MICROMARKET REPORT Eagle County • Quarter 1 2017
VAIL VALLEY NEIGHBORHOODS 1.
East Vail
2.
Vail Golf Course & Spraddle Creek
3.
Vail Village
4. Lionshead 5.
West Vail & Cascade
6. Minturn 7. Eagle-Vail
19
8. Avon 17 18
16
14 15
12 13
10
11 9
5
8 7
6
4
3
2
1
9.
Beaver Creek
10.
Mountain Star
11.
Bachelor Gulch
12. Wildridge/Wildwood 13. Arrowhead 14.
Edwards - Singletree
15.
Edwards & Homestead
16.
Edwards - Lake Creek Valley
17.
Cordillera Valley Club
18. Cordillera 19.
Eagle, Eagle Ranch, Brush Creek & Gypsum
Pictured on cover: 1860 Cresta Road, Edwards
coloradomicroreports.com
VAIL VALLEY Market Introduction Eagle County and the Vail Valley’s residential real estate market remains robust. In addition to several eye-popping transactions taking place in Vail and Beaver Creek early in the year, the desire for “turnkey” homes in ready to move in shape continues to be a driving factor in the Vail Velley real estate market. A number of good values in Beaver Creek seem to be attracting more attention, both in condos and homes. The middle of the market across the Vail Valley is experiencing lower inventory and limited newer product, and the mid-valley markets have seen robust activity with local buyers and entry level second home purchaser’s.
EAGLE COUNTY January through March Sold Listings (All Properties)
Highlights from the Vail Valley area include Bachelor Gulch’s average price rising to $5,688,571, up 116%, from 2016. Vail Village’s average price rose to $4,873,136, up 144.1%, from 2016 and Eagle County’s average price rose to $1,291,204, up 31.9% from 2016.
livsothebysrealty.com
2017
% Change
217
256
18.0%
54
96
77.8%
Sold Condos/TH/DP
163
160
-1.8%
Average Days on Market
167
159
-4.8%
$978,638
$1,291,204
31.9%
95.2%
95.0%
-0.1%
$212,364,436
$330,548,259
55.7%
Sold Single Family
Average Price % Sold Price to List Price Total Dollar Volume Sold
All Properties
The Vail Valley area Micro Market Report (MMR), prepared by LIV Sotheby’s International Realty, compares 2017 Q1 statistics (January through March), to that of 2016, for single family homes and attached dwellings in Eagle County. The number of single family homes and condos sold rose to 256, an 18% increase year-over-year, with average days on market decreasing 4.8% to 159 from 2016. Sales price to list price ratio is holding at 95% throughout the Vail Valley, which is evidence of continued competitive conditions in the marketplace.
2016
During Q1 2017,
256
homes sold for an average of
$1,291,204
or, $330,548,259 total dollar volume sold.
Based on Information from Vail Board of Realtors®. This representation is based in whole or in part on data supplied by Vail Board of Realtors®. Vail Board of Realtors® does not guarantee nor is in any way responsible for its accuracy. Data maintained by Vail Board of Realtors® may not reflect all real estate activity in the market.
MICROMARKET REPORT | Vail Valley QUARTER 1 2017 • COLORADOMICROREPORTS.COM
ARROWHEAD January through March
2016
Average Price
$1,586,314
$1,366,534
-13.9%
$542
$552
1.8%
146
109
-25.3%
$3,980,000
$2,833,875
-28.8%
7
11
57.1%
94.1%
96.0%
2.0%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
% Change
Arrowhead boasts a convenient location, connecting world-class Beaver Creek resort through a network of chairlifts and ski trails.
