Vail Valley MARKET UPDATE

Known for its ski resorts in Vail and Beaver Creek, the Vail Valley is synonymous with outdoor recreation. In addition to 7,000 acres of lift-serviced skiing, the region offers miles of hiking and biking trails and flyfishing, paddleboarding, and kayaking on its rivers and lakes. The area is also an easily accessible destination, with the Eagle County Regional Airport (EGE) providing a jet center and commercial service from twelve cities.

The average days on market in Eagle County has gone from 40 days to 69 days in the first quarter of 2023, allowing buyers more time to tour properties and make decisions. Total sales volume has declined 29.6% but sold prices and average price per square foot continue to trend upward in most neighborhoods. Vail Village’s average sold price notched up 24.2% from $5,299,208 to $6,582,111 compared to 2022. The average price per square foot rose from $2,383 to $3,053 as demand stays strong for properties within walking distance to ski lifts, restaurants, and luxury shops.

The Vail Golf Course community had a 54.5% jump in average sold price, from $3,278,333 to $5,065,000, with the highest price ringing in at $6.85 million. Arrowhead had strong results in the first quarter as well, with a 31.5% increase in average sold price from $3,172,678 to $4,173,571. Wildridge and Wildwood continue to be attractive for buyers, with an average sold price of $2,241,250, up 37.7%.

The Vail Valley also boasts an enviable arts scene, with entertainment ranging from jazz, ballet and opera to bluegrass and rock at the Gerald R. Ford Amphitheater in Vail and the Vilar Performing Arts Center in Beaver Creek. The Vail Valley is a favorite destination for visitors from throughout the US and worldwide. As many of these guests consider relocating to the Colorado mountains or purchasing a vacation home, demand for properties remains healthy.