Q1 2021
Micro Market Report VA I L VA L L E Y
165 Forest Road, Vail
51 Chateau Lane, Beaver Creek
Vail Valley MARKET UPDATE
Vail Valley, located in Eagle County and nestled within the White River National Forest, is an easy 100-mile drive west on I-70 from Denver, and easily accessible from Eagle County Regional Airport. That, along with its reputation for worldclass skiing at Beaver Creek and Vail, featuring a European alpine ambiance, makes the Vail Valley a must-see stop on Colorado travel itineraries. In addition to the abundance of outdoor activities the Vail Valley offers, residents and visitors also enjoy luxury amenities here like fine dining, boutique shopping, golfing, and a toptier surgical center. With home buyers placing a greater emphasis on quality of life in 2021, resort communities like Vail and Beaver Creek continue to generate a surge in market activity. LIV Sotheby’s International Realty produces a Micro Market Report focused on the Eagle County market and its performance in the first quarter of 2021 compared to the first quarter of 2020. Total sales volume was up 80.4% this quarter, rising from $328,339,496 to $592,470,067 and proving that home buyers are not slowing down when it comes to purchasing a slice of mountain paradise. The area saw an overall 54.3% increase in the number of sold listings compared to the same months in 2020. While the average price of properties dropped in areas like East Vail and Vail Village this quarter, other neighborhoods performed extremely well. Vail Golf, for example, showed a 400% gain in properties sold, jumping from 1 to 5 compared to 2020. All sold property prices in Cascade, Edwards & Homestead, Edwards-Lake Creek Valley, and Bachelor Gulch increased as well. Likewise, single family homes in Beaver Creek, Arrowhead, and other Vail Areas saw large increases in the average price of their sold homes. More Vail Valley homes are not only being sold, they’re spending far fewer days on the market. With the exception of Minturn and Beaver Creek, every Vail Valley neighborhood
saw a decrease in the number of days it took to sell a property, with homes in Eagle-Vail & Avon, Wildridge/Wildwood, and Edwards/Singletree selling faster than ever, at 65%, 73.6%, and 95.2% faster, respectively. As consumers continue to relocate and purchase mountain homes in areas where lifestyle is their top priority, properties in the Vail Valley will continue to reap the real estate rewards. This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Arrowhead, Avon, Bachelor Gulch, Beaver Creek, Brush Creek, Cordillera, Cordillera Valley Club, Eagle, Eagle Ranch, Eagle-Vail, East Vail, Edwards – Lake Creek Valley, Edwards – Singletree, Edwards & Homestead, Gypsum, Lionshead, Minturn, Mountain Star, Vail Golf Course & Spraddle Creek, Vail Village, West Vail & Cascade, and Wildridge/Wildwood.
VAIL VALLEY January through March
2020
2021
% Change
219
338
54.3%
61
88
44.3%
Sold Condos/TH/DP
158
250
58.2%
Average Days on Market
151
111
-26.5%
$1,499,267
$1,752,870
16.9%
96.6%
97.1%
0.5%
$328,339,496
$592,470,067
80.4%
Sold Listings (All Properties) Sold Single Family
Average Sold Price % Sold Price to List Price Total Sales Volume
Eagle County – All Properties
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.
coloradomicroreports.com
VAIL VALLEY
NEIGHBORHOODS
1.
East Vail
7. Minturn
13. Wildridge/Wildwood
18. Cordillera Valley Club
2. Vail Golf Course &
8. Eagle-Vail
14. Arrowhead
19. Cordillera
3. Spraddle Creek
9. Avon
15. Edwards - Singletree
20. Eagle, Eagle Ranch,
4. Vail Village
10. Beaver Creek
16. Edwards & Homestead
5. Lionshead
11. Mountain Star
17. Edwards - Lake Creek
6. West Vail & Cascade
12. Bachelor Gulch
Brush Creek & Gypsum
Valley
19
17 18
14 15
16
12 13
10 5
8 11 9
4
3
2
1
7
6
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
JANUARY - MARCH 2021 • COLORADOMICROREPORTS.COM
TOWN OF VAIL
30.2%
January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
The average days on market in the Town of Vail decreased by 30.2% January through March 2021 compared to that of 2020.