All Properties
ARROWHEAD January through March Average Price
2016
$2,354,438
-40.8%
$790
$468
-40.8%
466
330
-29.2%
$3,980,000
$2,833,875
-28.8%
1
2
100.0%
87.5%
94.4%
7.9%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$3,980,000
Average Price per Square Foot
Highest Price
2017
Single Family Homes 348 Cresta Road, Arrowhead
ARROWHEAD January through March
2016
2017
Average Price
$1,187,367
$1,147,000
-3.4%
$501
$571
14.0%
93
60
-35.5%
$1,950,000
$2,056,000
5.4%
6
9
50.0%
95.8%
95.5%
-0.2%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes
% Change
14.0%
The average price per square foot for condos, townhomes, and duplexes in Arrowhead increased by 4.0% in Q1 2017 compared to Q1 2016.
coloradomicroreports.com
BACHELOR GULCH January through March Average Price
2016
$5,688,571
116.0%
$848
$981
15.7%
255
160
-37.3%
$3,175,000
$13,400,000
322.0%
6
7
16.7%
95.3%
95.8%
0.5%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$2,634,150
Average Price per Square Foot
Highest Price
2017
All Properties 2150 Daybreak Ridge, Bachelor Gulch
50.9%
During Q1 2017, the average price of single family homes in Bachelor Gulch increased by 50.9% compared to Q1 2016.
BACHELOR GULCH January through March Average Price
2016
$9,315,000
50.9%
$634
$1,092
72.2%
413
118
-71.4%
$6,175,000
$13,400,000
117.0%
1
3
200.0%
95.0%
96.8%
1.9%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$6,175,000
Average Price per Square Foot
Highest Price
2017
Single Family Homes
BACHELOR GULCH January through March
The luxury Ritz-Carlton, Bachelor Gulch is one of the largest freestanding log “cabins” in the United States. The structure is literally built into the side of the mountain, including the award-winning spa, which makes the pampering stay even more quiet and tranquil.
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$1,925,980
$2,968,750
54.1%
$890
$897
0.8%
223
192
-13.9%
$2,400,000
$5,275,000
119.8%
5
4
-20.0%
94.7%
94.3%
-0.3%
Condos, Townhomes, Duplexes
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
QUARTER 1 2017 • COLORADOMICROREPORTS.COM
BEAVER CREEK January through March
2016
Average Price
$1,929,361
$2,035,106
5.5%
$772
$801
3.8%
193
258
33.7%
$6,735,000
$6,040,000
-10.3%
18
18
0.0%
93.5%
95.1%
1.7%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
% Change
Beaver Creek is home to the Audi Birds of Prey World Cup, which brings together hundreds of top male skiers as they compete to be named World Champion.
All Properties
BEAVER CREEK January through March
2016
Average Price
$1,475,000
$4,600,000
211.9%
$601
$683
13.6%
16
425
2556.3%
$1,475,000
$4,600,000
211.9%
1
1
0.0%
93.7%
94.9%
1.3%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
% Change
13.6%
During Q1 2017, the average price per square foot for single family homes in Beaver Creek increased by 13.6% compared to Q1 2016.
Single Family Homes
BEAVER CREEK January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$1,956,088
$1,884,229
-3.7%
$782
$808
3.3%
203
249
22.7%
$6,735,000
$6,040,000
-10.3%
17
17
0.0%
93.6%
95.1%
1.6%
Condos, Townhomes, Duplexes 373 Strawberry Park Road, Beaver Creek
coloradomicroreports.com
6.6%
CORDILLERA/VALLEY CLUB January through March
2016
Average Price
$1,454,944
6.6%
$325
$330
1.5%
68
318
367.6%
$1,565,000
$2,112,500
35.0%
2
9
350.0%
92.8%
92.4%
-0.4%
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
$1,365,000
Average Price per Square Foot
The average price for Cordillera and Cordillera Valley Club increased by 6.6% in Q1 2017 compared to Q1 2016.
