Q3 Micro Market Report 2020 | Vail Valley Luxury Report

MICROMARKET REPORT

VAIL VALLEY | Q3 2020

MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com

JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM

VAIL VALLEY

TOWNS & NEIGHBORHOODS

19

17 18

14 15

16

12 13

10 5

8 11 9

4

3

1

2

7

6

Pictured on cover: 602 Bachelor Ridge Road, Bachelor Gulch

1.

East Vail

8. Avon

15. Edwards & Homestead

2. Vail Golf Course & Spraddle Creek

9. Beaver Creek

16. Edwards - Lake Creek Valley

3. Vail Village

10. Mountain Star

17. Cordillera Valley Club

4. Lionshead

11. Bachelor Gulch

18. Cordillera

5. West Vail & Cascade

12. Wildridge/Wildwood

19. Eagle, Eagle Ranch, Brush Creek &

6. Minturn

13. Arrowhead

7. Eagle-Vail

14. Edwards - Singletree

Gypsum

coloradomicroreports.com coloradomicroreports.com

VAIL VALLEY MARKET UPDATE

EAGLE COUNTY January through September

2019

2020

% Change

Sold Listings (All Properties)

983

1,009

2.6%

Sold Single Family

312

358

14.7%

Sold Condos/TH/DP

671

651

-3.0%

Average Days on Market

121

123

1.7%

$1,268,554

$1,601,877

26.3%

96.6%

96.8%

0.2%

$1,246,988,946

$1,616,294,426

29.6%

Average Sold Price % Sold Price to List Price Total Sales Volume

All Properties

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 Vail Valley Valley MICROMARKET REPORT REPORT || Vail

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JANUARY -- SEPTEMBER 2020 •• COLORADOMICROREPORTS.COM JANUARY SEPTEMBER 2020 COLORADOMICROREPORTS.COM

VAIL Nestled between the Gore and Sawatch Mountain Ranges lies the town of Vail, Colorado, located just 100 miles west of Denver.

Established in 1966, Vail was founded by former members of the Army’s 10th Mountain Division who trained in the Vail Valley during World War II. Vail has since grown into one of the most famous alpine destinations in the world, hosting more open space than any other resort community in the United States. 350,000 acres of White River National Forrest surrounds the resort town creating a natural wonderland that attracts outdoor enthusiasts year-round.

Vail offers a variety of summer activities including scenic nature trails for hiking, mountain biking, and horseback riding. Families can take in the majestic views of the Gore Range with a gondola ride, and experience Vail Mountain’s Epic Discovery which includes interpretive trails and the exciting forest flyer mountain coaster. Golf enthusiasts can partake in a challenging round at one of Vail’s multiple golf courses while being surrounded by the breathtaking views of the surrounding Holy Cross Wilderness area. For those looking to experience the town’s amenities, Vail offers a variety of boutique shops, luxury spas and world-class dining options to enjoy. Though large in size, the town of Vail retains a small town feel with cobblestone streets, old world Bavarian architecture and a friendly community for those who have chosen to call the town of Vail their home.

Vail Mountain has over 5,200

8,150 Feet

The Vail Valley offers over 300

acres of skiable terrain

above sea level

days of sunshine per year

coloradomicroreports.com

TOWN OF VAIL January through September

2019

2020

Average Price

$2,149,938

$2,755,932

28.2%

$919

$1,063

15.7%

140

154

10.0%

$20,750,000

$29,750,000

43.4%

212

229

8.0%

95.4%

95.8%

0.5%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

Vail sits at an elevation of 8,150 feet, receives over 335 inches of annual snowfall, and is home to one of the leading ski resorts in North America, Vail Ski Resort.

All Properties - Includes East Vail to West Vail South

EAST VAIL

41.2%

January through September Average Price Average Price per Square Foot Average Days on Market

The average price for all properties in the

Highest Price

neighborhood of East Vail increased by 41.2%

Properties Sold

from January through September in 2020

% Sold Price to List Price

compared to that of 2019.

2019

2020

% Change

$962,842

$1,359,938

41.2%

$613

$685

11.7%

58

92

58.6%

$3,950,000

$4,800,000

21.5%

47

62

31.9%

96.5%

98.0%

1.6% All Properties

WEST VAIL & CASCADE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$1,576,788

$1,502,223

-4.7%

$611

$653

6.9%

126

117

-7.1%

$5,151,000

$5,378,000

4.4%

42

50

19.0%

95.5%

96.5%

1.0%

All Properties - Includes West Vail North to West Vail South, Highland Meadows and Cascade

2243 Tahoe Drive, Vail

MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com

JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM

VAIL VILLAGE 2019

Average Price

$3,906,274

$7,729,313

97.9%

$1,709

$2,154

26.0%

354

278

-21.5%

$19,000,000

$29,750,000

56.6%

The average price for all properties in the

31

42

35.5%

Vail Village increased by 97.9% from January

94.2%

91.6%

-2.7%

through September in 2020 compared to that

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

% Change

97.9%

January through September

of 2019.