2021
% Change
$2,412,824
$1,986,098
-17.7%
$1,058
$1,182
11.7%
222
155
-30.2%
$16,750,000
$7,250,000
-56.7%
59
87
47.5%
95.7%
96.3%
0.5%
All Properties - Includes East Vail to West Vail South
January through March Average Sold Price
EAST VAIL
2020
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,484,272
$1,159,166
-21.9%
$662
$759
14.7%
227
157
-30.8%
$3,950,000
$2,925,000
-25.9%
11
12
9.1%
96.9%
98.4%
1.6%
All Properties
VAIL GOLF
January through March
Located at 8,200 feet in elevation,
Average Sold Price
the Vail Golf & Nordic Clubhouse is
Average Price per Square Foot
surrounded by the majestic and rugged
Average Days on Market
Gore Mountain Range, offering a variety
Highest Price
of outdoor activities to experience in both summer and winter.
Properties Sold % Sold Price to List Price
2020
2021
% Change
$740,000
$11,225,000
1416.9%
$599
$878
46.6%
196
182
-7.1%
$740,000
$4,300,000
481.1%
1
5
400.0%
96.2%
96.6%
0.4%
All Properties
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$5,983,653
$2,436,027
-59.3%
$2,050
$1,729
-15.7%
429
217
-49.4%
$16,750,000
$6,400,000
-61.8%
13
22
69.2%
92.3%
94.1%
1.9%
All Properties
49.4%
VAIL VILLAGE
January through March
The average days on market in Vail Village decreased by 49.4% January through March 2021 compared to that of 2020.
January through March
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
% Change
$2,454,375
$2,453,852
-0.02%
$1,536
$1,617
5.3%
253
158
-37.5%
$4,250,000
$4,650,000
9.4%
8
17
112.5%
97.9%
96.1%
-1.9%
LIONSHEAD
Average Sold Price
2020
All Properties
January through March
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
% Change
$2,076,666
$3,187,333
53.5%
$1,081
$1,153
6.7%
179
166
-7.3%
small community of luxury homes and the
$2,200,000
$7,250,000
229.5%
Grand Hyatt Vail. Featuring a full-service
3
6
100.0%
92.8%
95.6%
3.0%
All Properties
Continuing down the Valley, Cascade Village is slightly removed from the bustling town center and boasts its own
spa and other luxury amenities, the Grand Hyatt Vail is situated right off of the Gore Creek, and has direct lift access up Vail Mountain to over 5,200 acres of skiable terrain.
CASCADE
Average Sold Price
2020
WEST VAIL
January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,035,106
$1,060,400
2.4%
$498
$566
13.7%
81
70
-13.6%
$2,365,000
$2,550,000
7.8%
11
10
-9.1%
96.8%
97.1%
0.3%
MINTURN
ALL OTHER VAIL AREAS
All Properties - Includes Areas: West Vail, North to West Vail South, Highland Meadows
27.0% The average price per square foot in all other Vail areas increased by 27.0% January through March 2021 compared to that of 2020.
January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
January through March
like Eagle county could mean living in the
Average Sold Price
shadows of its neighbors, but Minturn has
Average Price per Square Foot
town is one of the oldest in the area, being
Average Days on Market
incorporated in 1904. To this day, the town
Highest Price
reflects the unique and eclectic feel that
Properties Sold
comes from bringing together people from
% Sold Price to List Price
diverse locations.
2021
% Change
$970,461
$1,573,093
62.1%
$575
$730
27.0%
133
110
-17.3%
$2,365,000
$4,200,000
77.6%
13
16
23.1%
96.5%
97.2%
0.7%
All Properties - Includes Areas: Booth Creek, Potato Patch, Sandstone Lionsridge, Valley Ridge at Vail (Now Buffehr Creek), Highland Meadows & Spraddle Creek
Being a small town in a heavy resorted area
carved out its own distinct identity. The
2020
2020
2021
% Change
$736,500
$783,571
6.4%
$391
$430
10.0%
64
217
239.1%
$918,000
$940,000
2.4%
4
7
75.0%
96.0%
96.4%
0.3%
All Properties
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$2,095,100
$2,584,544
23.4%
$782
$918
17.4%
160
186
16.3%
$6,500,000
$10,950,000
68.5%
19
49
157.9%
94.8%
95.8%
1.1%
BEAVER CREEK
January through March
All Properties
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$3,833,333
$5,752,111
50.1%
$631
$906
43.6%
140
381
172.1%
$6,500,000
$10,950,000
68.5%
3
9
200.0%
92.7%
96.6%
4.2%
Single Family Homes
43.6% The average price per square foot in Beaver Creek increased by 43.6% January through
BEAVER CREEK
January through March
March 2021 compared to that of 2020.
