Vail Valley Market Reports | Quarter 3 2021

Q3 2021

Micro Market Report VA I L VA L L E Y

Casteel Creek

672 Forest Road

Vail Valley MARKET UPDATE

The Vail Valley has long been known as Colorado’s premier vacation destination, and with good reason.

Home to two of the nation’s largest and most famous ski resorts—Vail and Beaver Creek—the region also comprises the White River National Forest, which offers two million acres of sublime natural beauty and year-round recreational opportunities for locals and visitors alike.

The founders of the town of Vail modeled it after a European-style alpine village, complete with window boxes, hand-painted building exteriors, heated cobblestone streets, and a charming aura that wins over…well, everyone. Gore Creek runs through the center of town, which is teeming with luxurious accommodations, fine dining, and superb shopping venues. Add in the excellent health care system, highly ranked schools and diverse cultural amenities that define the region, and buyers will be hard-pressed to find a more spectacular place to call home. The recent gold-rush effect occurring in Colorado’s resort towns speaks to that fact and continues to push Vail’s real estate numbers higher than imagined.

LIV Sotheby’s International Realty produces a Micro Market Report focused on the Eagle County market, which includes Vail, and its performance in the first three quarters of 2021 compared to the first three quarters of 2020. Real estate brokers in and around the Vail Valley stayed busy from January through September this year, with the area seeing a collective 20.6% spike in the total number of properties sold.

Compared to the same time frame last year, the overall average home price in Eagle County rose 10.1%, from $1,602,440 to $1,764,519. While these numbers are less staggering than those reported at the mid-year mark, they still show a steady increase that reflects the ongoing desire of buyers to settle in the Vail Valley.

Zooming in, data reveals that certain areas saw large increases in the average price of homes sold compared to the same time period in 2020, including Cordillera (Divide, Summit, Ranch) at a 42.3% increase, Cascade with a 43.9% increase, Edwards – Homestead at a 48.7% increase, and Edwards – Lake Creek Valley at a whopping 68.9% increase. Other neighborhoods throughout the Vail Valley saw smaller surges and a few even experienced decreases in the average price of home sales.

Even in the areas where prices are decreasing, however, more houses are selling compared to last year and they’re going faster than ever. The Vail Village saw a drop in days on market from 288 in 2020 to 151 this year and nearly doubled the number of properties sold compared to the same time frame last year.

The neighborhoods of Lionshead, Vail Golf, and Beaver Creek also saw gains, with the highest jump in Beaver Creek at 108.5% more properties sold in 2021 compared to the same time frame in 2020. The number of people relocating to Colorado’s resort communities continues to climb, and Eagle County is clearly one of their most desired landing points.

VAIL VALLEY January through September

2020

2021

% Change

Sold Listings (All Properties)

1,013

1,225

20.9%

Sold Single Family

360

352

-2.2%

Sold Condos/TH/DP

653

873

33.7%

Average Days on Market

124

77

-37.9%

$1,601,200

$1,769,040

10.5%

96.8%

98.5%

1.8%

$1,622,016,426

$2,167,074,873

33.6%

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

6

7

MICROMARKET REPORT | Vail Valley livsothebysrealty.com

JANUARY - SEPTEMBER 2021 • COLORADOMICROREPORTS.COM

TOWN OF VAIL

20.7% The average price per square foot in the Town of Vail increased by 20.7% January through September 2021 compared to that of 2020.

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

2020

2021

% Change

$2,746,755

$2,630,603

-4.2%

$1,063

$1,283

20.7%

156

134

-14.1%

$29,750,000

$34,000,000

14.3%

231

307

32.9%

95.8%

96.9%

1.2%

All Properties - Includes East Vail to West Vail South

January through September

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

$1,359,938

$985,935

-27.5%

$685

$740

8.0%

92

57

-38.0%

$4,800,000

$3,100,000

-35.4%

62

59

-4.8%

98.0%

100.2%

2.3%

All Properties

VAIL GOLF

January through September

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

$3,335,000

$3,284,687

-1.5%

$1,078

$1,100

2.0%

114

131

14.9%

$11,950,000

$8,750,000

-26.8%

9

16

77.8%

96.3%

96.3%

0.1%

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

$7,578,399

$4,142,394

-45.3%

$2,138

$2,026

-5.2%

295

151

-48.8%

$29,750,000

$34,000,000

14.3%

43

87

102.3%

91.8%

95.5%

4.0%

4.0% The percentage sold price to list price in Vail Village increased by 4.0% January through September 2021 compared to that of 2020.

