2014 1st Quarter Vail Valley Market Trend Report
90 Brokers | 7 Vail Valley Offices | Since 1971 BHHSColoradoProperties.com
April 2014 Dear Friends, The first quarter has come to a close with a number of positive market trends to report. First and foremost, activity remains steady relative to last year. With a record number of visitors converging on the Vail Valley this winter the real estate market seemed to break free of the divide between buyers and sellers in the resorts of Vail and Beaver Creek. One indicator of this equilibrium in the market is “days on market” of closed properties. Most areas are showing a higher days on market – meaning that buyers and sellers, some holding out their moves for months or years, are sending a message – now is the time to buy and sell. Buyers continue to flock to the market with very unique/limited properties in high-demand and those priced to the market selling. Price is the great equalizer and those sellers who price to the market are experiencing more activity and faster sales. On the valley floor and especially down valley in Eagle and Gypsum, inventory levels remain critically low. Property owners looking to sell their homes have a large buyer pool waiting for homes to become available. And while prices have found a support level and are seeing reasonable increases, the buyers in waiting remain cognoscente of values and are buying at “fair”, and not inflated, prices. The message to sellers in today’s market – price your home to the market. The homes priced appropriately generally receive more interest, faster sales and at higher prices than those sellers trying to “test” the market. And for buyers, with limited inventory it is critical that they move quickly on properties of interest. I hope the following information is beneficial as you learn more about the market in the Vail Valley. Please contact your Berkshire Hathaway HomeServices broker for more information on these trends or any other questions about real estate in the Vail Valley. Sincerely,
Michael Slevin, President Berkshire Hathaway HomeServices
BHHSColoradoProperties.com
2014 Residential Market Snapshot – Supply versus Demand Residential Active Listings and Properties Under Contract
2000 1800
Listings and Contracts
1600 1400 1200 1000 800 600 400 200
3-Apr-06 3-Jul-06 3-Oct-06 3-Jan-07 3-Apr-07 3-Jul-07 3-Oct-07 3-Jan-08 3-Apr-08 3-Jul-08 3-Oct-08 3-Jan-09 3-Apr-09 3-Jul-09 3-Oct-09 3-Jan-10 3-Apr-10 3-Jul-10 3-Oct-10 3-Jan-11 3-Apr-11 3-Jul-11 3-Oct-11 3-Jan-12 3-Apr-12 3-Jul-12 3-Oct-12 3-Jan-13 3-Apr-13 3-Jul-13 3-Oct-13 3-Jan-14 3-Apr-14
0
April 3, 2006 - April 6, 2014
Active Listings
All data in this report is derived from the Vail MLS – residential transactions only.
Under Contracts
BHHSColoradoProperties.com
2014 Q1 Residential Market Review Price Segments and Geographic Regions
All Residential Sales
Units Sold
Dollar Volume
2013
2014
% Change
2013
2014
% Change
0 - $300,000
60
32
-46.67%
$12,178,445
$7,170,600
-41.12%
$300,001 - $700,000
52
66
26.92%
$23,691,297
$30,089,296
27.01%
$700,001 - $1,000,000
32
27
-15.63%
$26,686,000
$22,867,400 -14.31%
$1,000,001 - $2,000,000
32
41
28.13%
$47,707,850
$55,967,000
17.31%
$2,000,001 - $5,000,000
15
26
73.33%
$41,305,000
$78,850,249
90.90%
$5,000,000+
4
4
0.00%
$31,395,000
$34,045,000
8.44%
Area Activity Vail Village, Lionshead, Cascade Units Dollar Volume
2013 18 $52,065,000
2014 18 $53,334,000
% Change 0.00% 2.44%
Beaver Creek, Bachelor Gulch, Arrowhead Units Dollar Volume
29 $47,285,500
51 $93,882,000
75.86% 98.54%
Mid-Valley* Units Dollar Volume
62 $43,827,600
50 $37,302,203
-24.00% -14.89%
Eagle/Gypsum Units Dollar Volume
57 $19,358,595
43 $14,724,593
-24.56% -23.94%
Overall Units Dollar Volume
195 $182,963,592
196 $228,989,545
0.51% 25.16%
*Mid Valley = Minturn - Wolcott - not including Beaver Creek Resort or Mountain Star