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,769,181
$1,871,842
5.8%
$810
$920
13.6%
the best of resort living. Nestled in the
164
143
-12.8%
White River National Forrest, Beaver
$6,000,000
$6,800,000
13.3%
Creek provides the luxurious amenities of
16
40
150.0%
95.2%
95.7%
0.5%
Condominiums, Townhomes, Duplexes and Triplexes
Beaver Creek, Colorado is considered
a modern resort while having a relaxing environment of an alpine village.
BEAVER CREEK
January through March
BACHELOR GULCH
40.3% The average days on market in Bachelor
January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$2,303,727
$3,867,407
67.9%
$888
$1,023
15.2%
191
114
-40.3%
$5,000,000
$13,500,000
170.0%
11
19
72.7%
95.0%
94.5%
-0.4%
Gulch decreased by 40.3% January through
All Properties
BACHELOR GULCH
BACHELOR GULCH
March 2021 compared to that of 2020.
January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$5,000,000
$7,811,458
56.2%
$616
$1,117
81.3%
217
48
-77.9%
$5,000,000
$13,500,000
170.0%
1
6
500.0%
91.0%
96.1%
5.6%
Single Family Homes
Extending the Beaver Creek ambiance to a more intimate setting, Bachelor Gulch
January through March Average Sold Price
offers breathtaking views of the Vail Valley.
Average Price per Square Foot
Bachelor Gulch is the ideal location to lose
Average Days on Market
yourself in luxury. Combine this with the
Highest Price
numerous outdoor, year-round activities, and the Bachelor Gulch experience is truly limitless.
Properties Sold % Sold Price to List Price
2020
2021
% Change
$2,034,100
$2,047,076
0.6%
$915
$980
7.1%
189
145
-23.3%
$3,875,000
$4,000,000
3.2%
10
13
30.0%
95.3%
93.9%
-1.6%
Condominiums, Townhomes, Duplexes and Triplexes
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,917,711
$2,555,630
33.3%
$563
$668
18.7%
201
$137
-31.8%
$3,325,000
$10,605,750
219.0%
9
15
66.7%
94.5%
95.4%
0.9%
All Properties
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$2,787,500
$5,514,237
97.8%
$511
$687
34.4%
197
155
-21.3%
$3,150,000
$10,605,750
236.7%
2
4
100.0%
94.5%
94.0%
-0.5%
The average days on market in Arrowhead decreased by 31.8% January through March 2021 compared to that of 2020.
ARROWHEAD
January through March
31.8%
ARROWHEAD
January through March
Single Family Homes
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,669,200
$1,479,772
-11.3%
$578
$661
14.4%
202
131
-35.1%
the western gateway to Beaver Creek
$3,325,000
$3,265,000
-1.8%
Mountain, Arrowhead Village is said to
7
11
57.1%
94.6%
95.9%
1.4%
Condominiums, Townhomes, Duplexes and Triplexes
Just around the corner from Bachelor Gulch, you will find Arrowhead, the final village of Beaver Creek Resort. Considered
be one of the best kept secrets of the Colorado Rocky Mountains.
ARROWHEAD
January through March
includes the various resorts with their skiing and spas. For other, the Vail Valley
EAGLE-VAIL & AVON
January through March
2020
2021
% Change
is a place where they can find a home with
Average Sold Price
-
$5,250,000
-
peace and tranquility along with some of
Average Price per Square Foot
-
$591
-
Average Days on Market
-
736
-
Highest Price
-
$6,250,000
-
No Sales
2
-
-
93.6%
-
the most breathtaking view imaginable. That sums up what Mountain Star is all about. Although less than thirty minutes away from all the action of Eagle county,
Properties Sold
this gated development is everything one
% Sold Price to List Price
could imagine in a mountain home.
WILDRIDGE/WILDWOOD
MOUNTAIN STAR
For many, the draw of the Vail Valley
All Properties *No Sales for Q1 in 2020
January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,105,000
$948,750
-14.1%
$359
$355
-1.1%
178
47
-73.6%
$2,525,000
$1,375,000
-45.5%
5
6
20.0%
96.6%
97.3%
0.7%
All Properties
14.8% The average price per square foot in Eagle-Vail & Avon increased by 14.8% January through March 2021 compared to that of 2020.