2017
All Properties
CORDILLERA January through March
2016
Average Price
$1,390,286
1.9%
$325
$321
-1.2%
68
341
401.5%
$1,565,000
$2,000,000
27.8%
2
7
250.0%
92.8%
92.1%
-0.8%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$1,365,000
Average Price per Square Foot
Highest Price
2017
All Properties 525 Forest Trail, Cordillera
CORDILLERA VALLEY CLUB January through March
The gated community of Cordillera offers 7,000 acres of panoramic views with access to private fly fishing waters, a golf course, and an equestrian center.
2016
2017
% Change
Average Price
-
$1,681,250
-
Average Price per Square Foot
-
$362
-
Average Days on Market
-
239
-
Highest Price
-
$2,112,500
-
No Sales
2
-
-
91.6%
-
Properties Sold % Sold Price to List Price All Properties
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
QUARTER 1 2017 • COLORADOMICROREPORTS.COM
EDWARDS & HOMESTEAD January through March Average Price
2016
$506,861
7.9%
$283
$368
30.0%
112
44
-60.7%
$835,000
$1,645,000
97.0%
12
18
50.0%
94.9%
97.0%
2.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$469,667
Average Price per Square Foot
Highest Price
2017
All Properties 1548 Via La Favorita, Edwards
EDWARDS - LAKE CREEK VALLEY January through March
2016
2017
% Change
Average Price
-
$2,650,000
-
Average Price per Square Foot
-
$440
-
Average Days on Market
-
245
-
Highest Price
-
$3,650,000
-
No Sales
2
-
-
94.8%
-
Properties Sold % Sold Price to List Price
Positioned almost at the center of the Eagle River Valley, Edwards benefits from geography that lends well to rolling green golf courses – and receives less snow than the high peaks of the nearby ski mountains for a much more mild and sunny climate.
All Properties
EDWARDS - SINGLETREE January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$1,268,000
$1,013,500
-20.1%
$316
$366
15.8%
208
362
74.0%
$1,875,000
$1,609,000
-14.2%
4
8
100.0%
91.2%
94.9%
4.0%
All Properties 124 Spring Place, Edwards
coloradomicroreports.com
65.0%
During Q1 2017, the average price in Town of Vail increased by 65% compared to Q1 2016.
TOWN OF VAIL January through March
2016
2017
Average Price
$1,382,531
$2,281,301
65.0%
$795
$898
13.0%
296
235
-20.6%
$4,220,000
$23,000,000
445.0%
57
60
5.3%
94.3%
97.0%
2.9%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
All Properties
EAST VAIL January through March Average Price
2016
$1,149,867
64.0%
$480
$528
10.0%
62
187
201.6%
$3,075,000
$3,750,000
22.0%
11
15
36.4%
95.4%
95.6%
0.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$701,300
Average Price per Square Foot
Highest Price
2017
All Properties 1242 Westhaven Circle, Vail
33.9%
The average price per square foot for West Vail and Cascade increased by 33.9% in Q1 2017 compared to Q1 2016.
WEST VAIL & CASCADE January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$967,792
$2,114,305
118.5%
$543
$727
33.9%
306
162
-47.1%
$2,000,000
$5,500,000
175.0%
12
10
-16.7%
93.6%
93.7%
0.1%
All Properties
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
QUARTER 1 2017 • COLORADOMICROREPORTS.COM
VAIL VILLAGE January through March Average Price Average Price per Square Foot
2016
$4,873,136
144.1%
$1,467
$1,765
20.3%
586
245
-58.2%
$3,750,000
$23,000,000
513.3%
12
11
-8.3%
94.7%
91.1%
-3.8%
Properties Sold % Sold Price to List Price
% Change
$1,996,458
Average Days on Market Highest Price
2017
20.3%
The average price per square foot for Vail Village increased by 20.3% in Q1 2017 compared to Q1 2016.
All Properties
LIONSHEAD January through March Average Price Average Price per Square Foot
2016
$3,553,833
17.5%
$1,654
$1,410
-14.8%
172
912
430.2%
$4,220,000
$12,425,000
194.4%
3
6
100.0%
89.9%
93.0%
3.4%
Properties Sold % Sold Price to List Price
% Change
$3,023,333
Average Days on Market Highest Price
2017
All Properties 3235 Katsos Ranch Road, Vail
VAIL GOLF COURSE/SPRADDLE CREEK January through March
2016
Average Price
$2,073,750
$1,308,500
-36.9%
Average Price per Square Foot
$741
$664
-10.4%
Average Days on Market
340
83
-75.6%
$4,000,000
$1,900,000
-52.5%
8
2
-75.0%
96.8%
92.7%
-4.2%
Highest Price Properties Sold % Sold Price to List Price
2017
% Change
Vail Golf Club is highlighted by unparalleled views of the Gore Mountain Range and offers an 18-hole course with 6,766 yards of golf.
All Properties
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ALL OTHER VAIL AREAS January through March
2016
Average Price
% Change
$921,582
$1,370,147
48.7%
$468
$591
26.3%
205
85
-58.5%
$1,990,000
$4,380,000
120.1%
12
17
41.7%
96.5%
94.4%
-2.2%
Average Price per Square Foot Average Days on Market Highest Price
2017
Properties Sold % Sold Price to List Price
Booth Creek, Highland Meadows, Potato Ranch, Sandstone Ridge, Valley Ridge at Vail 5792 Wildridge Road, Avon
13.5%
During Q1 2017, the average price of Eagle-Vail, Avon, and Wildridge increased by 13.5% compared to Q1 2016.
EAGLE-VAIL, AVON, & WILDRIDGE January through March Average Price
2016
% Change
$605,382
$687,297
13.5%
$424
$399
-5.9%
97
137
41.2%
$1,850,000
$4,306,000
132.8%
51
40
-21.6%
97.7%
95.5%
-2.3%
Average Price per Square Foot Average Days on Market Highest Price
2017
Properties Sold % Sold Price to List Price All Properties
EAGLE & SURROUNDING AREAS January through March Average Price
2016
% Change
$461,000
$455,438
-1.2%
$196
$218
11.2%
94
75
-20.2%
$935,000
$1,400,000
49.7%
33
47
42.4%
95.8%
97.5%
1.8%
Average Price per Square Foot Average Days on Market Highest Price
2017
Properties Sold % Sold Price to List Price Eagle, Eagle Ranch, Brush Creek, & Gypsum 2480 Saddle Ridge Loop, Avon
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
QUARTER 1 2017 • COLORADOMICROREPORTS.COM
MINTURN January through March Average Price
2016
$691,750
-17.2%
$306
$380
24.2%
160
127
-20.6%
$1,640,000
$1,060,000
-35.4%
4
4
0.0%
91.5%
95.0%
3.8%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$835,750
Average Price per Square Foot
Highest Price
2017
24.2%
The average price per square foot for Minturn increased by 24.2% in Q1 2017 compared to Q1 2016.
All Properties
MOUNTAIN STAR January through March Average Price
2016
-
-
$521
-
-
250
-
-
$3,450,000
-
-
1
No Sales
-
86.4%
-
-
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$3,450,000
Average Price per Square Foot
Highest Price
2017
All Properties 56 Rose Crown, Mountain Star
WILDRIDGE/WILDWOOD January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$827,500
$1,190,107
43.8%
$349
$362
3.7%
228
76
-66.7%
$1,050,000
$4,306,000
310.1%
2
7
250.0%
96.2%
95.4%
-0.8%
Wildridge is located on the opposite side of Eagle Valley from Beaver Creek and offers a variety of hiking paths that extend to vail.
All Properties
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livsothebysrealty.com | coloradomicroreports.com Based on Information from Vail Board of Realtors速. This representation is based in whole or in part on data supplied by Vail Board of Realtors速. Vail Board of Realtors速 does not guarantee nor is in any way responsible for its accuracy. Data maintained by Vail Board of Realtors速 may not reflect all real estate activity in the market.