Vail Valley Mid Year 2020 Micro Market Report

MICROMARKET REPORT

VAIL VALLEY | MID -YEAR 2020

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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.

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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

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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)

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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

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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

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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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