Q1 2022
Micro Market Report V A I L V A L L E Y, C O L O R A D O
Vail Gateway Plaza Residence #R8
312 Bearden Road
Vail Valley MARKET UPDATE
The Vail Valley has long been known as Colorado's premier vacation destination, and with good reason. The area's namesake, Vail Mountain, was founded in 1962 by former members of the Army's 10th Mountain Division, and from here, history and heritage ensued as the region expanded and established two of the nation's largest and most famous ski resorts- Vail and Beaver Creek. While a beautiful year-round destination, the Vail Valley is most known for its spectacular winter season. Sparkling snow blankets the White River National Forest, towns from East Vail to Eagle bustle with eager adventurers, and world-renowned events like the Birds of Prey World Cup all take place during the winter months here. Spanning just 35 miles, the Vail Valley is known as one of the most famous alpine destinations in the world, complete with luxurious accommodations, fine dining, and superb shopping. Add in its year-round appeal, excellent health care system, highly ranked schools, and diverse cultural amenities, and it is no wonder why buyers gravitate to Eagle County. In recent years, the appeal of mountain living in the Vail Valley has produced record-breaking real estate numbers, driving home values up and the time listings spend on the market down. Every quarter, LIV Sotheby's International Realty produces a Micro Market Report focused on Eagle County's market performance, which includes the Vail Valley. For quarter one, this report is a year-over-year comparison of the first quarter of 2021, compared to the first quarter of 2022, analyzing January through March. Real estate brokers in the Vail Valley continued to face a fast-paced market filled with eager buyers and sellers throughout the first quarter of 2022. In Eagle County, the total sales volume year-over-year remained relatively steady, decreasing slightly from $592,470,067 in 2021 to $557,080,674 in 2022. While sales volume was down minimally, the average sold price continued to rise, increasing 28.7% bringing the average sold price in the first quarter of 2022 up to $2,255,387. The slight decrease in overall sales volume can be attributed to the ongoing trend of a scarce inventory market in which the Vail Valley saw a 26.9% decrease in listings sold year-overyear for quarter one. From January to March of last year, 338 listings were sold, and this year only 247 listings were sold. This indicates that as the market's inventory lessens, the value of
owning property in the Vail Valley will continue to rise proportionately with the area's popularity. Neighborhoods that saw the most significant increases in the average price of homes sold compared to the first quarter of last year include Minturn with an incredible 102.8% increase, Edwards Singletree at an 83.7% increase, Bachelor Gulch with a 64% increase, and lastly, Cordillera at a 62.2% increase. As for the rest of the Vail Valley, most neighborhoods saw significant increases in the average sold price, with only a few areas seeing a slight decline. In Lionshead Village in the Town of Vail, the first quarter brought an astonishing highest priced sale of $30,875,000, a 325.9% increase over the highest priced sale during the same time last year. Navigating through the peaks and valleys of the real estate market can be a challenge, which is why real estate brokers are there to guide the way. In the Vail Valley, one of the biggest hurdles is the length of time that listings stay on the market. During the first quarter of 2022, Eagle County saw a 63.1% overall drop in days on the market from 111 to 41. In Bachelor Gulch, Beaver Creek, Eagle-Vail and Avon, communities saw a 79.8%, 73.1%, 58.3%, drop, respectively. In Bachelor Gulch, this 79.8% decrease reflects a jaw-dropping difference of 114 days in 2021 to just 23 days in 2022. Combine Eagle County's overall decrease in days on the market with the 26.9% decrease in the number of listings sold this year, and that means now more than ever, the expertise and guidance of local real estate professionals are needed to navigate this highly coveted market.
VAIL VALLEY January through March Sold Listings (All Properties) Sold Single Family Sold Condos/TH/DP Average Days on Market Average Sold Price % Sold Price to List Price Total Sales Volume
2021
2022
% Change
338
247
-26.9%
88
77
-12.5%
250
170
-32.0%
111
41
-63.1%
$1,752,870
$2,255,387
28.7%
97.1%
100.5%
3.5%
$592,470,067
$557,080,674
-6.0%
Eagle County – All Properties *Not Including Basalt
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 noris 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
6.
Minturn
12. Wildridge/Wildwood
18. Cordillera
2.
Vail Golf Course &
7.
Eagle-Vail
13. Arrowhead
19. Eagle, Eagle Ranch,
Spraddle Creek
8.
Avon
14. Edwards - Singletree
3.
Vail Village
9.
