Monthly Indicators 2016 New Listings were down 1.4 percent for single family/duplex homes and 25.0 percent for townhouse-condo properties. Pending Sales increased 58.3 percent for single family/duplex homes and 26.5 percent for townhouse-condo properties. The Median Sales Price was up 7.6 percent to $742,500 for single family/duplex homes but decreased 20.2 percent to $602,500 for townhouse-condo properties. Days on Market decreased 29.3 percent for single family/duplex homes but increased 15.0 percent for condo properties. Employment figures are positive, wages are going up and employers are hiring. Consumers are holding for the right deal, even in the face of extremely low mortgage rates. As seller and builder confidence increases, we should see more activity in Q2 2016. The second quarter tends to rank as the best time to list a home for sale. But if inventory stays low, it will be difficult to sustain sales increases in year-over-year comparisons. Prices are seemingly not so high as to stall the market completely. Demand is present but an abundance of choice is not, and therein lies the rub. Monthly Snapshot + 21.4% - 13.5% - 9.2% One-Year in Closed Sales All Properties One-Year in Active Listings All Properties Activity Overview Activity Overview New Listings Pending Sales Closed Sales Median Sales Price Average Sales Price Percent of List Price Received Days on Market Until Sale Housing Affordability Index Inventory of Active Listings Months Supply of Inventory All Properties Activity Overview Closed Sales and Inventory by Price Range Glossary of Terms One-Year in Median Sales Price All Properties Residential real estate activity in Vail Board of REALTORS MLS, comprised of single-family properties, townhomes and condominiums. Percent changes are calculated using rounded figures. 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K.
Activity Overview Key metrics for Family properties by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars 3-2015 3-2016 Percent YTD 2015 YTD 2016 Percent New Listings 69 68-1.4% 184 178-3.3% Pending Sales 48 76 + 58.3% 118 152 + 28.8% Closed Sales 33 23-30.3% 83 69-16.9% Median Sales Price $690,000 $742,500 + 7.6% $799,000 $590,000-26.2% Avg. Sales Price $1,304,972 $1,223,913-6.2% $1,544,995 $995,004-35.6% Pct. of List Price Received 95.2% 94.5% - 0.7% 94.7% 95.1% + 0.4% Days on Market ` 266 188-29.3% 241 159-34.0% Affordability Index 53 50-5.7% 46 63 + 37.0% Active Listings 487 425-12.7% -- -- -- Months Supply 11.3 8.7-23.0% -- -- -- Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 2
Activity Overview Key metrics for properties by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars 3-2015 3-2016 Percent YTD 2015 YTD 2016 Percent New Listings 96 72-25.0% 215 220 + 2.3% Pending Sales 49 62 + 26.5% 132 166 + 25.8% Closed Sales 37 62 + 67.6% 108 145 + 34.3% Median Sales Price $755,000 $602,500-20.2% $830,000 $600,000-27.7% Avg. Sales Price $1,195,623 $1,048,645-12.3% $1,204,960 $983,339-18.4% Pct. of List Price Received 95.7% 96.0% + 0.3% 95.5% 96.0% + 0.5% Days on Market 147 169 + 15.0% 173 176 + 1.7% Affordability Index 48 61 + 27.1% 44 61 + 38.6% Active Listings 508 435-14.4% -- -- -- Months Supply 9.8 7.6-22.4% -- -- -- Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 3
