colorado Association of REALTORS®, the state in 2018 saw a slight decline in the number of homes sold. Eagle County saw that slight decline, too. But according to data from the Vail Board of REALTORS®, which tracks data mostly from Vail to Dotsero, there was also an increase in the prices of those transactions.

Together, the changes added up to a market that was very similar to the market’s status in 2017.

That’s mostly good news. According to Mike Budd, a broker with Berkshire Hathaway HomeServices Colorado Properties, the supply of homes is one of the key indicators of a market’s health, and whether it favors buyers or sellers.

For single-family and duplex units, the Vail Board of REALTORS® reports a 7.4-month supply of homes. There’s a six-month supply of townhomes and condos. Budd said that a six-month supply of homes is generally regarded as the sign of a balanced market.

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