Eagle County ended the year with $225,150,500 in total dollar volume in December, bringing the year end total to more than $2.2 billion for 2008. This is 25% shy of last years total and down just 19% from 2006. The driving force in Eagle County in 2008 was the high end properties sales. There were 71 transactions selling for more than $5 million for the entire year; 12 of those transactions were in December. This is 17 more transactions in the over $5 million level than we had last year. 

This helped create one of the highest average sales price months we’ve ever seen at $2,207,358. Here are a few of the influencing projects for December: 

• The Westin - had 16 closings totaling $17,043,200
• Vail Mountain View Residences - had 16 closings totaling $54,841,400: this is an average price of $3,427,588 per unit
• Chalets at Lodge at Vail - had 5 closings totaling $60,250,000: this is $12,050,000 per unit or $2699.79 price per square foot
• Manor Vail - had 2 closings totaling $28,745,500: this is an average price of $14,372,750 per unit  

While total dollar volume stayed above $2 billion for the 5^th consecutive year; the number transactions have declined to a total of 1,606 for 2008, 40% fewer than last year. The number of transactions in December, 102, were the fewest transactions in a given month since we started tracking them in 1996.

Here’s a look back to see how real estate has evolved in Eagle County over the last 20 years.

You’ll notice that single family home values have more than doubled every 10 years thus far.