VAIL VILLAGE

January through September

All Properties

January through September

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

2021

% Change

$2,586,921

$3,224,322

24.64%

$1,487

$1,645

10.6%

196

207

5.6%

$6,700,000

$12,450,000

85.8%

32

54

68.8%

95.4%

95.2%

-0.2%

LIONSHEAD

Average Sold Price

2020

All Properties

January through September

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

2021

% Change

$2,156,300

$3,103,222

43.9%

bustling town center and boasts its own

$1,070

$1,229

14.9%

small community of luxury homes and

204

212

3.9%

$5,378,000

$7,250,000

34.8%

10

9

-10.0%

94.0%

95.2%

1.3%

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

2020

WEST VAIL

4.9% The amount of properties sold in West Vail increased by 4.9% January through September 2021 compared to that of 2020.

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

2020

2021

% Change

$1,358,541

$1,322,858

-2.6%

$552

$640

15.9%

93

114

22.6%

$5,000,000

$3,725,000

-25.5%

41

43

4.9%

97.2%

98.2%

1.0%

MINTURN

ALL OTHER VAIL AREAS

All Properties - Includes Areas: West Vail, North to West Vail South, Highland Meadows

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

2020

2021

% Change

$1,294,448

$2,065,486

59.6%

$616

$727

18.0%

181

163

-9.9%

$5,000,000

$8,100,000

62.0%

39

44

12.8%

95.9%

96.7%

0.9%

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 September

area like Eagle county could mean living in

Average Sold Price

the shadows of its neighbors, but Minturn

Average Price per Square Foot

has carved out its own distinct identity.

The town is one of the oldest in the area,

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

$769,676

$814,291

5.8%

$418

$458

9.6%

171

145

-15.2%

$1,220,000

$949,000

-22.2%

17

12

-29.4%

95.7%

97.4%

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

$2,262,498

$2,448,256

8.2%

$839

$949

13.1%

168

134

-20.2%

$12,375,000

$10,950,000

-11.5%

59

123

108.5%

95.8%

97.1%

1.3%

20.2% The average days on market in Beaver Creek decreased by 20.2% January through September 2021 compared to that of 2020.

BEAVER CREEK

January through September

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

$5,465,000

$5,609,952

2.7%

$784

$863

10.1%

166

305

83.7%

$12,375,000

$10,950,000

-11.5%

6

20

233.3%

94.9%

95.1%

0.2%

BEAVER CREEK

January through September

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

$1,899,950

$1,834,334

-3.5%

$845

$966

14.3%

169

101

-40.2%

$8,510,000

$7,602,000

-10.7%

53

103

94.3%

95.9%

97.4%

1.6%

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 September

BACHELOR GULCH BACHELOR GULCH BACHELOR GULCH

3.9% The highest price in Bachelor Gulch increased by 3.9% January through September 2021 compared to that of 2020.

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

a more intimate setting, Bachelor Gulch

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.

2021

% Change

$3,245,556

$4,122,979

27.0%

$960

$1,122

16.9%

162

138

-14.8%

$12,995,000

$13,500,000

3.9%

44

36

-18.2%

95.2%

95.9%

0.8%

All Properties

January through September

Extending the Beaver Creek ambiance to

2020

Properties Sold % Sold Price to List Price

2020

2021

% Change

$7,381,750

$8,236,375

11.6%

$933

$1,115

19.5%

297

138

-53.5%

$12,995,000

$13,500,000

3.9%

10

10

0.0%

93.6%

96.9%

3.5%

Single Family Homes

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

2020

2021

% Change

$2,029,029

$2,540,903

25.2%

$968

$1,124

16.1%

123

138

12.2%

$3,875,000

$5,300,000

36.8%

34

26

-23.5%

95.6%

95.6%

-0.1%

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

$2,237,304

$2,565,954

14.7%

$617

$766

24.1%

177

89

-49.7%

$13,500,000

$10,605,750

-21.4%

50

34

-32.0%

94.7%

97.1%

2.5%

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 sold price in Arrowhead increased by 14.7% January through September 2021 compared to that of 2020.

2020

2021

% Change

$4,132,357

$4,644,995

12.4%

$638

$682

6.9%

303

$129

-57.4%

$13,500,000

$10,605,750

-21.4%

Mountain, Arrowhead Village is said to

14

10

-28.6%

be one of the best kept secrets of the

92.7%

94.7%

2.2%

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 September

14.7%

ARROWHEAD

January through September

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

$1,500,338

$1,699,687

13.3%

$610

$801

31.3%

127

72

-43.3%

$3,375,000

$3,650,000

8.1%

36

24

-33.3%

95.5%

98.0%

2.6%

Condominiums, Townhomes, Duplexes and Triplexes

ARROWHEAD

January through September

MOUNTAIN STAR WILDRIDGE/WILDWOOD

18.6%

EAGLE-VAIL & AVON

For many, the draw of the Vail Valley includes the various resorts with their skiing and spas. For other, the Vail Valley is

January through September

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 view 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

could imagine in a mountain home.

