Vail Valley Year End 2019 Micro Market Report

MICROMARKET REPORT

VAIL VALLEY | YEAR END 2019

VAIL VALLEY

TOWNS & NEIGHBORHOODS

19

17 18

14 15

12 13

16

10 5

8 11 9

4

3

1

2

7

6

Pictured on cover: 246 Strawberry Park Court, Beaver Creek

1.

East Vail

8.

Avon

15. Edwards & Homestead

2.

Vail Golf Course & Spraddle Creek

9.

Beaver Creek

16. Edwards - Lake Creek Valley

3.

Vail Village

10. Mountain Star

17. Cordillera Valley Club

4.

Lionshead

11. Bachelor Gulch

18. Cordillera

5.

West Vail & Cascade

12. Wildridge/Wildwood

19. Eagle, Eagle Ranch, Brush Creek &

6.

Minturn

13. Arrowhead

7.

Eagle-Vail

14. Edwards - Singletree

Gypsum

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VAIL VALLEY MARKET UPDATE

No matter the season, the Vail Valley is always a great place to be. The mountains that house the Vail Valley are either covered with wildflowers in the summer or veiled with sparkling snow in the winter, making this region an astounding sight to see at any time of the year. Many migrate to Eagle County, which includes the towns and neighborhoods of Vail Village, Beaver Creek, Avon, and Cordillera to name a few, for its attractive resort lifestyle and unbeatable scenery.

LIV Sotheby’s International Realty produces a Micro Market Report focusing on the real estate performance for Eagle County, which makes up the Vail Valley, for 2019 compared to 2018. Total sales volume for Eagle County grew by 4.4%, January through December 2018 2019 % Change reaching $1,768,165,313 by the end of 2019.

Sold Listings (All Properties) 1,350 1,401 3.8% As a whole, attached homes (condominiums, Sold Single Family 502 485 -3.4% townhouses, and duplexes) saw more sales Sold Condos/TH/DP 848 916 8.0% (+8%) last year.

EAGLE COUNTY OVERVIEW

Average Days on Market

116

122

5.1%

Average Sold Price $1,254,075 $1,262,074 0.6% A handful of communities within Vail Valley % Sold Price to List Price 94% 94% 0.0% experienced noteworthy upticks in the Total Sales Volume $1,693,001,149 $1,768,165,313 4.4% number of property sales closed in 2019.

The most tremendous increase was seen in All Properties Edwards – Lake Creek. This community had a 450% boost in properties sold in 2019 when 11 homes were sold, compared to 2018 when only two homes were sold. Another dramatic increase of properties sold took place in Vail Golf Course and Spraddle Creek where the number of sales more than doubled, climbing by 120%. Other neighborhoods included in the Vail Valley such as Booth Creek, Potato Patch, Sandstone, Lionsridge, Buffehr Creek, and Highland Meadows also saw increased sales activity, with the number of sold homes growing by 43.4%.

The Vail Valley is known for having a balance of rugged outdoors and elegant amenities including plenty of shopping, dining, and nightlife options to choose from. As one of the more luxurious mountain communities, the Vail Valley is a natural choice for many homeowners looking to the best of both worlds in Colorado.

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.

MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com

JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM

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

2018

2019

% Change

$1,980,456

$1,955,473

-1.3%

$598

$600

0.3%

169

203

19.6%

$9,525,000

$9,300,000

-2.4%

48

55

14.6%

95%

95%

0.3% All Properties

2156 Cresta Road, Arrowhead

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

2018

2019

% Change

$3,421,563

$3,498,906

2.3%

$605

$627

3.8%

227

337

48.5%

$9,525,000

$9,300,000

-2.4%

16

16

0.0%

94%

95%

0.6%

Arrowhead, the westernmost village of Beaver Creek, offers skiers quick access to beginner and intermediate terrain on Beaver Creek Mountain.

Single Family Homes

5.0%

The average price for condos, townhomes, duplexes and triplexes in the neighborhood of Arrowhead increased by 5.0% in 2019 compared to that of 2018.