New Listings A count of the properties that have been newly listed on the market in a given month. Year to Date 215 220 96 184 178 179 159 72 67 69 72 68 2014 2015 2016 2014 2015 2016 2014 2015 2016 2014 2015 2016 + 19.6% + 3.0% -1.4% + 16.1% + 33.3% - 25.0% -9.1% + 15.7% -3.3% + 4.7% + 20.1% + 2.3% New Listings Apr-2015 77 0.0% 63-12.5% May-2015 105 +6.1% 97 +11.5% Jun-2015 181 +28.4% 112 +1.8% Jul-2015 117 +31.5% 97 +9.0% Aug-2015 85 +7.6% 98 +88.5% Sep-2015 75 +44.2% 60 +9.1% Oct-2015 49-19.7% 57-9.5% Nov-2015 37-22.9% 64 +12.3% Dec-2015 59 +47.5% 56-45.6% Jan-2016 42-41.7% 74 +2.8% Feb-2016 68 +58.1% 74 +57.4% Mar-2016 68-1.4% 72-25.0% 12-Month Avg 80 +10.7% 77 +2.3% Historical New Listings by Month 200 175 150 125 100 75 50 25 Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 4
Pending Sales A count of the properties on which offers have been accepted in a given month. 76 49 48 48 49 62 Year to Date 2014 2015 2016 2014 2015 2016 2014 2015 2016 2014 2015 2016-19.7% -2.0% + 58.3% + 2.1% + 2.1% + 26.5% - 12.0% -5.6% + 28.8% + 15.4% -7.0% + 25.8% 125 118 152 142 132 166 Pending Sales Apr-2015 66 +57.1% 61-12.9% May-2015 58 +61.1% 53 +55.9% Jun-2015 67 +59.5% 47 +20.5% Jul-2015 88 +49.2% 74 +5.7% Aug-2015 59 +9.3% 82-1.2% Sep-2015 49-3.9% 68-1.4% Oct-2015 60 +22.4% 70 +34.6% Nov-2015 31-8.8% 48 +33.3% Dec-2015 19-9.5% 39-15.2% Jan-2016 32-23.8% 41-2.4% Feb-2016 44 +57.1% 63 +53.7% Mar-2016 76 +58.3% 62 +26.5% 12-Month Avg 54 +28.3% 59 +12.2% Historical Pending Sales by Month 100 80 60 40 20 0 Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 5
Closed Sales A count of the actual sales that closed in a given month. Year to Date 62 145 51 111 108 37 83 83 33 28 69 23 2014 2015 2016 2014 2015 2016 2014 2015 2016 2014 2015 2016-20.0% + 17.9% - 30.3% + 45.7% - 27.5% + 67.6% - 11.7% 0.0% - 16.9% + 13.3% -2.7% + 34.3% Closed Sales Apr-2015 42-10.6% 39-22.0% May-2015 42-6.7% 57 0.0% Jun-2015 80 +73.9% 64 +48.8% Jul-2015 70 +59.1% 60 +22.4% Aug-2015 66 +29.4% 59-1.7% Sep-2015 79 +46.3% 74-5.1% Oct-2015 49-10.9% 66-15.4% Nov-2015 44 +4.8% 61 +35.6% Dec-2015 47-4.1% 64 +16.4% Jan-2016 22-4.3% 50 +31.6% Feb-2016 24-11.1% 33 0.0% Mar-2016 23-30.3% 62 +67.6% 12-Month Avg 49 +14.0% 57 +10.6% Historical Closed Sales by Month 100 80 60 40 20 0 Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 6
Median Sales Price Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month. Year to Date $761,000 $742,500 $755,000 $799,000 $830,000 $690,000 $750,000 $690,000 $585,000 $602,500 $590,000 $600,000 2014 2015 2016 2014 2015 2016 2014 2015 2016 2014 2015 2016 + 5.0% -9.3% + 7.6% + 14.3% + 29.1% - 20.2% + 17.5% + 6.5% - 26.2% + 65.7% + 20.3% - 27.7% Historical Median Sales Price by Month $2,000,000 Median Sales Price Apr-2015 $750,000 +0.8% $508,000-32.9% May-2015 $972,500 +66.2% $575,000 +15.0% Jun-2015 $592,500 +10.6% $422,500 +16.6% Jul-2015 $595,000 +6.7% $398,500-6.7% Aug-2015 $699,500 +53.7% $375,000-16.1% Sep-2015 $700,000-9.3% $491,250 +31.0% Oct-2015 $645,000-9.6% $470,000 +3.9% Nov-2015 $675,000-6.6% $529,000 +27.5% Dec-2015 $640,000-17.4% $527,500-16.9% Jan-2016 $587,500-36.6% $662,949-32.0% Feb-2016 $510,250-54.5% $521,250-35.0% Mar-2016 $742,500 +7.6% $602,500-20.2% 12-Month Avg* $643,500-5.2% $480,000-4.0% * Median Sales Price for all properties from April 2015 through 2016. This is not the average of the individual figures above. $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 7
Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. Year to Date $1,482,573 $1,544,995 $1,304,972 $1,223,913 $1,195,623 $1,260,300 $1,048,645 $1,204,960 $1,106,879 $849,114 $995,004 $983,339 2014 2015 2016 2014 2015 2016 2014 2015 2016 2014 2015 2016 + 70.7% - 12.0% -6.2% -8.4% + 40.8% - 12.3% + 18.6% + 22.6% - 35.6% + 31.3% + 8.9% - 18.4% Historical Average Sales Price by Month $3,000,000 Avg. Sales Price Apr-2015 $1,235,525-42.8% $766,308-49.5% May-2015 $1,617,972 +30.6% $993,727-10.9% Jun-2015 $1,440,288 +37.3% $783,961 +7.7% Jul-2015 $1,060,670 +25.0% $687,532-24.2% Aug-2015 $1,232,124 +65.3% $579,977 +7.4% Sep-2015 $1,354,503-17.4% $706,967-6.5% Oct-2015 $1,050,771-10.4% $1,114,844 +18.0% Nov-2015 $1,194,902 +13.0% $904,931 +15.2% Dec-2015 $954,650-53.9% $1,044,734-3.9% Jan-2016 $869,364-53.6% $890,844-29.8% Feb-2016 $890,802-42.8% $1,000,788-12.3% Mar-2016 $1,223,913-6.2% $1,048,645-12.3% 12-Month Avg* $1,216,378-11.4% $874,769-10.0% * Avg. Sales Price for all properties from April 2015 through 2016. This is not the average of the individual figures above. $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 8
Percent of List Price Received Percentage found when dividing a property s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions. 96.2% 95.2% 94.5% 94.9% 95.7% 96.0% -0.3% -1.0% -0.7% -0.1% + 0.8% + 0.3% + 0.1% -0.7% + 0.4% -0.9% + 1.2% + 0.5% Historical Percent of List Price Received by Month 100.0% 2014 2015 2016 Year to Date 95.4% 94.7% 95.1% 94.4% 95.5% 96.0% 2014 2015 2016 2014 2015 2016 2014 2015 2016 Pct. of List Price Received Apr-2015 95.5% +0.5% 96.5% +3.3% May-2015 94.2% -2.3% 95.9% +0.4% Jun-2015 96.6% +0.7% 96.2% +0.4% Jul-2015 96.8% +1.5% 97.0% +0.7% Aug-2015 97.0% +0.8% 96.4% 0.0% Sep-2015 95.7% +1.8% 97.2% +1.0% Oct-2015 95.2% -0.5% 95.7% +0.1% Nov-2015 93.7% -2.1% 95.5% +0.6% Dec-2015 92.6% -2.0% 95.4% +0.3% Jan-2016 95.3% +2.6% 96.1% +0.8% Feb-2016 95.6% -0.2% 95.6% +0.2% Mar-2016 94.5% -0.7% 96.0% +0.3% 12-Month Avg* 95.5% +0.2% 96.2% +0.7% * Pct. of List Price Received for all properties from April 2015 through 2016. This is not the average of the individual figures above. 95.0% 90.0% 85.0% 80.0% 75.0% 70.0% Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 9
Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month. Year to Date 263 341 241 266 193 173 176 159 180 188 169 147 Historical Days on Market Until Sale by Month 500 2014 2015 2016 2014 2015 2016 2014 2015 2016 2014 2015 2016 + 119.5% + 47.8% - 29.3% + 11.8% - 56.9% + 15.0% + 27.8% + 24.9% - 34.0% + 26.4% - 34.2% + 1.7% Days on Market Apr-2015 202-1.9% 90-63.7% May-2015 173-13.5% 139-14.2% Jun-2015 148 +27.6% 191 +10.4% Jul-2015 89-19.1% 132-6.4% Aug-2015 100-9.1% 90-30.2% Sep-2015 123-35.3% 97-44.3% Oct-2015 145-4.6% 205 +25.8% Nov-2015 122-2.4% 126-19.2% Dec-2015 177-10.6% 265 +28.0% Jan-2016 140-23.1% 206 +24.1% Feb-2016 148-43.3% 144-31.1% Mar-2016 188-29.3% 169 +15.0% 12-Month Avg* 171-18.3% 172-9.0% * Days on Market for all properties from April 2015 through 2016. This is not the average of the individual figures above. 400 300 200 100 0 Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 10
Housing Affordability Index This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability. Year to Date Historical Housing Affordability Index by Month 120 61 63 61 57 53 50 48 49 44 45 46 44 2014 2015 2016 2014 2015 2016 2014 2015 2016 2014 2015 2016-10.2% + 20.5% -5.7% - 18.6% - 15.8% + 27.1% - 19.6% + 2.2% + 37.0% - 43.0% - 10.2% + 38.6% Affordability Index Apr-2015 49 +8.9% 73 +65.9% May-2015 38-35.6% 64-7.2% Jun-2015 61-4.7% 86-9.5% Jul-2015 60-1.6% 90 +12.5% Aug-2015 51-32.0% 96 +24.7% Sep-2015 52 +18.2% 74-18.7% Oct-2015 56 +16.7% 77 +1.3% Nov-2015 53 +10.4% 68-19.0% Dec-2015 57 +26.7% 69 +25.5% Jan-2016 61 +52.5% 54 +42.1% Feb-2016 73 +121.2% 71 +54.3% Mar-2016 50-5.7% 61 +27.1% 12-Month Avg* 55-2.5% 51-8.7% * Affordability Index for all properties from April 2015 through 2016. This is not the average of the individual figures above. 100 80 60 40 20 0 Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 11
Inventory of Active Listings The number of properties available for sale in active status at the end of a given month. 487 493 508 449 425 435 2014 2015 2016 2014 2015 2016-2.8% + 8.5% - 12.7% - 14.4% + 3.0% - 14.4% Active Listings Apr-2015 473 +4.4% 473 +3.1% May-2015 498 +0.6% 489 +0.6% Jun-2015 583 +4.3% 539 +1.1% Jul-2015 590 +3.1% 543 +0.6% Aug-2015 594 +2.6% 544 +12.4% Sep-2015 581 +8.6% 505 +16.6% Oct-2015 526 +5.4% 460 +9.0% Nov-2015 498 +3.8% 454 +7.6% Dec-2015 489 +7.5% 439-2.9% Jan-2016 461-3.2% 453-4.0% Feb-2016 458-4.2% 451-4.0% Mar-2016 425-12.7% 435-14.4% 12-Month Avg 515 +1.8% 482 +1.8% Historical Inventory of Active Listings by Month 1,000 900 800 700 600 500 400 Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 12
Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Historical Months Supply of Inventory by Month 40.0 11.3 10.6 10.1 9.8 8.7 7.6 2014 2015 2016 2014 2015 2016 + 6.3% + 11.9% - 23.0% - 12.4% -7.5% - 22.4% Months Supply Apr-2015 11.1 +7.8% 9.3-4.1% May-2015 11.8 +2.6% 9.6-5.0% Jun-2015 12.9 0.0% 10.2-7.3% Jul-2015 12.5-5.3% 10.1-8.2% Aug-2015 12.2-10.3% 10.2 +2.0% Sep-2015 11.5-8.7% 9.5 +9.2% Oct-2015 10.5-11.0% 8.8 +6.0% Nov-2015 9.9-12.4% 8.5 +2.4% Dec-2015 9.7-8.5% 8.1-6.9% Jan-2016 9.2-17.1% 8.2-7.9% Feb-2016 9.2-17.9% 8.2-7.9% Mar-2016 8.7-23.0% 7.6-22.4% 12-Month Avg 10.8-8.6% 9.0-4.7% * Months Supply for all properties from April 2015 through 2016. This is not the average of the individual figures above. 30.0 20.0 10.0 0.0 Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 13
