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