All Properties

LIONSHEAD January through September

2019

2020

Average Price

$2,233,852

$2,586,921

15.8%

$1,405

$1,487

5.8%

132

196

48.5%

$8,500,000

$6,700,000

-21.2%

25

32

28.0%

96.3%

95.4%

-0.9%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

All Properties

454 Beaver Dam Road, Vail

VAIL GOLF & SPRADDLE CREEK January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

One of Vail’s most prestigious gated

$5,172,127

$3,335,000

-35.5%

$1,162

$1,078

-7.2%

162

114

-29.6%

Creek Estates offers

$17,250,000

$11,950,000

-30.7%

unparalleled views of Vail

18

9

-50.0%

Mountain and is bordered

91.9%

96.3%

4.7%

communities, Spraddle

by National Forest.

All Properties

coloradomicroreports.com

MINTURN January through September Average Price

2019

% Change

$848,427

$769,676

-9.3%

$436

$418

-4.1%

136

171

25.7%

$1,400,000

$1,220,000

-12.9%

11

17

54.5%

94.7%

95.7%

1.1%

Average Price per Square Foot Average Days on Market Highest Price

2020

Properties Sold % Sold Price to List Price

All Properties

103 Lions Lane, Minturn

MOUNTAIN STAR January through September

2019

2020

Average Price

$3,045,000

$6,010,000

97.4%

Mountain Star is a gated

$538

$762

41.6%

community that provides

609

230

-62.2%

wide-open space and

$3,045,000

$8,530,000

180.1%

stunning views of the

1

4

300.0%

87.1%

93.3%

7.1%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

surrounding mountains

All Properties

WILDRIDGE/WILDWOOD January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

587 Paintbrush, Avon

2019

2020

% Change

$867,342

$1,132,190

30.5%

$333

$371

11.4%

96

103

7.3%

$2,900,000

$2,525,000

-12.9%

35

28

-20.0%

97.0%

96.9%

-0.1% All Properties

MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com

JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM

BEAVER CREEK Beaver Creek Resort is known for its world-class events and stunning beauty, delivering an unmatched, unparalleled Colorado mountain experience with upscale art galleries, high-end boutiques, premium spa and restaurant options, as well as some of the best skiing the Colorado Rocky Mountains have to offer. Located in the heart of this gated alpine community, Beaver Creek’s charming pedestrian plaza features an outdoor ice rink surrounded by cozy firepits and inviting seating areas and is home to many events and festivals throughout the year. The Vilar Performing Arts Center provides an intimate, acoustical venue for year-round live entertainment including Grammy award-winning artists, family extravaganzas, jazz music events, concerts, and celebrated theater performances.

Summer activities are plentiful in Beaver Creek. Take a scenic chairlift ride on the Centennial Express Lift to the top of Beaver Creek Mountain, where you can hike numerous trails and take in the stunning views of the Gore Range and the village below.

Discover miles of rolling, single-track mountain biking trails for all ability levels or experience the beauty of Beaver Creek on horseback. The Eagle River and Colorado River offer gold medal fly-fishing options and rafting adventures. Challenge yourself on world-renowned golf courses including Beaver Creek Golf Club and Red Sky Golf Club. Whether you enjoy speeding down the mountain on a mountain bike, spending an afternoon on the fairway or experiencing fine dining, Beaver Creek Resort provides a quintessential summer Colorado mountain experience in a luxury setting.

Over 1,800 acres of skiable

8,100 Feet

Located 30 miles from Eagle

terrain

above sea level

County Regional Airport (EGE)

coloradomicroreports.com

BEAVER CREEK January through September

2019

2020

Average Price

$1,628,046

$2,262,498

39.0%

$738

$839

13.7%

180

168

-6.7%

$6,950,000

$12,375,000

78.1%

85

59

-30.6%

94.1%

95.8%

1.8%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

3483 Daybreak Ridge Road, Avon

All Properties

BEAVER CREEK January through September

Beaver Creek delivers an 2019

$5,465,000

74.5%

$629

$784

24.6%

288

166

-42.4%

$6,950,000

$12,375,000

78.1%

9

6

-33.3%

92.2%

94.9%

3.0%

Average Price per Square Foot Average Days on Market

Properties Sold % Sold Price to List Price

unmatched, unparalleled

% Change

$3,132,111

Average Price

Highest Price

2020

mountain vacation experience with upscale galleries, high-end boutiques, premium spa and lodging options, as well as some of the best skiing the Colorado Rocky

Single Family Homes

31.0%

Mountains has to offer.