All Properties Activity Overview Key metrics for All Properties by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars 3-2015 3-2016 Percent YTD 2015 YTD 2016 Percent New Listings 165 140-15.2% 399 399 0.0% Pending Sales 97 138 + 42.3% 250 318 + 27.2% Closed Sales 70 85 + 21.4% 191 214 + 12.0% Median Sales Price $706,750 $642,000-9.2% $815,000 $597,500-26.7% Avg. Sales Price $1,247,173 $1,096,070-12.1% $1,352,724 $987,100-27.0% Pct. of List Price Received 95.5% 95.6% + 0.1% 95.2% 95.7% + 0.5% Days on Market 203 174-14.3% 202 170-15.8% Affordability Index 52 57 + 11.3% 45 62 + 38.0% Active Listings 995 861-13.5% -- -- -- Months Supply 10.5 8.1-22.9% -- -- -- Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 14
Closed Sales Actual sales that have closed in a given month. By Price Range All Properties Rolling 12 Months 3-2015 3-2016 By Property Type 3-2015 3-2016 201 199 389 478 211 279 100 112 70 67 47 43 84 68 31 27 6 7 516 588 623 689 1,139 1,280-1.0% + 22.9% + 32.2% + 12.0% - 4.3% - 8.5% - 19.0% - 12.9% + 16.7% + 14.0% + 10.6% + 12.4% < $300K $300K to $599K $600K to $999K $1.0M to $1.4M $1.5M to $1.9M $2.0M to $2.5M $2.5M to $4.9M $5.0M to $9.9M $10.0M+ Singe Family All Properties Rolling 12 Months Compared to Prior Month Year to Date Family Family Family By Price Range 3-2015 3-2016 3-2015 3-2016 2-2016 3-2016 2-2016 3-2016 YTD 2015 YTD 2016 YTD 2015 YTD 2016 $299,999 and Below 64 62-3.1% 137 134-2.2% 5 1-80.0% 6 8 + 33.3% 11 13 + 18.2% 11 23 + 109.1% $300,000 to $599,999 169 204 + 20.7% 220 274 + 24.5% 11 7-36.4% 12 23 + 91.7% 21 23 + 9.5% 29 48 + 65.5% $600,000 to $999,999 111 143 + 28.8% 100 136 + 36.0% 2 6 + 200.0% 5 11 + 120.0% 13 14 + 7.7% 23 32 + 39.1% $1,000,000 to $1,499,999 44 58 + 31.8% 56 54-3.6% 3 2-33.3% 3 7 + 133.3% 9 6-33.3% 13 14 + 7.7% $1,500,00 to $1,999,999 35 39 + 11.4% 35 28-20.0% 2 4 + 100.0% 0 6 -- 8 7-12.5% 14 10-28.6% $2,000,000 to $2,499,999 24 20-16.7% 23 23 0.0% 0 0 -- 3 3 0.0% 7 0-100.0% 9 7-22.2% $2,500,000 to $4,999,999 46 41-10.9% 38 27-28.9% 0 3 -- 4 2-50.0% 9 5-44.4% 7 8 + 14.3% $5,000,000 to $9,999,999 17 16-5.9% 14 11-21.4% 1 0-100.0% 0 2 -- 4 1-75.0% 2 3 + 50.0% $10,000,000 and Above 6 5-16.7% 0 2 -- 0 0 -- 0 0 -- 1 0-100.0% 0 0 -- All Price Ranges 516 588 + 14.0% 623 689 + 10.6% 24 23-4.2% 33 62 + 87.9% 83 69-16.9% 108 145 + 34.3% Inventory of Active Listings A measure of the number of homes available for sale at a given time. By Price Range All Properties 3-2015 3-2016 190 156 158 163 127 119 132 116 111 122 94 58 61 64 81 36 35 33 By Property Type 3-2015 3-2016 995 487 425 508 435 861-37.9% - 18.6% - 37.4% - 12.1% + 9.9% + 4.9% + 3.2% - 13.8% - 5.7% - 12.7% - 14.4% - 13.5% < $300K $300K to $599K $600K to $999K $1.0M to $1.4M $1.5M to $1.9M $2.0M to $2.5M $2.5M to $4.9M $5.0M to $9.9M $10.0M+ Singe Family All Properties Year over Year Compared to Prior Month Year to Date Family Family Family By Price Range 3-2015 3-2016 3-2015 3-2016 2-2016 3-2016 2-2016 3-2016 $299,999 and Below 24 15-37.5% 34 21-38.2% 21 15-28.6% 23 21-8.7% $300,000 to $599,999 50 31-38.0% 106 96-9.4% 36 31-13.9% 98 96-2.0% $600,000 to $999,999 84 50-40.5% 106 69-34.9% 56 50-10.7% 64 69 + 7.8% $1,000,000 to $1,499,999 59 61 + 3.4% 73 55-24.7% 64 61-4.7% 62 55-11.3% $1,500,00 to $1,999,999 57 62 + 8.8% 54 60 + 11.1% 69 62-10.1% 64 60-6.3% $2,000,000 to $2,499,999 34 34 0.0% 27 30 + 11.1% 34 34 0.0% 31 30-3.2% $2,500,000 to $4,999,999 106 96-9.4% 52 67 + 28.8% 102 96-5.9% 64 67 + 4.7% $5,000,000 to $9,999,999 50 52 + 4.0% 44 29-34.1% 52 52 0.0% 38 29-23.7% $10,000,000 and Above 23 24 + 4.3% 12 8-33.3% 24 24 0.0% 7 8 + 14.3% All Price Ranges 487 425-12.7% 508 435-14.4% 458 425-7.2% 451 435-3.5% There are no year-to-date figures for inventory because it is simply a snapshot frozen in time at the end of each month. It does not add up over a period of months. Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 15
Glossary of Terms A research tool provided by the Colorado Association of REALTORS New Listings A measure of how much new supply is coming onto the market from sellers. Pending Sales A count of all the listings that went into Pending during the reported period. Pending listings are counted at the end of the reported period. Each listing can only be counted one time. If a listing goes into Pending, out of Pending, then back into Pending all in one reported period, this listing would only be counted once. This is the most real-time measure possible for home buyer activity, as it measures signed contracts on sales rather than the actual closed sale. As such, it is called a "leading indicator" of buyer demand. Closed Sales A measure of home sales that were closed to completion during the report period. Median Sales Price A measure of home values in a market area where 50% of activity was higher and 50% was lower than this price point. Average Sales Price A sum of all home sales prices divided by total number of sales. Percent of List Price Received A mathematical calculation of the percent difference from last list price and sold price for those listings sold in the reported period. Days on Market Until Sale A measure of how long it takes homes to sell, on average. Housing Affordability Index A measure of how affordable a region s housing is to its consumers. A higher number means greater affordability. The index is based on interest rates, median sales price and average income by county. Inventory of Active Listings A measure of the number of homes available for sale at a given time. The availability of homes for sale has a big effect on supply-demand dynamics and home prices. Months Supply of Inventory A measure of how balanced the market is between buyers and sellers. It is expressed as the number of months it would hypothetically take to sell through all the available homes for sale, given current levels of home sales. A balanced market ranges from 4 to 7 months of supply. A buyer's market has a higher number, reflecting fewer buyers relative to homes for sale. A seller's market has a lower number, reflecting more buyers relative to homes for sale. Current as of April 6, 2016. All data from the Vail Board of REALTORS MLS. Report 2016 ShowingTime 10K. 16