MICROMARKET REPORT
VAIL VALLEY | MID -YEAR 2020
MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com
JANUARY - JUNE 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: 165 Forest Road, Vail
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
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VAIL VALLEY MARKET UPDATE With plenty to do from exploring the mountains, boutique shopping and dining at world-class restaurants, who wouldn’t want to live in the Vail Valley? Following the height of the pandemic, businesses have reopened their doors, with enhanced safety precautions still in place, to the locals and tourists who have been patiently awaiting a return to more normalized summer pastimes. People from all over venture to the Vail Valley’s mountain resort towns to enjoy cooler weather, sight-seeing, and even find the perfect house to call home. LIV Sotheby’s International Realty produces a Micro Market Report focusing on the real estate performance for Eagle County, which makes up the Vail Valley, from January through June of 2020, compared to the same time period of 2019. Total sales volume for January through June 2019 2020 % Change Eagle County fell by 23.4% due to the lack of real Sold Listings (All Properties) 592 418 -29.4% estate activity caused by COVID-19 however, there Sold Single Family 192 136 -29.2% were still positive increases in various metrics Sold Condos/TH/DP 400 282 -29.5% throughout the Vail Valley that show that the Average Days on Market 134 138 3.0% market is recovering. The overall average sold Average Sold Price $1,275,384 $1,383,340 8.5% price for homes in Eagle County rose by 8.5%, % Sold Price to List Price 96.4% 96.4% 0.0% bringing the average sold price for homes in the area to $1,383,340. Total Sales Volume $755,027,559 $578,236,373 -23.4%
EAGLE COUNTY
All Properties
There were 16 individual communities within the Vail Valley that experienced increases in average property prices. The most significant increase in average sold price reported in the area took place in Vail Village. Home prices for listings in Vail Village went from $3,167,300 between January and June of 2019 to $6,040,000 during the same time frame in 2020, a 90.7% increase. Even with less properties sold (five less homes), this much of an increase in average sold price is quite astounding. Bachelor Gulch had a rise in the number of properties sold through June of this year compared to January through June of last year. When looking at all property types, this community saw a 61.5% increase in listings sold. The town of Minturn also experienced a growth in the number of homes sold through June of this year. So far in 2020, there have been nine home sales, an 80% increase from January through June of last year when five homes sold. The Vail Valley’s unbeatable access to the outdoors as well as the community’s appreciation for the finer things in life make it a hub for tourism and real estate activity that will continue to thrive for years to come.
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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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 June
2019
2020
Average Price
$2,106,938
$2,353,596
11.7%
$972
$1,028
5.8%
180
206
14.4%
$17,250,000
$18,500,000
7.2%
129
101
-21.7%
94.7%
94.7%
0.0%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
Vail sits at an elevation
% Change
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
40.4%
EAST VAIL January through June 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 40.4%
Properties Sold
from January through June in 2020 compared to
% Sold Price to List Price
that of 2019.
2019
2020
% Change
$918,968
$1,290,356
40.4%
$604
$663
9.8%
70
150
114.3%
$2,685,000
$4,481,125
66.9%
28
20
-28.6%
96.2%
96.7%
0.5% All Properties
WEST VAIL & CASCADE January through June
2019
2020
Average Price
$1,521,590
$1,429,065
-6.1%
$626
$667
6.5%
106
87
-17.9%
$5,151,000
$5,378,000
4.4%
18
18
0.0%
95.7%
96.3%
0.7%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
All Properties - Includes West Vail North to West Vail South, Highland Meadows and Cascade
454 Beaver Cam Road, Vail
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VAIL VILLAGE January through June
2019
2020
Average Price
$3,167,300
$6,040,000
90.7%
$1,631
$1,992
22.1%
409
387
-5.4%
$10,500,000
$18,500,000
76.2%
25
20
-20.0%
94.0%
89.6%
-4.7%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
90.7%
The average price for all properties in the Vail Village increased by 90.7% from January through June in 2020 compared to that of 2019.
All Properties
LIONSHEAD January through June
2019
2020
Average Price
$2,310,016
$2,074,800
-10.2%
$1,412
$1,434
1.6%
155
211
36.1%
$8,500,000
$4,250,000
-50.0%
18
15
-16.7%
96.2%
96.1%
-0.1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
All Properties
The Sebastian #310A/b, Vail
VAIL GOLF & SPRADDLE CREEK January through June
2019
2020
Average Price
$5,368,750
$1,233,333
-77.0%
prestigious gated
$1,241
$652
-47.5%
communities, Spraddle
207
225
8.7%
Creek Estates offers
$17,250,000
$2,250,000
-87.0%
unparalleled views of Vail
12
3
-75.0%
Mountain and is bordered
90.7%
94.2%
3.9%
by National Forest.
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
One of Vail’s most
All Properties
coloradomicroreports.com
MINTURN January through June Average Price
2019
% Change
$807,850
$764,444
-5.4%
$361
$398
10.2%
202
149
-26.2%
$1,400,000
$1,139,000
-18.6%
5
9
80.0%
93.4%
96.0%
2.8%
Average Price per Square Foot Average Days on Market Highest Price
2020
Properties Sold % Sold Price to List Price
All Properties
1305 W Wildwood Road, Mountain Star
MOUNTAIN STAR
The Town of Avon is
2019
Average Price
$3,045,000
-
-
Rocky Mountains of
$538
-
-
Colorado along the scenic
609
-
-
Eagle River. The town
$3,045,000
-
-
serves as a gateway to the
1
No Sales
-
world-class Beaver Creek
87.1%
-
-
Resort and is eight miles
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
located in the stunning
January through June
% Change
west of world-famous Vail.
All Properties
WILDRIDGE/WILDWOOD January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
208 Shooting Star, Mountain Star
2019
2020
% Change
$733,825
$1,111,450
51.5%
$306
$355
16.0%
87
130
49.4%
$1,350,000
$2,525,000
87.0%
20
10
-50.0%
97.0%
96.3%
-0.6% All Properties
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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 June Average Price
2019
$1,932,764
9.5%
$752
$781
3.9%
173
155
-10.4%
$6,950,000
$6,500,000
-6.5%
53
28
-47.2%
93.9%
95.3%
1.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$1,764,744
Average Price per Square Foot
Highest Price
2020
35 Greystone Court, Beaver Creek
All Properties
BEAVER CREEK January through June Average Price Average Price per Square Foot Average Days on Market Highest Price
Beaver Creek delivers an 2019
2020
$3,127,687
$3,833,333
22.6%
$628
$631
0.5%
324
140
-56.8%
$6,950,000
$6,500,000
-6.5%
8
3
-62.5%
91.9%
92.7%
0.9%
Properties Sold % Sold Price to List Price
unmatched, unparalleled
% Change
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
13.2%
Mountains has to offer.
BEAVER CREEK January through June
2019
Average Price
$1,506,443
$1,704,696
13.2%
$774
$799
3.2%
146
157
7.5%
$6,316,666
$6,000,000
-5.0%
45
25
-44.4%
94.3%
95.6%
1.3%
Average Price per Square Foot
The average price for condominiums,
Average Days on Market
townhomes, duplexes and triplexes increased
Highest Price
by 13.2% from January through June in 2020
Properties Sold
compared to that of 2019.
% Sold Price to List Price
2020
% Change
Condominiums, Townhomes, Duplexes and Triplexes
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BACHELOR GULCH January through June
2019
2020
Average Price
$3,096,923
$2,510,238
-18.9%
$927
$908
-2.0%
200
174
-13.0%
$10,200,000
$9,500,000
-6.9%
13
21
61.5%
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
789 Holden Road, Beaver Creek
BACHELOR GULCH
Charmingly tucked away between Beaver Creek
January through June
2019
2020
% Change
and Arrowhead, Bachelor
Average Price
$7,565,000
$6,433,333
-15.0%
Gulch offers private
Average Price per Square Foot
$955
$797
-16.5%
mountainside living and
Average Days on Market
148
420
183.8%
access to a five-star luxury
Highest Price
$10,200,000
$9,500,000
-6.9%
resort-hotel, The Ritz-
Properties Sold
3
3
0.0%
Carlton, Bachelor Gulch.
% Sold Price to List Price
98.7%
91.3%
-7.5%
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 June
2019
2020
Average Price
$1,756,500
$1,856,388
5.7%
$918
$927
1.0%
215
133
-38.1%
$3,250,000
$3,875,000
19.2%
10
18
80.0%
94.1%
95.2%
1.2%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
5.7%
The average price for condos, townhomes,
duplexes and triplexes in the village of Bachelor Gulch increased by 5.7% in January through June in 2020 compared to that of 2019.
Condominiums, Townhomes, Duplexes and Triplexes
coloradomicroreports.com
ARROWHEAD January through June
2019
Average Price
$2,123,884
$1,640,184
-22.8%
$610
$601
-1.5%
153
$174
13.7%
$9,300,000
$3,325,000
-64.2%
26
13
-50.0%
94.4%
94.9%
0.5%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
% Change
All Properties
2156 Cresta Road, Arrowhead
ARROWHEAD January through June
2019
2020
Average Price
$3,838,888
$2,787,500
-27.4%
$655
$511
-22.0%
160
197
23.1%
$9,300,000
$3,150,000
-66.1%
9
2
-77.8%
94.8%
94.5%
-0.3%
Average Price per Square Foot 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
17.7%
The average price for condos, townhomes, duplexes and triplexes in the village of
Arrowhead increased by 17.7% from January through June in 2020 compared to that of 2019.
ARROWHEAD January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,215,941
$1,431,581
17.7%
$586
$617
5.3%
149
170
14.1%
$1,850,000
$3,325,000
79.7%
17
11
-35.3%
94.2%
94.9%
0.8%
Condominiums, Townhomes, Duplexes and Triplexes
MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com
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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 June Average Price
2019
$690,494
-4.8%
$365
$359
-1.6%
124
77
-37.9%
$3,700,000
$1,795,000
-51.5%
36
21
-41.7%
98.3%
97.8%
-0.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$725,252
Average Price per Square Foot
Highest Price
2020
All Properties
901 Red Canyon Creek Road, Edwards
EDWARDS - LAKE CREEK
Positioned almost at the
January through June
2019
Average Price
$3,012,500
$1,710,000
-43.2%
$464
$509
9.7%
85
100
17.6%
$4,500,000
$2,250,000
-50.0%
2
4
100.0%
95.2%
93.6%
-1.7%
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 June
2019
Average Price
$1,030,500
$1,149,233
11.5%
$363
$338
-6.9%
120
127
5.8%
$2,050,000
$1,925,000
-6.1%
18
15
-16.7%
95.9%
94.7%
-1.2%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
33 Wilmor Drive, Edwards
2020
% Change
All Properties
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CORDILLERA/VALLEY CLUB January through June Average Price
2019
$2,137,500
8.2%
$396
$395
-0.3%
210
252
20.0%
$4,000,000
$3,800,000
-5.0%
31
20
-35.5%
93.9%
94.3%
0.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$1,975,457
Average Price per Square Foot
Highest Price
2020
8.2%
The average price for all properties in
Cordillera/Valley Club increased by 8.2% from January through June in 2020 compared to that of 2019.
All Properties
CORDILLERA The Club at Cordillera offers its members an
January through June
2019
Average Price
$1,643,226
$1,915,687
16.6%
$346
$358
3.5%
220
269
22.3%
$2,750,000
$3,800,000
38.2%
21
16
-23.8%
93.6%
93.9%
0.3%
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
CORDILLERA VALLEY CLUB January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price All Properties
2019
2020
% Change
$2,673,142
$3,025,000
13.2%
$501
$542
8.2%
187
187
0.0%
$4,000,000
$3,475,000
-13.1%
10
4
-60.0%
94.4%
95.7%
1.4%
144 Castle Peak Gate, Edwards
coloradomicroreports.com
EAGLE-VAIL, AVON & WILDRIDGE
The town of Eagle has over 100 miles of pristine
January through June
singletrack for mountain
Average Price
biking, hiking, trail
Average Price per Square Foot
running and horseback
Average Days on Market
riding in summer and
Highest Price
snowshoeing, Nordic skiing
Properties Sold
and backcountry skiing in
% Sold Price to List Price
2019
2020
% Change
$655,168
$844,212
28.9%
$437
$516
18.1%
99
89
-10.1%
$2,095,000
$2,525,000
20.5%
96
59
-38.5%
96.9%
97.3%
0.4%
winter.
All Properties
EAGLE & GYPSUM January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
20.0%
% Change
$511,457
$613,609
20.0%
$253
$273
7.9%
94
84
-10.6%
$1,145,000
$2,500,000
118.3%
The average price for all properties in Eagle
135
87
-35.6%
and Gypsum increased by 20.0% from
99.0%
99.2%
0.3%
January through June in 2020 compared to that of 2019.
All Properties - Includes Eagle Ranch, Brush Creek, Cotton Ranch/Chatfield
ALL OTHER VAIL AREAS January through June
2019
2020
Average Price
$1,209,324
$1,222,440
1.1%
$569
$609
7.0%
139
185
33.1%
$4,500,000
$3,850,000
-14.4%
33
25
-24.2%
94.4%
95.1%
0.8%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
9273 Brush Creek Road, Eagle
% Change
All Properties - Includes Booth Creek, Potato Patch, Sandstone, Lionsridge, Valley Ridge at Vail (Now Buffehr Creek), Highland Meadows
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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
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