Beaver Creek
15. Edwards & Homestead
4.
Lionshead
10. Mountain Star
16. Edwards - Lake Creek Valley
5.
West Vail & Cascade
11. Bachelor Gulch
17. Cordillera Valley Club
Brush Creek & Gypsum
19
17 18
14 15
16
12 13
10 5
8 11 9
4
3
2
1
6
7
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM
TOWN OF VAIL
65.8% The average days on market in the Town of Vail decreased by 65.8% January through March 2022 compared to that of 2021.
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
2022
% Change
$1,986,098
$3,211,464
61.7%
$1,182
$1,369
15.8%
155
53
-65.8%
$7,250,000
$30,875,000
325.9%
87
56
-35.6%
96.3%
100.2%
4.1%
All Properties - Includes East Vail to West Vail South
January through March
EAST VAIL
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
2022
% Change
$1,159,166
$2,084,316
79.8%
$759
$1,030
35.7%
157
39
-75.2%
$2,925,000
$8,300,000
183.8%
12
13
8.3%
98.4%
102.6%
4.2%
All Properties
VAIL GOLF
January through March
Located at 8,200 feet in elevation,
Average Sold Price
the Vail Golf & Nordic Clubhouse
Average Price per Square Foot
is surrounded by the majestic and
Average Days on Market
rugged Gore Mountain Range, offering
Highest Price
a variety of outdoor activities, including 17 kilometers of Nordic trails and 10 kilometers of scenic snowshoe trails.
Properties Sold % Sold Price to List Price
2021
2022
% Change
$2,245,000
$3,278,333
46.0%
$878
$1,379
57.1%
182
13
-92.9%
$4,300,000
$5,850,000
36.0%
5
3
-40.0%
96.6%
99.7%
3.2%
All Properties
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
2022
% Change
$2,436,027
$5,299,208
117.5%
$1,729
$2,383
37.8%
217
82
-62.2%
$6,400,000
$19,000,000
196.9%
22
12
-45.5%
94.1%
98.2%
4.4%
All Properties
January through March
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2022
% Change
$2,453,852
$5,904,642
140.63%
$1,617
$1,634
1.1%
158
117
-25.9%
$4,650,000
$30,875,000
564.0%
17
7
-58.8%
96.1%
96.3%
0.2%
The average price per square foot in Vail Village increased by 37.8% January through March 2022 compared to that of 2021.
LIONSHEAD
Average Sold Price
2021
37.8%
VAIL VILLAGE
January through March
All Properties
January through March
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2022
% Change
$3,187,333
$3,050,000
-4.3%
bustling town center and boasts its own
$1,153
$1,614
40.0%
small community of luxury homes and
166
8
-95.2%
$7,250,000
$4,900,000
-32.4%
6
2
-66.7%
95.6%
99.3%
3.9%
All Properties
Village is slightly removed from the
the Grand Hyatt Vail. Featuring a fullservice 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
Continuing down the Valley, Cascade
2021
The average days on market in West Vail increased by 1.4% January through March 2022 compared to that of 2021.
ALL OTHER VAIL AREAS
WEST VAIL
1.4%
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
2022
% Change
$1,060,400
$2,661,780
151.0%
$566
$797
40.8%
70
71
1.4%
$2,550,000
$5,000,000
96.1%
10
5
-50.0%
97.1%
96.6%
-0.5%
All Properties - Includes Areas: West Vail, North to West Vail South, Highland Meadows
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
2022
% Change
$1,573,093
$1,458,600
-7.3%
$730
$833
14.1%
110
32
-70.9%
$4,200,000
$3,300,000
-21.4%
16
15
-6.3%
97.2%
102.7%
5.7%
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 an area like Eagle
MINTURN
January through March
January through March
County could mean living in the shadows
Average Sold Price
of its neighbors, but Minturn has carved
Average Price per Square Foot
out its own distinct identity. Incorporated in 1904, the town is one of the oldest in the area. To this day, Minturn reflects the unique
Average Days on Market Highest Price
and eclectic feel that comes from bringing
Properties Sold
together people from diverse locations.