January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$718,437
$837,372
16.6%
$575
$660
14.8%
103
36
-65.0%
$2,045,000
$2,525,000
23.5%
28
47
67.9%
97.5%
99.2%
1.7%
All Properties
January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
% Change
$733,832
$1,184,416
61.4%
shops, restaurants and a movie theater.
$371
$473
27.5%
Beautiful views of the surrounding Vail
78
34
-56.4%
Valley can be seen throughout Edwards,
$1,795,000
$5,200,000
189.7%
14
18
28.6%
access to a variety of outdoor activities
98.2%
98.5%
0.2%
year-round including skiing, hiking, biking
All Properties – Includes Edwards, Homestead & Riverwalk
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,112,187
$1,239,125
11.4%
$348
$537
54.3%
165
8
-95.2%
$1,660,000
$1,700,000
2.4%
8
4
-50.0%
97.2%
94.6%
-2.7%
Edwards, providing quick access to nearby
including the New York Mountain Range and the Eagle River, while allowing for easy
and fly-fising.
EDWARDS - SINGLETREE
January through March
Valley as it is situated on the south side of
2020
All Properties
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$2,000,000
$3,862,500
93.1%
$346
$366
5.8%
152
74
-51.3%
$2,000,000
$4,500,000
125.0%
1
2
100.0%
95.5%
82.1%
-14.0%
All Properties
5.8% The average price per square foot in Edwards / Lake Creek increased by 5.8% January through March 2021 compared to that of 2020.
EDWARDS - LAKE CREEK
January through March
EDWARDS - HOMESTEAD
Homestead is ideally located in the Vail
The average days on market in Cordillera
Properties Sold
& Valley Club decreased by 18.2% January
% Sold Price to List Price
Average Sold Price
Average Days on Market Highest Price
through March 2021 compared to that of
2020
2021
% Change
$2,123,833
$2,571,583
21.1%
$391
$465
18.9%
176
144
-18.2%
$3,800,000
$4,000,000
5.3%
12
12
0.0%
94.5%
96.7%
2.3%
All Properties - Includes Cordillera Valley Club, Cordillera Divide, Cordillera Ranch, Cordillera Summit, Colorow Squaw Creek.
2020.
January through March
CORDILLERA
CORDILLERA & VALLEY CLUB
18.2%
Average Price per Square Foot
January through March
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,871,100
$2,294,888
22.6%
$369
$420
13.8%
171
147
-14.0%
$3,800,000
$4,000,000
5.3%
10
9
-10.0%
94.0%
97.2%
3.4%
CORDILLERA VALLEY CLUB
All Properties - Includes Cordillera Divide, Cordillera Ranch, Cordillera Summit, Colorow Squaw Creek
20.5% The average price per square foot in Cordillera Valley Club increased by 20.5% January through March 2021 compared to that of 2020.
January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$3,387,500
$3,401,666
0.4%
$498
$600
20.5%
206
137
-33.5%
$3,475,000
$3,750,000
7.9%
2
3
50.0%
97.0%
95.2%
-1.8%
All Properties
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
The Town of Eagle is the county seat of Ea-
$610,462
$646,616
5.9%
gle County, Colorado, and one of Colorado's
$264
$294
11.4%
best-kept secrets. A hidden gem with pris-
87
43
-50.6%
$1,500,000
$2,350,000
56.7%
Located at 6,600 feet above sea level with
42
58
38.1%
a population of 6,748, the town is gain-
99.0%
98.8%
-0.2%
ing recognition for its small-town charm.
tine and abundant access to mountain biking, hiking, fishing, and year-round events.
All Properties - Includes Eagle Ranch, Brush Creek, Cotton Ranch & Chatfield
WHY COLORADO?
04 07 28 300 350+ NATIONAL PARKS
AVG DAYS OF SUNSHINE ANNUALY
MOUNTAIN RANGES
CRAFT BREWERIES
SKI AREAS & RESORTS
EAGLE & GYPSUM
January through March
MICROMARKET REPORT | Vail Valley JANUARY - MARCH 2021 • COLORADOMICROREPORTS.COM