BEAVER CREEK January through September

2019

2020

Average Price

$1,449,933

$1,899,950

31.0%

$751

$845

12.5%

167

169

1.2%

$6,316,666

$8,150,000

29.0%

76

53

-30.3%

94.3%

95.9%

1.7%

Average Price per Square Foot

The average price for condominiums,

Average Days on Market

townhomes, duplexes and triplexes increased

Highest Price

by 31.0% from January through September in

Properties Sold

2020 compared to that of 2019.

% Sold Price to List Price

% Change

Condominiums, Townhomes, Duplexes and Triplexes

MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com

JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM

BACHELOR GULCH January through September

2019

2020

Average Price

$2,783,888

$3,245,556

16.6%

$904

$960

6.2%

209

162

-22.5%

$10,200,000

$12,995,000

27.4%

18

44

144.4%

95.1%

95.2%

0.1%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

All Properties

168 Peak View, Bachelor Gulch

BACHELOR GULCH

Charmingly tucked away between Beaver Creek and Arrowhead, Bachelor

January through September

2019

Average Price

$7,565,000

$7,381,750

-2.4%

$955

$933

-2.3%

148

297

100.7%

$10,200,000

$12,995,000

27.4%

3

10

233.3%

98.7%

93.6%

-5.2%

Average Price per Square Foot

Gulch offers private

Average Days on Market

mountainside living and

Highest Price

access to a five-star luxury

Properties Sold

resort-hotel, The Ritz-

% Sold Price to List Price

Carlton, Bachelor Gulch.

2020

% Change

Single Family Homes * There was only 1 property sold in 2019 and 2020 contributing to a significant skew in Average Days on Markets.

BACHELOR GULCH January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$1,827,666

$2,029,029

11.0%

$894

$968

8.3%

221

123

-44.3%

$3,250,000

$3,875,000

19.2%

15

34

126.7%

94.3%

95.6%

1.4%

11.0%

The average price for condos, townhomes, duplexes and triplexes in the village of Bachelor Gulch increased by 11.0% in January through September in 2020 compared to that of 2019.

Condominiums, Townhomes, Duplexes and Triplexes

coloradomicroreports.com

ARROWHEAD January through September

2019

2020

Average Price

$1,930,023

$2,248,575

16.5%

$617

$618

0.2%

146

$180

23.3%

$9,300,000

$13,500,000

45.2%

42

49

16.7%

95.1%

94.6%

-0.5%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

All Properties

133 S Fairway Drive, Beaver Creek

ARROWHEAD January through September

2019

Average Price

$3,736,458

$4,133,071

10.6%

$670

$638

-4.8%

178

303

70.2%

$9,300,000

$13,500,000

45.2%

12

14

16.7%

94.9%

92.7%

-2.3%

Average Price per Square Foot

2020

Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

Arrowhead, the westernmost village of Beaver Creek, offers skiers quick access to beginner and intermediate terrain on Beaver Creek Mountain.

Single Family Homes

23.8%

The average price for condos, townhomes, duplexes and triplexes in the village of

Arrowhead increased by 23.8% from January through September in 2020 compared to that of 2019.

ARROWHEAD January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$1,207,450

$1,494,777

23.8%

$596

$610

2.3%

133

131

-1.5%

$1,900,000

$3,375,000

77.6%

30

35

16.7%

95.1%

95.4%

0.3%

Condominiums, Townhomes, Duplexes and Triplexes

MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com

JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM

EDWARDS Edwards is a mountain town defined by world-class recreation with an authentic small-town feel. Established in 1984, the unincorporated town is nestled in the heart of the Vail Valley just five miles west of Beaver Creek, 15 miles west of Vail, and 110 miles west of Denver. Ideally situated below the Sawatch Mountain Range with the Eagle River running through it, Edwards is a scenic place to live, work, and play. On any given day you will find residents strolling along the Riverwalk, an area located on the Eagle River that is comprised of boutique shops, restaurants, local businesses, and a movie theater. Summer days are enjoyed with concerts at the Edwards Riverwalk Backyard Amphitheater, bike riding on the Eagle Valley recreational path, fly fishing, and rafting adventures. For the winter season, skiers and snowboarders have easy access to Beaver Creek Mountain from nearby Arrowhead, one of the three distinct Villages of Beaver Creek. What makes Edwards truly unique is its neighborhoods, some located within the Edwards Metropolitan District, and others with a district of their own. All of these neighborhoods encompass the greater Edwards area and offer a distinct sense of place, with natural beauty and amenity-rich attractions at their core.