% Sold Price to List Price
2021
2022
% Change
$783,571
$1,589,000
102.8%
$430
$592
37.7%
217
1
-99.5%
$940,000
$1,589,000
69.0%
7
1
-85.7%
96.4%
100.0%
3.8%
All Properties
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
2022
% Change
$2,584,544
$2,679,000
3.7%
$918
$1,157
26.0%
186
50
-73.1%
$10,950,000
$10,200,000
-6.8%
49
23
-53.1%
95.8%
99.0%
3.3%
All Properties
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
2022
% Change
$5,752,111
$6,481,833
12.7%
$906
$1,061
17.1%
381
125
-67.2%
$10,950,000
$10,200,000
-6.8%
9
3
-66.7%
96.6%
94.9%
-1.7%
The average price per square foot in Beaver Creek increased by 26.0% January through March 2022 compared to that of 2021.
BEAVER CREEK
January through March
26.0%
Single Family Homes
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
2022
% Change
$1,871,842
$2,108,575
12.6%
$920
$1,171
27.3%
143
38
-73.4%
White River National Forrest, Beaver
$6,800,000
$4,200,000
-38.2%
Creek provides the luxurious amenities of
40
20
-50.0%
95.7%
99.6%
4.1%
Condominiums, Townhomes, Duplexes and Triplexes
Beaver Creek, Colorado is considered the best of resort living. Nestled in the
a modern resort while having a relaxing environment of an alpine village.
BEAVER CREEK
January through March
BEAVER CREEK
January through March
BACHELOR GULCH BACHELOR GULCH BACHELOR GULCH
64.0% The average sold price in Bachelor Gulch increased by 64.0% January through March 2022 compared to that of 2021.
Extending the Beaver Creek ambiance to a more intimate setting, Bachelor Gulch
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 Average Sold Price 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
and the Bachelor Gulch experience is truly limitless.
2022
% Change
$3,867,407
$6,342,076
64.0%
$1,023
$1,340
31.0%
114
23
-79.8%
$13,500,000
$11,750,000
-13.0%
19
13
-31.6%
94.5%
97.3%
2.9%
All Properties
offers breathtaking views of the Vail Valley.
numerous outdoor, year-round activities,
2021
Properties Sold % Sold Price to List Price
2021
2022
% Change
$7,811,458
$9,261,666
18.6%
$1,117
$1,255
12.4%
48
28
-41.7%
$13,500,000
$11,750,000
-13.0%
6
6
0.0%
96.1%
98.1%
2.1%
Single Family Homes
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
2022
% Change
$2,047,076
$3,839,571
87.6%
$980
$1,412
44.1%
145
19
-86.9%
$4,000,000
$6,432,000
60.8%
13
7
-46.2%
93.9%
96.5%
2.9%
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
2021
2022
% Change
$2,555,630
$3,172,678
24.1%
$668
$1,046
56.6%
137
$81
-40.9%
$10,605,750
$7,575,000
-28.6%
15
14
-6.7%
95.4%
102.6%
7.5%
All Properties
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 Arrowhead decreased by 40.9% January through March 2022 compared to that of 2021.
2021
2022
% Change
$5,514,237
$6,615,000
20.0%
Just around the corner from Bachelor
$687
$966
40.6%
Gulch, you will find Arrowhead, the final
155
266
71.6%
$10,605,750
$7,575,000
-28.6%
4
4
0.0%
be one of the best kept secrets of the
94.0%
100.7%
7.2%
Colorado Rocky Mountains.
village of Beaver Creek Resort. Considered the western gateway to Beaver Creek Mountain, Arrowhead Village is said to
ARROWHEAD
January through March
40.9%
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
2021
2022
% Change
$1,479,772
$1,795,750
21.4%
$661
$1,078
63.1%
131
7
-94.7%
$3,265,000
$3,000,000
-8.1%
11
10
-9.1%
95.9%
103.3%
7.7%
Condominiums, Townhomes, Duplexes and Triplexes
ARROWHEAD
January through March
MOUNTAIN STAR WILDRIDGE/WILDWOOD
EAGLE-VAIL & AVON
For many, the draw of the Vail Valley includes the various resorts with their skiing and spas. For others, the Vail Valley
January through March
is a place where they can find a home with
Average Sold Price
peace and tranquility along with some of
Average Price per Square Foot
the most breathtaking views imaginable. That sums up what Mountain Star is all about. Although less than thirty minutes
Average Days on Market Highest Price
away from all the action of Eagle County,
Properties Sold
this gated development is everything one
% Sold Price to List Price
2021
2022
% Change
$5,250,000
$9,050,000
72.4%
$591
$848
43.5%
736
551
-25.1%
$6,250,000
$9,050,000
44.8%
2
1
-50.0%
93.6%
96.8%
3.4%
could imagine in a mountain home.
16.7% The amount of properties sold in Wildridge/ Wildwood increased by 16.7% January through March 2022 compared to that of 2021.
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
2022
% Change
$948,750
$1,627,642
71.6%
$355
$563
58.6%
47
75
59.6%
$1,375,000
$4,275,000
210.9%
6
7
16.7%
97.3%
99.0%
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
2022
% Change
$837,372
$961,627
14.8%
$660
$757
14.7%
36
15
-58.3%
$2,525,000
$3,975,000
57.4%
47
36
-23.4%
99.2%
100.3%
1.1%
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
2022
% Change
$1,184,416
$951,033
-19.7%
shops, restaurants, and a quaint movie
$473
$550
16.3%
theater. Perched atop a hill, beautiful views
34
19
-44.1%
$5,200,000
$1,684,600
-67.6%
18
12
-33.3%
98.5%
102.7%
4.3%
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
2021
2022
% Change
$1,239,125
$2,275,909
83.7%
$537
$649
20.9%
8
7
-12.5%
$1,700,000
$4,025,000
136.8%
4
11
175.0%
94.6%
97.7%
3.2%
All Properties
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
2022
% Change
$3,862,500
-
-
$366
-
-
74
-
-
$4,500,000
-
-
2
-
-
82.1%
-
All Properties
of the Vail Valley can be seen throughout the Edwards, including the New York Mountain Range and the Eagle River. Enjoy easy access to various outdoor activities, including winter favorites like skiing, snowshoeing, and fly-fishing.
12.5% The average days on market in Edwards - Singletree decreased by 12.5% January through March 2022 compared to that of 2021.
EDWARDS - LAKE CREEK
January through March
provides effortless access to nearby
EDWARDS - SINGLETREE
January through March
the south side of Edwards, Homestead
2021
EDWARDS - HOMESTEAD
Located conveniently in the Vail Valley on
CORDILLERA & VALLEY CLUB
CORDILLERA
37.5% The highest sold price in Cordillera Ranch, Cordillera Divide, Cordillera Summit, and the Cordillera Valley Club increased by 37.5% January through March 2022 compared to that of 2021.
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
2022
% Change
$2,571,583
$3,721,947
44.7%
$465
$629
35.3%
144
46
-68.1%
$4,000,000
$5,500,000
37.5%
12
10
-16.7%
96.7%
97.6%
0.9%
All Properties - Includes Cordillera Valley Club, Cordillera Divide, Cordillera Ranch, Cordillera Summit, Colorow Creek.
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
2022
% Change
$2,294,888
$3,721,947
62.2%
$420
$629
49.8%
147
46
-68.7%
$4,000,000
$5,500,000
37.5%
9
10
11.1%
97.2%
97.6%
0.4%
All Properties - Includes Cordillera Divide, Cordillera Ranch, Cordillera Summit, Colorow Creek
Cordillera Ranch, Cordillera Summit, January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2022
% Change
$3,401,666
-
-
as its own separate community within
$600
-
-
Edwards, Cordillera thrives on its beautiful
137
-
-
open spaces, proximity to national forest
$3,750,000
-
-
3
-
-
95.2%
-
All Properties
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
conveniently off of Interstate 70. Operating
and BLM lands, and its wide array of activities. Home to the Vail Gondola Club and Cordillera Golf Club, this private community is renowned for its awardwinning golf courses.
2021
2022
% Change
The Town of Eagle is the county seat
$646,616
$960,477
48.5%
of Eagle County, Colorado, and one of
$292
$401
37.3%
Colorado's best-kept secrets. A hidden
43
35
-18.6%
$2,350,000
$5,100,000
117.0%
58
57
-1.7%
sea level with a population of 6,748, the
98.8%
102.5%
3.7%
town is gaining recognition for its small-
All Properties - Includes Eagle Ranch, Brush Creek, Cotton Ranch & Chatfield
gem with pristine and abundant access to mountain biking, hiking, fishing, and yearround events. Located at 6,600 feet above
town charm.
EAGLE & GYPSUM
January through March
and Cordillera Valley Club are situated
2021
CORDILLERA VALLEY CLUB
Located in Edwards, the Cordillera Divide,
WHY COLORADO?
40
NATIONAL PARKS
70
MOUNTAIN RANGES
82
SKI AREAS & RESORTS
03
AVG DAYS OF SUNSHINE ANNUALY
+ 05 3
CRAFT BREWERIES
MICROMARKET REPORT | Vail Valley JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM