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 One of the most popular resort destinations in Colorado is the Vail Valley. Known for its world-class skiing and luxurious resort lifestyle, this mountain community features some of the most amazing homes on the market. Surrounded by the natural beauty of the Rocky Mountains, these neighborhoods offer residents the chance to live a life many only dream of. Now that more people are flocking to mountain communities in search for an escape from city-living, Vail Valley’s real estate market is booming. 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 September of 2020, compared to the same time period of 2019. Total sales volume January through September 2019 2020 % Change for Eagle County grew by a remarkable 29.6%. Sold Listings (All Properties) 983 1,009 2.6% While the number of sold listings only increased Sold Single Family 312 358 14.7% by 2.6%, several very high-priced sales pushed Sold Condos/TH/DP 671 651 -3.0% the average sold price and the total sales volume Average Days on Market 121 123 1.7% upward. Overall, the average sold price for homes Average Sold Price $1,268,554 $1,601,877 26.3% in Eagle County rose by 26.3%, bringing the % Sold Price to List Price 96.6% 96.8% 0.2% average price for homes in the area to $1,601,877.
EAGLE COUNTY
Total Sales Volume
$1,246,988,946
$1,616,294,426
29.6%
In Vail Village, average sold prices rose by 97.9%. All Properties This dramatic increase is largely due to $29,750,00 sale of a stunning single family home which was represented by LIV Sotheby’s International Realty. Homes in Lionshead also saw a significant rise in average sold prices, growing from $2,233,852 through Q3 of 2019 to $2,586,921 through Q3 in 2020, a 15.8% increase. Bachelor Gulch experienced a rise in the number of properties sold through September of this year compared to January through September of last year. When looking at all property types, this community saw a 144.4% increase in listings sold. East Vail also experienced a boost in the number of homes sold through September of this year. So far in 2020, there have been 62 home sales, a 31.9% increase from the same time frame last year when 47 homes sold. The Vail Valley has long been a leading market within Colorado and will continue to be one of the most popular regions to buy and sell homes. The surge of real estate activity is a positive sign that the market’s strength will carry over into the remainder of the year.
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 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
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
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%
The average days on market for all properties
$19,000,000
$29,750,000
56.6%
in the Vail Village decreased by 21.5%
31
42
35.5%
from January through September in 2020
94.2%
91.6%
-2.7%
compared to that of 2019.
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
% Change
21.5%
January through September
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
$5,172,127
$3,335,000
-35.5%
gated communities, Spraddle
$1,162
$1,078
-7.2%
Creek Estates, offers
162
114
-29.6%
unparalleled views of Vail
$17,250,000
$11,950,000
-30.7%
Mountain and is bordered
18
9
-50.0%
by the White River National
91.9%
96.3%
4.7%
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%
surrounding mountains.
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
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 spas 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
2019
% Change
Nestled in the White
$3,132,111
$5,465,000
74.5%
River National Forrest,
$629
$784
24.6%
Beaver Creek provides the
288
166
-42.4%
luxurious amenities of a
$6,950,000
$12,375,000
78.1%
modern resort while having
9
6
-33.3%
a relaxing environment of
92.2%
94.9%
3.0%
an alpine village.
Average Price Average Price per Square Foot Average Days on Market Highest Price
2020
Properties Sold % Sold Price to List Price Single Family Homes
31.0%
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
January through September
2019
between Beaver Creek and
Average Price
$7,565,000
$7,381,750
-2.4%
Arrowhead, Bachelor Gulch
Average Price per Square Foot
$955
$933
-2.3%
offers private mountainside
Average Days on Market
148
297
100.7%
living and access to a five-
Highest Price
$10,200,000
$12,995,000
27.4%
star luxury resort-hotel, The
Properties Sold
3
10
233.3%
Ritz-Carlton.
% Sold Price to List Price
98.7%
93.6%
-5.2%
2020
% Change
Single Family Homes
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%
126.7% The number of condos, townhomes, duplexes and triplexes sold in the village of Bachelor Gulch increased by 126.7% 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
77.6%
The highest price for condos, townhomes, duplexes and triplexes in the village of
Arrowhead increased by 77.6% 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 within 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
Edwards is an unincorporated
7,226 Feet
Home to the Club at Cordillera with
town, established in 1984
above sea level
three 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 Road, 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
% Change
9.5%
The average price per square foot for all
properties in Cordillera Valley Club increased by 9.5% 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
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
2019
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%
The average price for all properties in Eagle
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 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