The average price per square foot in Wildridge/ Wildwood increased by 18.6% January through September 2021 compared to that of 2020.

2020

2021

% Change

$6,010,000

$6,064,500

0.9%

$762

$714

-6.3%

230

431

87.4%

$8,530,000

$8,500,000

-0.4%

4

5

25.0%

93.3%

95.5%

2.3%

All Properties *No Sales for Q1 or Q2 in 2020

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

2020

2021

% Change

$1,132,190

$1,150,966

1.7%

$371

$440

18.6%

103

24

-76.7%

$2,525,000

$3,250,000

28.7%

28

27

-3.6%

96.9%

98.7%

1.8%

All Properties

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

2020

2021

% Change

$776,683

$818,954

5.4%

$498

$630

26.5%

82

32

-61.0%

$3,500,000

$3,015,000

-13.9%

132

193

46.2%

97.3%

99.8%

2.6%

All Properties

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

2021

% Change

$739,417

$1,080,165

46.1%

shops, restaurants and a movie theater.

$384

$478

24.5%

Beautiful views of the surrounding Vail

54

20

-63.0%

$1,795,000

$5,200,000

189.7%

56

76

35.7%

97.8%

100.1%

2.4%

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

$1,283,210

$1,579,404

23.1%

$384

$530

38.0%

103

44

-57.3%

$3,375,000

$3,900,000

15.6%

42

34

-19.0%

96.0%

97.9%

1.9%

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 September

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

$1,876,875

$3,170,750

68.9%

$471

$659

39.9%

164

62

-62.2%

$2,895,000

$4,600,000

58.9%

8

8

0.0%

95.1%

93.1%

-2.1%

All Properties

62.2% The average days on market in Edwards Lake Creek decreased by 62.2% January through September 2021 compared to that of 2020.

EDWARDS - LAKE CREEK

January through September

EDWARDS - HOMESTEAD

Homestead is ideally located in the Vail

The highest price in Cordillera & Valley Club increased by 33.6% January through September 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

$2,090,916

$2,965,166

41.8%

$382

$607

58.9%

238

70

-70.6%

$3,800,000

$5,078,000

33.6%

62

63

1.6%

94.8%

98.3%

3.6%

All Properties - Includes Cordillera Valley Club, Cordillera Divide, Cordillera Ranch, Cordillera Summit, Colorow Squaw Creek.

January through September

CORDILLERA

CORDILLERA & VALLEY CLUB

33.6%

January through September

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

2020

2021

% Change

$1,905,748

$2,711,521

42.3%

$349

$517

48.1%

263

59

-77.6%

$3,800,000

$4,760,000

25.3%

52

46

-11.5%

94.6%

98.0%

3.6%

CORDILLERA VALLEY CLUB

All Properties - Includes Cordillera Divide, Cordillera Ranch, Cordillera Summit, Colorow Squaw Creek

Located north of Route 70 west of the town of Edwards, the Cordillera Valley Club may seem like just another private community in Eagle County, but looks can be deceiving. While some of the other areas are subdivisions within any already

January through September Average Sold Price Average Price per Square Foot

established community, Cordillera really

Average Days on Market

acts as its own separate community,

Highest Price

taking care of its own in ways not common in such a setup. In fact, when looking at how it is run, you might think that you were looking at an incorporated town and not a housing development.

Properties Sold % Sold Price to List Price

2020

2021

% Change

$3,053,790

$3,651,500

19.6%

$552

$850

54.0%

109

100

-8.3%

$3,500,000

$5,078,000

45.1%

10

17

70.0%

96.0%

98.9%

3.1%

All Properties

Average Sold Price Average Price per Square Foot

2020

2021

% Change

The Town of Eagle is the county seat

$625,606

$734,016

17.3%

of Eagle County, Colorado, and one of

$264

$329

24.6%

Colorado's best-kept secrets. A hidden

71

29

-59.2%

$2,500,000

$2,570,000

2.8%

233

264

13.3%

99.3%

100.4%

1.1%

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

gem with pristine and abundant access to mountain biking, hiking, fishing, and yearround events. Located at 6,600 feet above sea level with a population of 6,748, the town is gaining recognition for its smalltown 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 September

MICROMARKET REPORT | Vail Valley JANUARY - SEPTEMBER 2021 • COLORADOMICROREPORTS.COM