Edwards is an unincorporated

7,226 Feet

Home to the Club at Cordillera

town, established in 1984

above sea level

with 3 world class golf courses

coloradomicroreports.com

EDWARDS & HOMESTEAD January through September Average Price

2019

% Change

$731,394

$739,417

1.1%

$365

$384

5.2%

78

54

-30.8%

$3,700,000

$1,795,000

-51.5%

79

56

-29.1%

97.7%

97.8%

0.1%

Average Price per Square Foot Average Days on Market Highest Price

2020

Properties Sold % Sold Price to List Price

All Properties

292 Aspen Meadows Rd, Edwards

EDWARDS - LAKE CREEK

Positioned almost at the

January through September

2019

Average Price

$2,558,000

$1,876,875

-26.6%

$454

$471

3.7%

159

164

3.1%

$4,850,000

$2,895,000

-40.3%

10

8

-20.0%

94.1%

95.1%

1.0%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

center of the Eagle River

% Change

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

All Properties

sunny climate.

EDWARDS - SINGLETREE January through September

2019

Average Price

$1,165,040

$1,283,210

10.1%

$373

$384

2.9%

102

103

1.0%

$2,175,000

$3,375,000

55.2%

40

42

5.0%

96.3%

96.0%

-0.3%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

1770 Beard Creek Trail, Cordillera

2020

% Change

All Properties

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CORDILLERA/VALLEY CLUB January through September

2019

2020

Average Price

$2,448,668

$2,090,916

-14.6%

$414

$382

-7.7%

222

238

7.2%

$15,454,000

$3,800,000

-75.4%

45

62

37.8%

93.3%

94.8%

1.6%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

All Properties – Includes Cordillera Valley Club, Cordillera Divide, Cordillera Ranch, Cordillera Summit, Colorow Squaw Creek

722 Granite Springs Trail, Edwards

CORDILLERA The Club at Cordillera offers its members an

January through September

2019

Average Price

$2,293,827

$1,905,748

-16.9%

$373

$349

-6.4%

258

263

1.9%

$15,454,000

$2,800,000

-81.9%

31

52

67.7%

92.7%

94.6%

2.1%

Average Price per Square Foot

unparalleled lifestyle

Average Days on Market

experience, with access

Highest Price

to world-class golfing,

Properties Sold

exquisite dining, and lively

% Sold Price to List Price

events.

2020

% Change

All Properties – Includes Cordillera Divide, Cordillera Ranch, Cordillera Summit, Colorow Squaw Creek

CORDILLERA VALLEY CLUB January through September

2019

2020

Average Price

$2,791,530

$3,053,790

9.4%

$504

$552

9.5%

143

109

-23.8%

$4,650,000

$3,500,000

-24.7%

14

10

-28.6%

94.8%

96.0%

1.2%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

9.4%

% Change

The average price for all properties in Cordillera Valley Club increased by 9.4% from January through September in 2020 compared to that of 2019.

All Properties

coloradomicroreports.com

EAGLE-VAIL, AVON & WILDRIDGE

Avon is nestled at the base

January through September

of Beaver Creek Resort,

2019

Average Price

and features Harry A. Nottingham Park which

Average Price per Square Foot

provides a variety of

Average Days on Market

activities, open space and

Highest Price

trails to enjoy year round,

Properties Sold

including Nottingham Lake.

% Sold Price to List Price

2020

% Change

$730,253

$838,896

14.9%

$439

$476

8.4%

95

86

-9.5%

$2,900,000

$3,500,000

20.7%

167

160

-4.2%

97.0%

97.2%

0.2% All Properties

EAGLE & GYPSUM January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

14.9%

% Change

$544,292

$625,522

14.9%

$255

$265

3.9%

94

72

-23.4%

$3,999,000

$2,500,000

-37.5%

235

232

-1.3%

and Gypsum increased by 14.9% from January

99.1%

99.3%

0.2%

through September in 2020 compared to that

The average price for all properties in Eagle

of 2019.

All Properties - Includes Eagle Ranch, Brush Creek, Cotton Ranch/Chatfield

ALL OTHER VAIL AREAS January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

78 Rue Du Prince, Edwards

2019

2020

% Change

$1,582,179

$1,294,448

-18.2%

$630

$616

-2.2%

106

181

70.8%

$20,750,000

$5,000,000

-75.9%

54

39

-27.8%

95.1%

95.9%

0.8%

All Properties - Includes Booth Creek, Potato Patch, Sandstone, Lionsridge, Valley Ridge at Vail (Now Buffehr Creek), Highland Meadows

MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com

JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM

The life you love.

resorts.livsothebysrealty.com | coloradomicroreports.com 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 resorts.livsothebysrealty.com

JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM