Q2 2021
Micro Market Report VA I L VA L L E Y
12 Chateau Court
1418 Vail Valley Drive #West
Vail Valley MARKET UPDATE
Colorado’s Vail Valley, which is home to world-class ski resorts Vail and Beaver Creek, is surrounded by more than two million acres of the White River National Forest and features charming town squares lined with cobblestone streets and Bavarian architecture, stunning mountain vistas, and gorgeous green meadows. The region offers luxurious amenities including fine dining, shopping, theatre and music. The Vail Valley is easily accessible to both Denver and Grand Junction while the Eagle County Regional Airport offers daily direct flights into the region from major U.S. cities. Boasting hundreds of miles of hiking and mountain biking trails, as well as gold medal fly fishing on the Gore Creek and Eagle River, the Vail Valley is a year-round destination that many have chosen to call home. Real estate in the region has flourished over the past year, with the overall number of property sales nearly doubling. During the height of the pandemic in 2020 buyers were hesitant to purchase property, now the opposite is the case with buyers clamoring to claim a piece of the Vail Valley as their own. And with more workers able to telecommute and venture farther from their city workplaces like never before, Vail Valley is reaping the benefits. LIV Sotheby’s International Realty produces a Micro Market Report focused on the Eagle County market and its performance in the first half of 2021 compared to the first half of 2020.
last year, Vail Golf, where property sales rose 300% over the first half of 2020, and Beaver Creek, which realized an amazing 235.7% increase in property sales. The average selling price of all types of properties also rose 21.4%, from $1,421,452 to $1,725,064 in the Vail Valley. Three neighborhoods experiencing the highest average price increases were Edwards-Lake Creek Valley, where prices rose 117.9%, Vail Golf, which saw an increase of 112.6%, and Arrowhead, which enjoyed a 71.7% increase from the first half of 2020.
VAIL VALLEY January through June
2020
2021
% Change
Sold Listings (All Properties)
405
797
96.8%
Sold Single Family
122
213
74.6%
Sold Condos/TH/DP
283
580
104.9%
Average Days on Market
138
92
-33.3%
$1,421,452
$1,725,064
21.4%
96.3%
98.0%
1.8%
$575,688,383
$1,374,079,367
138.7%
Average Sold Price % Sold Price to List Price Total Sales Volume
Eagle County – All Properties
January through June 2021 were productive months in Vail Valley real estate, with a 96.8% overall increase in sold listings compared to the same months in 2020. The biggest increases were seen in the Town of Vail, which sold 104% more properties this year than during the same time frame
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
6
7
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
JANUARY - JUNE 2021 • COLORADOMICROREPORTS.COM
TOWN OF VAIL
24.0% The average price per square foot in the Town of Vail increased by 24.0% January through June 2021 compared to that of 2020.
January through June Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$2,353,596
$2,485,685
5.6%
$1,028
$1,275
24.0%
206
154
-25.2%
$18,500,000
$34,000,000
83.8%
101
206
104.0%
94.6%
96.7%
2.2%
All Properties - Includes East Vail to West Vail South
January through June
EAST VAIL
Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,290,356
$1,038,146
-19.5%
$663
$756
14.0%
150
72
-52.0%
$4,481,125
$2,925,000
-34.7%
20
32
60.0%
96.7%
100.5%
4.0%
All Properties
VAIL GOLF
January through June
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 of outdoor activities to experience in both summer and winter.
Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,233,333
$2,621,666
112.6%
$652
$1,012
55.2%
225
135
-40.0%
$2,250,000
$8,200,000
264.4%
3
12
300.0%
94.2%
95.8%
1.7%
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
$6,040,000
$3,827,040
-36.6%
$1,992
$2,033
2.1%
387
151
-61.0%
$18,500,000
$34,000,000
83.8%
20
58
190.0%
90.0%
95.8%
6.4%
VAIL VILLAGE
January through June
All Properties
January through June
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
% Change
$2,074,800
$2,644,840
27.5%
$1,434
$1,534
7.0%
211
236
11.8%
$4,250,000
$7,600,000
78.8%
15
38
153.3%
96.1%
94.4%
-1.7%
27.5%
The average sold price in Lionshead increased by 27.5% January through June 2021 compared to that of 2020.
LIONSHEAD
Average Sold Price
2020
All Properties
January through June
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
% Change
$2,475,600
$3,128,625
26.4%
$1,082
$1,159
7.1%
209
238
13.9%
$5,378,000
$7,250,000
34.8%
5
8
60.0%
93.0%
94.6%
1.7%
All Properties
Continuing down the Valley, Cascade Village is slightly removed from the bustling town center and boasts its own small community of luxury homes and 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
2020
WEST VAIL
64.7% The number of properties sold in West Vail increased by 64.7% January through June 2021 compared to that of 2020.
January through June Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,445,598
$1,404,270
-2.9%
$550
$639
16.2%
168
159
-5.4%
$3,850,000
$3,725,000
-3.2%
17
28
64.7%
96.7%
98.0%
1.4%
MINTURN
ALL OTHER VAIL AREAS
All Properties - Includes Areas: West Vail, North to West Vail South, Highland Meadows
22.8% The average price per square foot in all other Vail areas increased by 22.8% January through June 2021 compared to that of 2020.
January through June Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,222,440
$2,122,050
73.6%
$609
$748
22.8%
185
186
0.5%
$3,850,000
$8,100,000
110.4%
25
34
36.0%
95.1%
96.6%
1.6%
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
January through June
area like Eagle county could mean living in
Average Sold Price
the shadows of its neighbors, but Minturn has carved out its own distinct identity. The town is one of the oldest in the area,
Average Price per Square Foot Average Days on Market
being incorporated in 1904. To this day,
Highest Price
the town reflects the unique and eclectic
Properties Sold
feel that comes from bringing together
% Sold Price to List Price
people from diverse locations.
2020
2021
% Change
$764,444
$940,000
23.0%
$398
$441
10.8%
149
213
43.0%
$1,139,000
$940,000
-17.5%
9
8
-11.1%
96.0%
96.5%
0.5%
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
$1,932,764
$2,301,018
19.1%
$781
$923
18.2%
155
154
-0.6%
$6,500,000
$10,950,000
68.5%
28
94
235.7%
95.3%
96.6%
1.4%
68.5% The highest price in Beaver Creek increased by 68.5% January through June 2021 compared to that of 2020.
BEAVER CREEK
January through June
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
$6,017,615
57.0%
$631
$890
41.0%
140
412
194.3%
$6,500,000
$10,950,000
68.5%
3
13
333.3%
92.7%
94.3%
1.7%
BEAVER CREEK
January through June
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
$1,704,696
$1,704,527
0.0%
$799
$928
16.1%
157
112
-28.7%
$6,000,000
$6,800,000
13.3%
25
81
224.0%
95.6%
97.0%
1.5%
Condominiums, Townhomes, Duplexes and Triplexes
Beaver Creek, Colorado is considered the best of resort living. Nestled in the White River National Forrest, Beaver Creek provides the luxurious amenities of a modern resort while having a relaxing environment of an alpine village.
BEAVER CREEK
January through June
BACHELOR GULCH BACHELOR GULCH BACHELOR GULCH
73.4% The average price in Bachelor Gulch increased by 73.4% January through June 2021 compared to that of 2020.
January through June Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$2,510,238
$4,352,423
73.4%
$908
$1,028
13.2%
174
146
-16.1%
$9,500,000
$13,500,000
42.1%
21
23
9.5%
94.6%
94.9%
0.3%
All Properties
January through June
Extending the Beaver Creek ambiance to a more intimate setting, Bachelor Gulch offers breathtaking views of the Vail Valley.
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
numerous outdoor, year-round activities, and the Bachelor Gulch experience is truly limitless.
Properties Sold % Sold Price to List Price
2020
2021
% Change
$6,433,333
$8,289,843
28.9%
$797
$1,089
36.6%
420
152
-63.8%
$9,500,000
$13,500,000
42.1%
3
8
166.7%
91.3%
96.4%
5.6%
Single Family Homes
January through June Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,856,368
$2,252,466
21.3%
$927
$995
7.3%
133
142
6.8%
$3,875,000
$5,200,000
34.2%
18
15
-16.7%
95.2%
94.1%
-1.2%
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
$1,644,100
$2,822,698
71.7%
$599
$707
18.0%
162
$114
-29.6%
$3,325,000
$10,605,750
219.0%
14
25
78.6%
95.2%
95.9%
0.7%
78.6% The number of properties sold in Arrowhead increased by 78.6% January through June 2021 compared to that of 2020.
ARROWHEAD
January through June
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
$4,916,661
76.4%
$511
$695
36.0%
197
$143
-27.4%
$3,150,000
$10,605,750
236.7%
Mountain, Arrowhead Village is said to
2
9
350.0%
be one of the best kept secrets of the
94.5%
94.1%
-0.3%
Just around the corner from Bachelor Gulch, you will find Arrowhead, the final village of Beaver Creek Resort. Considered the western gateway to Beaver Creek
Colorado Rocky Mountains.
ARROWHEAD
January through June
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
$1,453,533
$1,644,843
13.2%
$614
$713
16.1%
156
97
-37.8%
$3,325,000
$3,265,000
-1.8%
12
16
33.3%
95.4%
96.9%
1.7%
Condominiums, Townhomes, Duplexes and Triplexes
ARROWHEAD
January through June
includes the various resorts with their skiing and spas. For other, the Vail Valley is
January through June
2020
2021
% Change
a place where they can find a home with
Average Sold Price
-
$5,290,833
-
peace and tranquility along with some of
Average Price per Square Foot
-
$592
-
Average Days on Market
-
625
-
Highest Price
-
$6,250,000
-
No Sales
3
-
-
95.0%
-
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
WILDRIDGE/WILDWOOD
could imagine in a mountain home.
76.2%
EAGLE-VAIL & AVON
MOUNTAIN STAR
For many, the draw of the Vail Valley
148%
The average days on market in Wildridge/ Wildwood decreased by 76.2% January through June 2021 compared to that of 2020.
All Properties *No Sales for Q1 in 2020
January through June Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,111,450
$1,254,730
12.9%
$355
$398
12.1%
130
31
-76.2%
$2,525,000
$3,250,000
28.7%
10
13
30.0%
96.3%
98.7%
2.4%
All Properties
The number of properties sold in Eagle-Vail & Avon increased by 148.0% January through June 2021 compared to that of 2020.
January through June Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$786,381
$775,520
-1.4%
$547
$612
11.9%
79
35
-55.7%
$2,200,000
$3,015,000
37.0%
50
124
148.0%
97.5%
99.4%
1.9%
All Properties
January through June Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
% Change
$681,676
$1,075,802
57.8%
shops, restaurants and a movie theater.
$358
$450
25.7%
Beautiful views of the surrounding Vail
74
25
-66.2%
$1,795,000
$5,200,000
189.7%
22
45
104.5%
97.9%
99.6%
1.7%
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
$1,149,233
$1,422,928
23.8%
$338
$501
48.2%
127
66
-48.0%
$1,925,000
$3,900,000
102.6%
15
21
40.0%
94.7%
98.6%
4.1%
Edwards, providing quick access to nearby
Valley can be seen throughout Edwards, including the New York Mountain Range and the Eagle River, while allowing for easy access to a variety of outdoor activities year-round including skiing, hiking, biking and fly-fising.
EDWARDS - SINGLETREE
January through June
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
$1,710,000
$3,726,000
117.9%
$509
$682
34.0%
100
94
-6.0%
$2,250,000
$4,600,000
104.4%
4
5
25.0%
93.6%
88.7%
-5.2%
All Properties
34.0% The average price per square foot in Edwards - Lake Creek increased by 34.0% January through June 2021 compared to that of 2020.
EDWARDS - LAKE CREEK
January through June
EDWARDS - HOMESTEAD
Homestead is ideally located in the Vail
CORDILLERA & VALLEY CLUB
CORDILLERA
69.8% The average days on market in Cordillera & Valley Club decreased by 69.8% January through June 2021 compared to that of 2020.
January through June Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$2,137,550
$2,773,042
29.7%
$395
$509
28.9%
252
76
-69.8%
$3,800,000
$4,760,000
25.3%
20
35
75.0%
94.3%
97.0%
2.9%
All Properties - Includes Cordillera Valley Club, Cordillera Divide, Cordillera Ranch, Cordillera Summit, Colorow Squaw Creek.
93.8% The number of properties sold in Cordillera increased by 93.8% January through June 2021 compared to that of 2020.
January through June Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$1,915,687
$2,662,951
39.0%
$358
$493
37.7%
269
73
-72.9%
$3,800,000
$4,760,000
25.3%
16
31
93.8%
93.9%
97.0%
3.3%
CORDILLERA VALLEY CLUB
All Properties - Includes Cordillera Divide, Cordillera Ranch, Cordillera Summit, Colorow Squaw Creek
19.9% The average price in Cordillera Valley Club increased by 19.9% January through June 2021 compared to that of 2020.
January through June Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$3,025,000
$3,626,250
19.9%
$542
$630
16.2%
187
103
-44.9%
$3,475,000
$4,300,000
23.7%
4
4
0.0%
95.7%
96.4%
0.7%
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
$615,841
$726,201
17.9%
of Eagle County, Colorado, and one of
$273
$315
15.4%
Colorado's best-kept secrets. A hidden
83
30
-63.9%
$2,500,000
$2,350,000
-6.0%
round events. Located at 6,600 feet above
89
166
86.5%
sea level with a population of 6,748, the
99.3%
100.2%
0.9%
town is gaining recognition for its small-
gem with pristine and abundant access to mountain biking, hiking, fishing, and year-
town charm.
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 June
MICROMARKET REPORT | Vail Valley JANUARY - JUNE 2021 • COLORADOMICROREPORTS.COM