BHHSColoradoProperties.com
2014 Q1 Vail Valley Residential Market Report (All Types) Residential Sales Year
Sales Volume
Number of Sales
Average Sale Price
Median Sale Price
Average Days on Market
2010
$261,919,502
192
$1,364,164
$763,500
332
2011
$227,307,477
215
$1,057,244
$499,000
200
2012
$245,831,244
208
$1,181,881
$483,813
205
2013
$182,963,592
195
$938,275
$552,500
180
2014
$228,989,545
196
$1,168,314
$702,500
231
% Change from 2013
+25.16%
+0.51%
+24.52%
+27.15%
+28.33%
BHHSColoradoProperties.com
2014 Q1| East Vail and Booth Falls Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$8,350,000
5
$1,670,000
$432
416
2013
$10,382,500
7
$1,483,214
$508
171
2014
$5,643,249
4
$1,410,812
$471
119
% Change from 2013
-45.65%
-42.86%
-4.88%
-7.28%
-30.41%
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$3,529,000
9
$345,000
$390
177
2013
$3,480,000
8
$435,000
$414
136
2014
$3,569,000
7
$509,857
$433
116
% Change from 2013
+2.56%
-12.50%
+17.21%
+4.59%
-14.71%
BHHSColoradoProperties.com
2014 Q1 | Vail Golf Course Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$4,600,000
2
$2,300,000
$1,230
775
2013
$18,925,000
5
$3,785,000
$879
647
2014
0
0
N/A
N/A
N/A
% Change from 2013
-
-
-
-
-
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
0
0
0
0
0
2013
$625,000
1
$625,000
$525
49
2014
0
0
0
0
0
% Change from 2013
-
-
-
-
-
BHHSColoradoProperties.com
2014 Q1 | Vail Village Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$14,100,000
1
$14,100,000
$2601
738
2013
$17,900,000
2
$8,950,000
$1,313
67
2014
$15,700,000
2
$7,850,000
$1,564
244
% Change from 2013
-12.29%
0.00%
-12.29%
+19.12%
+264.18%
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$36,383,000
16
$2,273,938
$1,476
326
2013
$13,720,000
6
$2,286,667
$1,205
643
2014
$18,600,000
5
$3,720,000
$1,767
736
% Change from 2013
+35.57%
-16.67%
+62.68%
+46.64%
+14.46%
BHHSColoradoProperties.com
2014 Q1 | Lionshead Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$7,500,000
1
$7,500,000
$1,750
27
2013
$5,500,000
1
$5,500,000
$1,642
353
2014
0
0
0
0
0
% Change from 2013
-
-
-
-
-
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$15,655,000
6
$2,609,167
$1,348
275
2013
$11,960,000
7
$1,708,571
$1,180
223
2014
$19,034,000
11
$1,730,364
$1,040
381
% Change from 2013
+59.15%
+57.14%
+1.28%
-11.86%
+70.85%
BHHSColoradoProperties.com
2014 Q1 | Cascade Village Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$3,015,000
1
$3,015,000
$932
48
2013
0
0
0
0
0
2014
0
0
0
0
0
% Change from 2013
-
-
-
-
-
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
0
0
0
0
0
2013
$2,985,000
2
$1,492,500
$978
125
2014
0
0
0
0
0
% Change from 2013
-
-
-
-
-
BHHSColoradoProperties.com
2014 Q1 | Central Vail (Sandstone, Potato Patch, The Valley) Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$3,425,000
1
$3,425,000
$602
368
2013
$1,450,000
1
$1,450,000
$363
37
2014
$10,750,000
5
$2,150,000
$588
174
% Change from 2013
+641.38%
+400.00%
+48.28%
+61.98%
+370.27%
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$4,373,750
9
$485,972
$353
230
2013
$3,257,397
6
$542,900
$375
141
2014
$4,699,000
8
$587,375
$427
215
% Change from 2013
+44.26%
+33.33%
+11.90%
+13.87%
+52.48%
BHHSColoradoProperties.com
2014 Q1 | Highland Meadows Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
0
0
0
0
0
2013
0
0
0
0
0
2014
0
0
0
0
0
% Change from 2013
-
-
-
-
-
BHHSColoradoProperties.com
2014 Q1 | West Vail North Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
0
0
0
0
0
2013
0
0
0
0
0
2014
0
0
0
0
0
% Change from 2014
-
-
-
-
-
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$763,000
2
$381,500
$295
37
2013
$268,000
1
$268,000
$380
14
2014
$345,000
1
$345,000
$359
32
% Change from 2014
+28.73%
0.00%
+28.73%
-5.53%
+128.57%
BHHSColoradoProperties.com
2014 Q1 | West Vail South Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$750,000
1
$750,000
$414
2
2013
0
0
0
0
0
2014
$1,434,000
3
$478,000
$334
160
% Change from 2013
-
-
-
-
-
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$1,620,000
4
$405,000
$293
371
2013
$640,000
2
$320,000
$310
111
2014
$816,500
2
$408,250
$317
450
% Change from 2013
+27.58%
0.00%
+27.58%
+2.26%
+305.41%
BHHSColoradoProperties.com
2014 Q1 | Minturn Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
0
0
0
0
0
2013
$971,000
3
$323,667
$245
51
2014
0
0
0
0
0
% Change from 2013
-
-
-
-
-
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$329,000
1
$329,000
$199
58
2013
0
0
0
0
0
2014
0
0
0
0
0
% Change from 2013
-
-
-
-
-
BHHSColoradoProperties.com
2014 Q1 | Eagle Vail Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$1,932,170
5
$386,434
$204
102
2013
$1,177,500
2
$588,750
$228
23
2014
$4,570,000
5
$914,000
$281
91
% Change from 2013
+303.40%
+150.00%
+55.24%
+23.25%
+295.65%
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$923,000
4
$230,750
$174
89
2013
$847,500
3
$282,500
$218
84
2014
$976,500
3
$325,500
$261
91
% Change from 2013
+15.22%
0.00%
+15.22%
+19.72%
+8.33%
BHHSColoradoProperties.com
2014 Q1 | Avon Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
0
0
0
0
0
2013
0
0
0
0
0
2014
0
0
0
0
0
% Change from 2013
-
-
-
-
-
Condominium and Townhome Average Sale Price
Average Sold Price per Foot
Average Days on Market
Year
Sales Volume
Number of Sales
2012
$5,724,500
17
$336,735
$260
191
2013
$6,681,250
17
$393,015
$366
287
2014
$5,650,303
13
$434,639
$470
268
% Change from 2013
-15.43%
-23.53%
+10.59%
+28.42%
-6.62%
BHHSColoradoProperties.com
2014 Q1 | Wildridge Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$4,287,500
5
$857,500
$207
191
2013
$2,185,000
3
$728,333
$220
55
2014
$4,807,900
6
$801,317
$209
118
% Change from 2013
+120.04%
+100.00%
+10.02%
-5.00%
+114.55%
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$617,000
2
$308,500
$216
60
2013
$1,582,000
4
$395,500
$194
84
2014
0
0
0
0
0
% Change from 2013
-
-
-
-
-
BHHSColoradoProperties.com
2014 Q1 | Beaver Creek Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$9,335,000
3
$3,111,667
$559
250
2013
0
0
0
0
0
2014
$11,230,000
3
$3,743,333
$583
596
% Change from 2013
-
-
-
-
-
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$30,219,500
14
$2,158,536
$730
272
2013
$13,300,000
11
$1,209,091
$664
315
2014
$28,785,000
22
$1,308,409
$728
352
% Change from 2013
+116.43%
+100.00%
+8.21%
+9.64%
+11.75%
BHHSColoradoProperties.com
2014 Q1 | Bachelor Gulch Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$21,500,000
2
$10,750,000
$1,072
48
2013
$5,095,000
1
$5,095,000
$854
173
2014
$7,295,000
1
$7,295,000
$1,065
7
% Change from 2013
+43.18%
0.00%
+43.18%
+24.71%
-95.95%
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$9,962,500
4
$2,490,625
$765
73
2013
$12,840,000
7
$1,834,286
$812
295
2014
$26,212,000
10
$2,621,200
$844
278
% Change from 2013
+104.14%
+42.86%
+42.90%
+3.94%
-5.76%
BHHSColoradoProperties.com
2014 Q1 | Arrowhead Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$11,939,000
5
$2,387,800
$412
309
2013
$9,918,500
6
$1,653,083
$388
231
2014
$13,445,000
7
$1,920,714
$475
521
% Change from 2013
+35.55%
+16.67%
+16.19%
+22.42%
+125.54%
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$2,160,000
2
$1,080,000
$618
223
2013
$6,132,000
4
$1,533,000
$577
130
2014
$6,915,000
8
$864,375
$476
173
% Change from 2013
+12.77%
+100.00%
-43.62%
-17.50%
+33.08%
BHHSColoradoProperties.com
2014 Q1 | Edwards Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$580,000
1
$580,000
$246
265
2013
$1,327,500
2
$663,750
$220
187
2014
$745,000
1
$745,000
$225
142
% Change from 2013
-43.88%
-50.00%
+12.24%
+2.27%
-24.06%
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$1,275,250
6
$212,542
$194
49
2013
$1,177,500
3
$392,500
$258
158
2014
$1,282,000
4
$320,500
$271
99
% Change from 2013
+8.87%
+33.33%
-18.34%
+5.04%
-37.34%
BHHSColoradoProperties.com
2014 Q1 | Singletree Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$1,787,003
3
$595,668
$202
245
2013
$8,031,350
9
$892,372
$298
135
2014
$2,905,000
3
$968,333
$257
227
% Change from 2013
-63.83%
-66.67%
-69.96%
-13.76%
+68.15%
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$300,000
1
$300,000
$211
51
2013
0
0
0
0
0
2014
$600,000
1
$600,000
$359
184
% Change from 2013
-
-
-
-
-
BHHSColoradoProperties.com
2014 Q1 | Homestead Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
0
0
0
0
0
2013
$1,400,000
2
$700,000
$183
125
2014
$508,500
1
$508,500
$199
155
% Change from 2013
-63.68%
-50.00%
-27.36%
+8.74%
+24.00%
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$1,103,000
4
$275,750
$208
49
2013
$682,000
2
$341,000
$192
31
2014
$1,499,500
4
$374,875
$233
52
% Change from 2013
+119.87%
+100.00%
+9.93%
+21.35%
+67.74%
BHHSColoradoProperties.com
2014 Q1 | Lake Creek Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$2,175,000
1
$2,175,000
$601
191
2013
0
0
0
0
0
2014
$807,500
1
$807,500
$940
271
% Change from 2013
-
-
-
-
-
BHHSColoradoProperties.com
2014 Q1 | Cordillera (Divide, Ranch, and Summit) All Residential Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$10,227,500
6
$1,704,583
$245
375
2013
$10,635,000
5
$2,127,000
$337
316
2014
$11,400,000
7
$1,628,571
$291
366
% Change from 2013
+7.19%
+40.00%
-23.43%
-13.65%
+15.82%
BHHSColoradoProperties.com
2014 Q1 | Cordillera Valley Club Club All Residential Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$2,107,000
2
$1,053,500
$292
548
2013
$6,805,000
5
$1,361,000
$307
224
2014
0
0
0
0
0
% Change from 2013
-
-
-
-
-
BHHSColoradoProperties.com
2014 Q1 | Wolcott (Bellyache and Red Sky Ranch)Sky Ranch) Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$3,320,000
3
$1,106,667
$209
253
2013
0
0
0
0
0
2014
$1,550,000
1
$1,550,000
$411
100
% Change from 2013
-
-
-
-
-
BHHSColoradoProperties.com
2014 Q1 | Eagle (all areas – not including Eagle Ranch) Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$3,630,925
11
$330,084
$141
131
2013
$5,623,900
15
$374,927
$149
85
2014
$3,821,500
9
$424,611
$176
93
% Change from 2013
-32.05%
-40.00%
+13.25%
+18.12%
+9.41%
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$1,397,525
9
$155,281
$111
118
2013
$1,216,900
7
$173,843
$140
33
2014
$1,532,063
6
$255,344
$167
67
% Change from 2013
+25.90%
-14.29%
+46.88%
+19.29%
+103.03%
BHHSColoradoProperties.com
2014 Q1 | Eagle Ranch Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$4,566,000
9
$507,333
$142
201
2013
$6,851,000
9
$761,222
$153
173
2014
$2,995,000
5
$599,000
$169
203
% Change from 2013
-56.28%
-44.44%
-21.31%
+10.46%
+17.34%
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$155,000
1
$155,000
$145
38
2013
$734,000
3
$244,667
$167
53
2014
$2,000,750
7
$285,821
$207
104
% Change from 2013
+172.58%
+133.33%
+16.82%
+23.95%
+96.23%
BHHSColoradoProperties.com
2014 Q1 | Gypsum Single Family and Duplex Year
Sales Volume
Number of Sales
Average Sale Price
Average Sold Price per Foot
Average Days on Market
2012
$5,575,321
19
$293,438
$123
123
2013
$4,380,500
18
$243,361
$121
31
2014
$4,375,280
16
$273,455
$157
43
% Change from 2013
-0.12%
-11.11%
+12.37%
+29.75%
+38.71%
Average Sale Price
Average Sold Price per Foot
Average Days on Market
Condominium and Townhome Year
Sales Volume
Number of Sales
2012
$383,800
4
$95,950
$86
85
2013
$481,420
4
$120,355
$100
15
2014
0
0
0
0
0
% Change from 2013
-
-
-
-
-
BHHSColoradoProperties.com
7 Offices | 90 Brokers | Vacation Rentals | Since 1971 BHHSColoradoProperties.com
Vail 970-476-2482
Beaver Creek Villa Montane 970-845-8700
Beaver Creek Lodge 970-845-8440
Eagle 970-328-2482
Edwards 970-926-8440
Gypsum 970-524-1150
Vacation Rentals and Property Management 970-476-3800