Monthly Indicators 2015 New Listings were up 45.0 percent for single family/duplex homes but decreased 44.1 percent for townhouse-condo properties. Pending Sales increased 14.3 percent for single family/duplex homes but decreased 13.0 percent for townhouse-condo properties. Monthly Snapshot + 4.8% - 3.5% - 18.3% One-Year in Closed Sales All Properties One-Year in Active Listings All Properties 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. The Median Sales Price was down 15.5 percent to $655,000 for single family/duplex homes and 16.9 percent to $527,500 for townhouse-condo properties. Days on Market decreased 22.2 percent for single family/ duplex homes and 28.0 percent for condo properties. Gross Domestic Product increased at an annual rate near 2.0 percent to close 2015, and that rate is expected to increase next year. Residential real estate is considered a healthy piece of the national economy. Contributing factors from within the industry include better lending standards and foreclosures falling back to more traditional levels. Declining unemployment, higher wages and low fuel prices have also conspired to improve personal budgets. 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 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Current as of January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by 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 12-2014 12-2015 Percent YTD 2014 YTD 2015 Percent New Listings 40 58 + 45.0% 845 969 + 14.7% Pending Sales 21 24 + 14.3% 514 624 + 21.4% Closed Sales 49 45-8.2% 516 600 + 16.3% Median Sales Price $775,000 $655,000-15.5% $665,000 $673,500 + 1.3% Avg. Sales Price $2,071,922 $971,968-53.1% $1,326,709 $1,289,466-2.8% Pct. of List Price Received 94.5% 94.1% - 0.4% 95.4% 95.5% + 0.1% Days on Market ` 198 154-22.2% 163 149-8.6% Affordability Index 45 55 + 22.2% 53 54 + 1.9% Active Listings 453 454 + 0.2% -- -- -- Months Supply 10.5 9.1-13.3% -- -- -- Current as of January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by 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 12-2014 12-2015 Percent YTD 2014 YTD 2015 Percent New Listings 102 57-44.1% 867 917 + 5.8% Pending Sales 46 40-13.0% 642 679 + 5.8% Closed Sales 55 64 + 16.4% 626 652 + 4.2% Median Sales Price $635,000 $527,500-16.9% $488,500 $495,000 + 1.3% Avg. Sales Price $1,087,566 $1,044,734-3.9% $955,576 $905,627-5.2% Pct. of List Price Received 95.1% 95.4% + 0.3% 95.3% 96.1% + 0.8% Days on Market 207 265 + 28.0% 188 155-17.6% Affordability Index 55 69 + 25.5% 72 73 + 1.4% Active Listings 451 420-6.9% -- -- -- Months Supply 8.6 7.7-10.5% -- -- -- Current as of January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by ShowingTime 10K. 3
New Listings A count of the properties that have been newly listed on the market in a given month. 32 40 102 66 58 57 Year to Date 857 845 867 790 2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015-39.6% + 25.0% + 45.0% 0.0% + 54.5% - 44.1% + 0.5% -1.4% + 14.7% -6.2% + 9.7% + 5.8% 969 917 New Listings Jan-2015 72 +26.3% 72 +35.8% Feb-2015 43 +22.9% 46-14.8% Mar-2015 69 +3.0% 96 +33.3% Apr-2015 77 0.0% 63-12.5% May-2015 105 +6.1% 98 +12.6% Jun-2015 181 +28.4% 111 +0.9% Jul-2015 117 +31.5% 97 +9.0% Aug-2015 86 +8.9% 96 +84.6% Sep-2015 75 +44.2% 60 +9.1% Oct-2015 49-19.7% 57-10.9% Nov-2015 37-22.9% 64 +12.3% Dec-2015 58 +45.0% 57-44.1% 12-Month Avg 81 +14.7% 76 +5.8% Historical New Listings by Month 200 175 150 125 100 75 50 25 Current as of January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by ShowingTime 10K. 4
Pending Sales A count of the properties on which offers have been accepted in a given month. 22 21 24 30 46 40 Year to Date 529 546 514 2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015-24.1% -4.5% + 14.3% - 16.7% + 53.3% - 13.0% - 10.8% -2.8% + 21.4% -7.0% + 17.6% + 5.8% 624 642 679 Pending Sales Jan-2015 42 +10.5% 42-12.5% Feb-2015 28-26.3% 41-10.9% Mar-2015 48-2.0% 49 +2.1% Apr-2015 66 +57.1% 61-12.9% May-2015 58 +61.1% 54 +58.8% Jun-2015 67 +55.8% 47 +20.5% Jul-2015 88 +49.2% 75 +7.1% Aug-2015 59 +9.3% 82-2.4% Sep-2015 51 0.0% 69 0.0% Oct-2015 60 +22.4% 69 +32.7% Nov-2015 33-2.9% 50 +38.9% Dec-2015 24 +14.3% 40-13.0% 12-Month Avg 52 +21.4% 57 +5.8% Historical Pending Sales by Month 90 80 70 60 50 40 30 20 Current as of January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by ShowingTime 10K. 5
Closed Sales A count of the actual sales that closed in a given month. 44 49 45 39 55 64 Year to Date 600 544 547 516 2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015-20.0% + 11.4% -8.2% - 20.4% + 41.0% + 16.4% -6.5% -5.1% + 16.3% -6.8% + 14.4% + 4.2% 626 652 Closed Sales Jan-2015 23-8.0% 38 +31.0% Feb-2015 27-10.0% 33 +6.5% Mar-2015 33 +17.9% 37-27.5% Apr-2015 42-10.6% 39-22.0% May-2015 42-6.7% 58 +1.8% 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% 65-16.7% Nov-2015 44 +4.8% 61 +35.6% Dec-2015 45-8.2% 64 +16.4% 12-Month Avg 50 +16.3% 54 +4.2% Historical Closed Sales by Month 100 80 60 40 20 0 Current as of January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by 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 $775,000 $665,000 $673,500 $600,000 $655,000 $635,000 $607,500 $527,500 $488,500 $495,000 $420,000 $425,300 2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015-5.1% + 27.6% - 15.5% -6.5% + 49.3% - 16.9% + 10.1% + 10.8% + 1.3% + 14.4% + 16.3% + 1.3% Historical Median Sales Price by Month $2,000,000 Median Sales Price Jan-2015 $926,250 +70.0% $975,250 +17.5% Feb-2015 $1,121,250 +28.3% $802,500-24.3% Mar-2015 $690,000-9.3% $755,000 +29.1% Apr-2015 $750,000 +0.8% $508,000-32.9% May-2015 $972,500 +66.2% $572,500 +14.5% 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% $475,000 +5.0% Nov-2015 $675,000-6.6% $529,000 +27.5% Dec-2015 $655,000-15.5% $527,500-16.9% 12-Month Avg* $673,500 +1.3% $495,000 +1.3% * Median Sales Price for all properties from January 2015 through 2015. 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 January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by 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 $1,326,709 $1,289,466 $2,071,922 $1,072,509 $955,576 $905,627 $799,673 $1,273,268 $1,087,566 $1,044,734 $971,968 $878,973 2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015 + 15.3% + 62.7% - 53.1% - 10.1% + 23.7% -3.9% -6.5% + 23.7% -2.8% + 1.9% + 19.5% -5.2% Historical Average Sales Price by Month $3,000,000 Avg. Sales Price Jan-2015 $1,873,446 +55.4% $1,269,471-10.0% Feb-2015 $1,558,564 +41.9% $1,141,142-8.5% Mar-2015 $1,304,972-12.0% $1,195,623 +40.8% Apr-2015 $1,235,525-42.8% $766,308-49.5% May-2015 $1,617,972 +30.6% $984,756-11.7% 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% $1,127,811 +19.4% Nov-2015 $1,194,902 +13.0% $904,931 +15.2% Dec-2015 $971,968-53.1% $1,044,734-3.9% 12-Month Avg* $1,289,466-2.8% $905,627-5.2% * Avg. Sales Price for all properties from January 2015 through 2015. 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 January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by 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. 94.9% 94.5% 94.1% 95.9% 95.1% 95.4% + 1.8% -0.4% -0.4% -0.2% -0.8% + 0.3% + 2.1% -0.2% + 0.1% + 0.9% + 0.5% + 0.8% Historical Percent of List Price Received by Month 100.0% 2013 2014 2015 Year to Date 95.6% 95.4% 95.5% 94.8% 95.3% 96.1% 2013 2014 2015 2013 2014 2015 2013 2014 2015 Pct. of List Price Received Jan-2015 92.9% -3.1% 95.3% +1.2% Feb-2015 95.8% +1.7% 95.4% +1.6% Mar-2015 95.2% -1.0% 95.7% +0.8% Apr-2015 95.5% +0.5% 96.5% +3.3% May-2015 94.2% -2.3% 96.0% +0.5% 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 94.1% -0.4% 95.4% +0.3% 12-Month Avg* 95.5% +0.2% 96.1% +0.8% * Pct. of List Price Received for all properties from January 2015 through 2015. 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 January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by 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 Historical Days on Market Until Sale by Month 500 277 265 212 188 198 207 161 163 149 155 154 137 2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015-32.5% + 44.5% - 22.2% + 18.9% - 25.3% + 28.0% - 10.1% + 1.2% -8.6% -0.9% - 11.3% - 17.6% Days on Market Jan-2015 182 +19.7% 166-18.2% Feb-2015 261 +9.2% 209 +8.9% Mar-2015 266 +47.8% 147-56.9% Apr-2015 202-1.9% 90-63.7% May-2015 173-13.5% 136-16.0% 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% 208 +27.6% Nov-2015 122-2.4% 126-19.2% Dec-2015 154-22.2% 265 +28.0% 12-Month Avg* 163-8.3% 188-17.7% * Days on Market for all properties from January 2015 through 2015. This is not the average of the individual figures above. 400 300 200 100 0 Current as of January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by 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 79 80 69 72 73 56 55 55 56 53 54 45 Historical Housing Affordability Index by Month 120 2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015-3.4% - 19.6% + 22.2% -3.7% - 30.4% + 25.5% - 17.6% -5.4% + 1.9% - 20.8% - 10.0% + 1.4% Affordability Index Jan-2015 40-34.4% 38-5.0% Feb-2015 33-13.2% 46 +43.8% Mar-2015 53 +20.5% 48-15.8% Apr-2015 49 +8.9% 73 +65.9% May-2015 38-35.6% 65-5.8% 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 55 +22.2% 69 +25.5% 12-Month Avg* 50 +4.3% 53 +3.7% * Affordability Index for all properties from January 2015 through 2015. This is not the average of the individual figures above. 100 80 60 40 20 0 Current as of January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by ShowingTime 10K. 11
Inventory of Active Listings The number of properties available for sale in active status at the end of a given month. 467 493 453 454 451 420 2013 2014 2015 2013 2014 2015-7.0% -3.0% + 0.2% - 18.0% -8.5% -6.9% Active Listings Jan-2015 474 +3.0% 471-3.3% Feb-2015 476 +7.7% 468-2.9% Mar-2015 484 +8.0% 506 +2.6% Apr-2015 470 +4.0% 471 +2.6% May-2015 495 +0.2% 487 +0.2% Jun-2015 579 +3.9% 536 +0.6% Jul-2015 586 +2.8% 539-0.2% Aug-2015 591 +2.4% 536 +11.0% Sep-2015 573 +7.5% 496 +14.8% Oct-2015 514 +3.4% 450 +6.6% Nov-2015 482 +0.8% 439 +4.0% Dec-2015 454 +0.2% 420-6.9% 12-Month Avg 515 +3.6% 485 +2.3% Historical Inventory of Active Listings by Month 1,000 900 800 700 600 500 400 Current as of January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by 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 10.8 10.3 10.5 9.1 8.6 7.7 2013 2014 2015 2013 2014 2015-1.0% + 1.9% - 13.3% - 12.2% - 20.4% - 10.5% Months Supply Jan-2015 11.1 +9.9% 8.9-16.8% Feb-2015 11.2 +14.3% 8.8-17.0% Mar-2015 11.3 +11.9% 9.7-8.5% Apr-2015 11.0 +6.8% 9.2-5.2% May-2015 11.7 +1.7% 9.5-5.9% Jun-2015 12.8 0.0% 10.1-8.2% Jul-2015 12.4-6.1% 10.0-9.1% Aug-2015 12.2-9.6% 10.0 0.0% Sep-2015 11.3-9.6% 9.3 +8.1% Oct-2015 10.2-12.8% 8.6 +3.6% Nov-2015 9.6-14.3% 8.2-1.2% Dec-2015 9.1-13.3% 7.7-10.5% 12-Month Avg 11.2-2.5% 9.2-6.4% * Months Supply for all properties from January 2015 through 2015. This is not the average of the individual figures above. 30.0 20.0 10.0 0.0 Current as of January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by 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 12-2014 12-2015 Percent YTD 2014 YTD 2015 Percent New Listings 143 115-19.6% 1,714 1,890 + 10.3% Pending Sales 67 64-4.5% 1,156 1,308 + 13.1% Closed Sales 104 109 + 4.8% 1,142 1,256 + 10.0% Median Sales Price $690,250 $564,000-18.3% $560,000 $585,000 + 4.5% Avg. Sales Price $1,551,350 $1,014,693-34.6% $1,123,268 $1,086,879-3.2% Pct. of List Price Received 94.9% 94.8% - 0.1% 95.4% 95.9% + 0.5% Days on Market 203 219 + 7.9% 177 152-14.1% Affordability Index 51 64 + 26.7% 62 62-0.9% Active Listings 906 874-3.5% -- -- -- Months Supply 9.5 8.4-11.6% -- -- -- Current as of January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by ShowingTime 10K. 14
Closed Sales Actual sales that have closed in a given month. By Price Range All Properties Rolling 12 Months 12-2014 12-2015 457 395 209 211 268 185 108 114 59 72 40 52 86 71 28 29 6 8 By Property Type 12-2014 12-2015 1,142 516 600 626 652 1,256-11.5% + 15.7% + 27.0% + 5.6% + 22.0% + 30.0% - 17.4% + 3.6% + 33.3% + 16.3% + 4.2% + 10.0% < $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 12-2014 12-2015 12-2014 12-2015 11-2015 12-2015 11-2015 12-2015 YTD 2013 YTD 2014 YTD 2013 YTD 2014 $299,999 and Below 67 60-10.4% 142 121-14.8% 5 3-40.0% 15 13-13.3% 67 60-10.4% 142 121-14.8% $300,000 to $599,999 171 201 + 17.5% 224 256 + 14.3% 14 17 + 21.4% 21 23 + 9.5% 171 201 + 17.5% 224 256 + 14.3% $600,000 to $999,999 115 141 + 22.6% 96 127 + 32.3% 9 10 + 11.1% 11 14 + 27.3% 115 141 + 22.6% 96 127 + 32.3% $1,000,000 to $1,499,999 49 61 + 24.5% 59 53-10.2% 6 7 + 16.7% 3 5 + 66.7% 49 61 + 24.5% 59 53-10.2% $1,500,00 to $1,999,999 30 40 + 33.3% 29 32 + 10.3% 1 5 + 400.0% 3 1-66.7% 30 40 + 33.3% 29 32 + 10.3% $2,000,000 to $2,499,999 18 27 + 50.0% 22 25 + 13.6% 2 1-50.0% 5 3-40.0% 18 27 + 50.0% 22 25 + 13.6% $2,500,000 to $4,999,999 45 45 0.0% 41 26-36.6% 7 1-85.7% 1 3 + 200.0% 45 45 0.0% 41 26-36.6% $5,000,000 to $9,999,999 15 19 + 26.7% 13 10-23.1% 0 1 -- 2 1-50.0% 15 19 + 26.7% 13 10-23.1% $10,000,000 and Above 6 6 0.0% 0 2 -- 0 0 -- 0 1 -- 6 6 0.0% 0 2 -- All Price Ranges 516 600 + 16.3% 626 652 + 4.2% 44 45 + 2.3% 61 64 + 4.9% 516 600 + 16.3% 626 652 + 4.2% Inventory of Active Listings A measure of the number of homes available for sale at a given time. By Price Range All Properties 12-2014 12-2015 176 141 152 169 123 113 107 119 133 103 93 43 57 64 88 31 34 34 By Property Type 12-2014 12-2015 906 453 454 451 420 874-27.9% - 12.8% - 35.8% + 11.2% + 29.1% + 12.3% + 11.2% - 5.4% 0.0% + 0.2% - 6.9% - 3.5% < $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 12-2014 12-2015 12-2014 12-2015 11-2015 12-2015 11-2015 12-2015 $299,999 and Below 21 15-28.6% 21 16-23.8% 18 15-16.7% 24 16-33.3% $300,000 to $599,999 52 40-23.1% 89 83-6.7% 46 40-13.0% 98 83-15.3% $600,000 to $999,999 73 51-30.1% 103 62-39.8% 68 51-25.0% 73 62-15.1% $1,000,000 to $1,499,999 46 59 + 28.3% 60 60 0.0% 68 59-13.2% 58 60 + 3.4% $1,500,00 to $1,999,999 57 68 + 19.3% 46 65 + 41.3% 72 68-5.6% 60 65 + 8.3% $2,000,000 to $2,499,999 30 35 + 16.7% 27 29 + 7.4% 35 35 0.0% 27 29 + 7.4% $2,500,000 to $4,999,999 99 108 + 9.1% 53 61 + 15.1% 104 108 + 3.8% 56 61 + 8.9% $5,000,000 to $9,999,999 50 52 + 4.0% 43 36-16.3% 48 52 + 8.3% 36 36 0.0% $10,000,000 and Above 25 26 + 4.0% 9 8-11.1% 23 26 + 13.0% 7 8 + 14.3% All Price Ranges 453 454 + 0.2% 451 420-6.9% 482 454-5.8% 439 420-4.3% 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 January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by 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 January 6, 2016. All data from the Vail Board of REALTORS MLS. Powered by ShowingTime 10K. 16