Vail Valley Year End, 2018 Micro Market Report

MICROMARKET REPORT |

Vail Valley • 2019

VAIL VALLEY NEIGHBORHOODS 1.

East Vail

2.

Vail Golf Course & Spraddle Creek

3.

Vail Village

4. Lionshead 5.

West Vail & Cascade

6. Minturn 7. Eagle-Vail

19

8. Avon 17 18

14 15

16

12 13

10 5

8 11 9

7

6

4

3

2

1

9.

Beaver Creek

10.

Mountain Star

11.

Bachelor Gulch

12. Wildridge/Wildwood 13. Arrowhead 14.

Edwards - Singletree

15.

Edwards & Homestead

16.

Edwards - Lake Creek Valley

17.

Cordillera Valley Club

18. Cordillera 19.

Eagle, Eagle Ranch, Brush Creek & Gypsum

Pictured on cover: 56 Rose Crown, Mountain Star

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VAIL VALLEY market update The benefits of living in the Vail Valley are endless, including year-round activities, a tight-knit community feel, high-end shopping and dining, and spectacular mountain views. Attracting buyers from around the world, the Vail Valley real estate market continues to prove as healthy and active.

2018 resulted in a year of high demand for Vail Valley real estate with an 11.1% increase in average price, combined with a 6.5% decrease in average days on market. In addition, sold listings also decreased by 2%, but total dollar volume sold increased by 8.8%. This increase in average price

EAGLE COUNTY

and total dollar volume sold, combined with a decrease in average days on market and sold listings means sellers benefited in 2018 as buyers were

January through December

acting quick and paying more. Buyers also benefited as the sold price to

Sold Listings (All Properties)

list price percentage remained flat (meaning buyers were paying what they were expecting to pay).

2018

% Change

1,376

1,348

-2.0%

Sold Single Family

493

501

1.6%

Sold Condos/TH/DP

883

847

-4.1%

Average Days on Market

124

116

-6.5%

$1,129,622

$1,254,810

11.1%

94.3%

94.3%

0.0%

$1,554,359,594

$1,691,483,649

8.8%

A notable highlight for the Vail Valley is an outstanding 171.3% increase in

Average Price

average price for the Vail Golf Course/Spraddle Creek neighborhood, from

% Sold Price to List Price

an average price of $2,217,462 in 2017 to $6,016,275 in 2018. Beaver Creek

Total Dollar Volume Sold

also reported an impressive increase of 100% in single family homes sold,

2017

All Properties

from 10 in 2017 to 20 in 2018.

Due to the increased demand for real estate in the Vail Valley, four neighborhoods saw a dramatic decrease in average days on market of 30% or more: Bachelor Gulch (single family homes), Cordillera, Lionshead, and Wildridge/Wildwood. Bachelor Gulch revealed the highest decrease of 51.8% average days on market for single family homes, to just 134 days in 2018 – a very quick timeframe for single-family homes in the luxury market of the Vail Valley.

Other highlights for the Vail Valley include impressive increases in average price: 19.8% increase for the Town of Vail, 20.7% increase for Vail Village, 24.8% increase for East Vail, and a 28% increase for Arrowhead.

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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 2019 • COLORADOMICROREPORTS.COM

ARROWHEAD January through December Average Price

2017

$1,980,352

28.0%

$559

$598

7.0%

165

169

2.4%

$3,910,000

$9,525,000

143.6%

51

48

-5.9%

95.4%

94.7%

-0.7%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$1,546,699

Average Price per Square Foot

Highest Price

2018

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

All Properties

ARROWHEAD January through December

2017

2018

Average Price

$2,707,615

$3,421,563

26.4%

$535

$605

13.1%

301

227

-24.6%

$3,910,000

$9,525,000

143.6%

12

16

33.3%

94.8%

94.4%

-0.4%

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

% Change

Single Family Homes 12 Cabin Creek Lane, Arrowhead

ARROWHEAD January through December

2017

2018

Average Price

$1,189,494

$1,259,747

5.9%

$567

$595

4.9%

123

141

14.6%

$2,675,000

$2,500,000

-6.5%

39

32

-17.9%

95.7%

95.1%

-0.7%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes

% Change

5.9%

The average price for condos, townhomes and duplexes in Arrowhead increased by 5.9% January through December, 2018 compared to that of 2017.

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BACHELOR GULCH January through December Average Price

2017

$2,278,075

-47.0%

$950

$877

-7.7%

262

207

-21.0%

$13,400,000

$7,500,000

-44.0%

34

20

-41.2%

95.4%

93.1%

-2.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$4,295,412

Average Price per Square Foot

Highest Price

2018

All Properties 2291 Daybreak Ridge, Bachelor Gulch

BACHELOR GULCH Charmingly tucked away between Beaver Creek and Arrowhead, Bachelor Gulch offers private mountainside living and access to a five-star luxury resort-hotel, The Ritz-Carlton, Bachelor Gulch.

January through December

2017

Average Price

$8,816,273

$4,000,000

-54.6%

$1,018

$870

-14.5%

278

134

-51.8%

$13,400,000

$7,500,000

-44.0%

11

3

-72.7%

96.3%

89.9%

-6.6%

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

2018

% Change

Single Family Homes

BACHELOR GULCH January through December

2017

2018

Average Price

$2,133,261

$1,974,206

-7.5%

$918

$879

-4.2%

254

220

-13.4%

$5,480,000

$5,250,000

-4.2%

23

17

-26.1%

93.7%

94.3%

0.7%

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

% Change

Condos, Townhomes, Duplexes 130 Daybreak Ridge Road #645, Bachelor Gulch

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BEAVER CREEK January through December

2017

2018

Average Price

$2,141,378

$2,252,612

5.2%

$803

$753

-6.2%

224

202

-9.8%

$10,700,000

$13,500,000

26.2%

87

115

32.2%

94.1%

93.6%

-0.5%

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

% Change

Beaver Creek ski area is located on National Forest System lands. Prior to construction, all lifts, trails, and facilities needed to be approved by the Forest Service.

All Properties

BEAVER CREEK January through December Average Price

2017

$5,185,700

8.9%

$717

$680

-5.2%

303

323

6.6%

$10,700,000

$13,500,000

26.2%

10

20

100.0%

91.7%

91.9%

0.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$4,760,500

Average Price per Square Foot

Highest Price

2018

100%

The number of single family homes sold in of Beaver Creek increased by 100% January through December, 2018 compared to that of 2017.

Single Family Homes

BEAVER CREEK January through December

2017

2018

Average Price

$1,801,232

$1,635,120

-9.2%

$814

$769

-5.5%

214

176

-17.8%

$6,200,000

$8,200,000

32.3%

77

95

23.4%

95.0%

94.8%

-0.2%

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

% Change

Condos, Townhomes, Duplexes 136 North Holden Road, Beaver Creek

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28.9%

The average days on market in Cordillera and Cordillera Valley Club decreased by 28.9% January through December, 2018 compared to that of 2017.

CORDILLERA/VALLEY CLUB January through December

2017

2018

Average Price

$1,727,906

$1,778,919

3.0%

$335

$355

6.0%

305

217

-28.9%

$3,950,000

$3,675,000

-7.0%

48

43

-10.4%

92.2%

93.7%

1.7%

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

% Change

All Properties

CORDILLERA January through December

2017

2018

Average Price

$1,694,927

$1,708,153

0.8%

$321

$344

7.2%

337

194

-42.4%

$3,950,000

$3,675,000

-7.0%

41

36

-12.2%

91.7%

94.0%

2.5%

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

% Change

All Properties 45 Graham Road, Cordillera

CORDILLERA VALLEY CLUB The Club at Cordillera offers its members an unparalleled lifestyle experience, with access to world-class golfing, exquisite dining, and lively events.

January through December

2017

2018

Average Price

$1,921,071

$2,142,857

11.5%

$420

$412

-1.9%

114

338

196.5%

$2,500,000

$3,000,000

20.0%

7

7

0.0%

94.6%

92.4%

-2.3%

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

% Change

All Properties

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EDWARDS & HOMESTEAD January through December Average Price

2017

$651,150

-2.2%

$365

$356

-2.5%

70

63

-10.0%

$2,598,500

$1,900,000

-26.9%

123

86

-30.1%

97.6%

96.3%

-1.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$665,895

Average Price per Square Foot

Highest Price

2018

All Properties 705 Whiskey Ridge, Edwards

EDWARDS - LAKE CREEK VALLEY January through December Average Price

2017

$1,597,500

-28.7%

$466

$366

-21.5%

305

451

47.9%

$4,900,000

$1,995,000

-59.3%

12

2

-83.3%

91.9%

95.8%

4.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$2,241,250

Average Price per Square Foot

Highest Price

2018

Positioned almost at the center of the Eagle River 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 sunny climate.

All Properties

EDWARDS - SINGLETREE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2017

2018

% Change

$957,449

$1,056,407

10.3%

$355

$375

5.6%

133

97

-27.1%

$2,175,000

$2,675,000

23.0%

51

56

9.8%

95.9%

94.4%

-1.6%

All Properties 477 Pilgrim Drive, Edwards

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19.8%

January through December, 2018, the average price for the Town of Vail increased by 19.8% compared to that of 2017.

TOWN OF VAIL January through December Average Price

2017

$2,331,617

19.8%

$888

$962

8.3%

163

158

-3.1%

$23,000,000

$23,000,000

0.0%

261

291

11.5%

92.4%

93.1%

0.7%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$1,946,805

Average Price per Square Foot

Highest Price

2018

All Properties

EAST VAIL January through December Average Price

2017

$1,038,128

24.8%

$532

$582

9.4%

73

69

-5.5%

$3,750,000

$4,420,000

17.9%

68

80

17.6%

95.2%

94.2%

-1.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$831,655

Average Price per Square Foot

Highest Price

2018

All Properties 223 Beaver Dam Road, Vail

WEST VAIL & CASCADE 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.

January through December

2017

2018

Average Price

$1,687,605

$1,409,827

-16.5%

$656

$546

-16.8%

129

114

-11.6%

$5,912,000

$3,950,000

-33.2%

46

51

10.9%

93.8%

95.2%

1.6%

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

% Change

All Properties

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VAIL VILLAGE January through December

2017

Average Price

$4,161,150

$5,022,387

20.7%

$1,761

$1,851

5.1%

253

284

12.3%

$23,000,000

$23,000,000

0.0%

40

51

27.5%

92.1%

93.2%

1.2%

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

2018

% Change

27.5%

The number of properties sold in Vail Village increased by 27.5% January through December, 2018 compared to that of 2017.

All Properties

LIONSHEAD January through December Average Price Average Price per Square Foot

2017

$2,961,167

10.8%

$1,380

$1,426

3.3%

405

227

-44.0%

$12,425,000

$10,500,000

-15.5%

38

51

34.2%

91.8%

93.8%

2.2%

Properties Sold % Sold Price to List Price

% Change

$2,673,605

Average Days on Market Highest Price

2018

All Properties 728 West Lionshead Circle #R402, Vail

VAIL GOLF COURSE/SPRADDLE CREEK January through December

2017

2018

Average Price

$2,217,462

$6,016,275

171.3%

$851

$1,109

30.3%

181

255

40.9%

$5,800,000

$18,500,000

219.0%

13

10

-23.1%

94.1%

87.8%

-6.7%

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

% Change

One of Vail’s most prestigious gated communities, Spraddle Creek Estates offers unparalleled views of Vail Mountain and is bordered by National Forest.

All Properties

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ALL OTHER VAIL AREAS January through December Average Price

2017

$1,236,091

-15.1%

$568

$567

-0.2%

77

117

51.9%

$6,600,000

$5,332,500

-19.2%

59

53

-10.2%

90.6%

93.0%

2.6%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$1,456,502

Average Price per Square Foot

Highest Price

2018

Booth Creek, Highland Meadows, Potato Ranch, Sandstone Ridge, Valley Ridge at Vail 1109 Vail Valley Drive, Vail

EAGLE-VAIL, AVON, & WILDRIDGE

6.2%

January through December Average Price

2017

$657,675

1.7%

$402

$427

6.2%

91

79

-13.2%

$4,306,000

$2,195,000

-49.0%

248

230

-7.3%

96.4%

96.7%

0.2%

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

% Change

$646,593

Average Price per Square Foot

January through December, 2018, the average price per square foot in Eagle-Vail, Avon, and Wildridge increased by 6.2% compared to that of 2017.

2018

All Properties

EAGLE & SURROUNDING AREAS January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2017

2018

% Change

$479,886

$545,008

13.6%

$223

$244

9.4%

67

75

11.9%

$1,400,000

$2,400,000

71.4%

328

323

-1.5%

98.4%

98.3%

-0.1%

Eagle, Eagle Ranch, Brush Creek, Gypsum, & Cotton Ranch/Chatfield 705 Nogal Road, #C10 Eagle

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MINTURN January through December Average Price

2017

$766,231

7.3%

$329

$371

12.8%

122

101

-17.2%

$1,575,000

$1,400,000

-11.1%

14

18

28.6%

92.4%

96.5%

4.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$714,258

Average Price per Square Foot

Highest Price

2018

All Properties 1014 Two Elk Lane, Minturn

MOUNTAIN STAR January through December Average Price

2017

$5,425,000

47.0%

$742

$620

-16.4%

100

738

638.0%

$4,385,000

$5,425,000

23.7%

2

1

-50.0%

95.4%

91.2%

-4.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$3,690,000

Average Price per Square Foot

Highest Price

2018

Mountain Star boarders the White River National Forest which includes many hiking and biking trails.

All Properties

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

2017

2018

% Change

$1,006,972

$919,559

-8.7%

$323

$326

0.9%

142

96

-32.4%

$4,306,000

$1,820,000

-57.7%

43

47

9.3%

95.2%

96.6%

1.5%

32.4%

The average days on market in Wildridge/ Wildwood decreased by 32.4% January through December, 2018 compared to that of 2017.

All Properties

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The life you love.

resorts.livsothebysrealty.com | coloradomicroreports.com Based on Information from Vail Board of Realtors速. This representation is based in whole or in part on data supplied by Vail Board of Realtors速.

Vail Board of Realtors速 does not guarantee nor is in any way responsible for its accuracy. Data maintained by Vail Board of Realtors速 may not reflect all real estate activity in the market.