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

2018

2019

% Change

$1,259,903

$1,322,269

5.0%

$595

$589

-1.1%

141

147

4.9%

$2,500,000

$3,392,500

35.7%

32

39

21.9%

95%

95%

-0.1%

Condominiums, Townhomes, Duplexes and Triplexes

coloradomicroreports.com

BACHELOR GULCH January through December Average Price Average Price per Square Foot Average Days on Market Highest Price

2018

2019

% Change

$2,278,075

$2,754,620

20.9%

$877

$899

2.5%

207

232

11.8%

$7,500,000

$10,200,000

36.0%

20

25

25.0%

93%

96%

2.8%

Properties Sold % Sold Price to List Price

Charmingly tucked away between Beaver Creek and Arrowhead, Bachelor Gulch offers private mountainside living and access to a five-star luxury resort-hotel, The RitzCarlton, Bachelor Gulch.

All Properties

BACHELOR GULCH

91.2%

January through December Average Price Average Price per Square Foot

The average price for single family homes in the neighborhood of Bachelor Gulch increased by 91.2% in 2019 compared to that of 2018.

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

2018

2019

% Change

$4,000,000

$7,648,750

91.2%

$870

$947

8.9%

134

112

-16.8%

$7,500,000

$10,200,000

36.0%

3

4

33.3%

90%

98%

8.6%

Single Family Homes

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

2018

2019

% Change

$1,974,206

$1,822,405

-7.7%

$879

$890

1.3%

220

255

15.7%

$5,250,000

$3,250,000

-38.1%

17

21

23.5%

94%

94%

0.0%

Condominiums, Townhomes, Duplexes and Triplexes

3483 Daybreak Ridge, Bachelor Gulch

MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com

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94%

The % sold price to list price for all properties in the neighborhood of Beaver Creek remained consistent at 94% in 2019

compared to that of 2018.

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

2018

2019

% Change

$2,252,612

$1,774,130

-21.2%

$753

$769

2.1%

202

212

5.2%

$13,500,000

$7,400,000

-45.2%

115

110

-4.3%

94%

94%

0.0% All Properties

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

Beaver Creek delivers an 2018

2019

% Change

$5,185,700

$3,503,819

-32.4%

$680

$632

-7.1%

323

389

20.6%

$13,500,000

$7,400,000

-45.2%

20

13

-35.0%

92%

92%

0.4%

unmatched, unparalleled mountain vacation experience with upscale galleries, high-end boutiques, premium spa and lodging options, as well as some of the best skiing the Colorado Rocky

Single Family Homes

Mountains has to oer.

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

22 Strawberry Park, Beaver Creek

2018

2019

% Change

$1,635,120

$1,542,316

-5.7%

$769

$788

2.5%

176

188

7.0%

$8,200,000

$6,316,666

-23.0%

95

97

2.1%

95%

94%

-0.8%

Condominiums, Townhomes, Duplexes and Triplexes

coloradomicroreports.com

CORDILLERA/VALLEY CLUB January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

18.1%

2018

2019

% Change

$1,778,919

$2,101,091

18.1%

$355

$402

13.1%

217

230

5.8%

$3,675,000

$4,700,000

27.9%

The average price for the neighborhood of

43

56

30.2%

Cordillera/Valley Club increased by 18.1% in

94%

93%

-0.7%

2019 compared to that of 2018.

All Properties

CORDILLERA The Club at Cordillera offers

January through December

its members an unparalleled

Average Price

lifestyle experience, with

Average Price per Square Foot

access to world-class

Average Days on Market

golfing, exquisite dining, and

Highest Price

lively events.

Properties Sold % Sold Price to List Price

2018

2019

% Change

$1,708,153

$1,780,248

4.2%

$344

$352

2.2%

194

274

41.4%

$3,675,000

$4,700,000

27.9%

36

39

8.3%

94%

92%

-2.2%

All Properties

CORDILLERA VALLEY CLUB January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price All Properties

2018

2019

% Change

$2,142,857

$2,837,143

32.4%

$412

$516

25.4%

338

128

-62.0%

$3,000,000

$4,650,000

55.0%

7

17

142.9%

92%

96%

4.3%

33 Wilmor Drive, Cordillera

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EDWARDS & HOMESTEAD January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$650,999

$741,392

13.9%

$356

$367

3.1%

63

80

26.2%

$1,900,000

$3,700,000

94.7%

86

96

11.6%

96%

98%

1.7% All Properties

141 E Lakeside Trail, Wolcott

EDWARDS - LAKE CREEK January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

Positioned almost at the

2018

2019

% Change

$1,597,500

$2,907,273

82.0%

$366

$504

37.9%

451

151

-66.5%

$1,995,000

$6,400,000

220.8%

2

11

450.0%

96%

93%

-2.9%

center of the Eagle River Valley, Edwards beneďŹ ts from geography that lends well to rolling green golf courses – and receives less snow than the high peaks of the nearby ski mountains for a much more mild and

All Properties

sunny climate.

EDWARDS - SINGLETREE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

157 Pilgrim Drive, Edwards

2018

2019

% Change

$1,056,407

$1,171,512

10.9%

$375

$388

3.5%

97

93

-3.9%

$2,675,000

$2,175,000

-18.7%

56

49

-12.5%

94%

96%

2.0% All Properties

coloradomicroreports.com

TOWN OF VAIL January through December

2018

2019

% Change

$2,331,617

$2,133,219

-8.5%

$962

$928

-3.5%

158

157

-0.6%

$23,000,000

$20,750,000

-9.8%

291

312

7.2%

93%

93%

0.4%

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

Vail sits at an elevation of 8,150 feet, receives over 335 inches of annual snowfall, and is home to one of the leading ski resorts in North America, Vail Ski Resort.

All Properties - Includes East Vail to West Vail South

5.2%

The average price for the neighborhood

of East Vail increased by 5.2% in 2019 compared to that of 2018.

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

2018

2019

% Change

$1,038,128

$1,092,417

5.2%

$582

$630

8.2%

69

72

4.6%

$4,420,000

$4,100,000

-7.2%

80

67

-16.3%

94%

96%

1.8% All Properties

WEST VAIL & CASCADE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$1,409,827

$1,436,181

1.9%

$546

$603

10.4%

114

127

11.3%

$3,950,000

$5,151,000

30.4%

51

70

37.3%

95%

95%

-0.4%

All Properties - Includes West Vail North to West Vail South, Highland Meadows and Cascade

1966 W Gore Creek Drive, Vail

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

2018

2019

% Change

$766,231

$837,178

9.3%

$371

$421

13.3%

101

125

23.1%

$1,400,000

$1,455,000

3.9%

18

18

0.0%

96%

94%

-2.1% All Properties

141 E Meadow Drive, Vail

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

2018

2019

% Change

$5,425,000

$4,365,000

-19.5%

$620

$634

2.2%

738

544

-26.2%

$5,425,000

$6,500,000

19.8%

1

3

200.0%

91%

86%

-6.1%

2.2%

The average price per square foot for the

neighborhood of Mountain Star increased by 2.2% in 2019 compared to that of 2018.

All Properties

WILDRIDGE/WILDWOOD January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

1 Willow Bridge Road #42, Vail Village

2018

2019

% Change

$919,559

$850,107

-7.6%

$326

$334

2.6%

96

103

7.2%

$1,820,000

$2,900,000

59.3%

47

42

-10.6%

97%

97%

0.0% All Properties

coloradomicroreports.com

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

2018

2019

% Change

$5,022,387

$4,391,620

-12.6%

$1,851

$1,839

-0.6%

284

374

31.7%

$23,000,000

$19,000,000

-17.4%

51

46

-9.8%

93%

93%

-0.2%

All Properties

2794 Snowberry Drive, Vail

25.2%

The average days on market for the neighborhood of Lionshead decreased by 25.2% in 2019

compared to that of 2018.

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

2018

2019

% Change

$2,961,167

$2,327,828

-21.4%

$1,426

$1,394

-2.2%

227

170

-25.2%

$10,500,000

$8,500,000

-19.0%

51

39

-23.5%

94%

95%

1.8% All Properties

VAIL GOLF COURSE & SPRADDLE CREEK January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$6,016,275

$5,407,877

-10.1%

$1,109

$1,185

6.8%

255

142

-44.2%

$18,500,000

$20,750,000

12.2%

10

22

120.0%

88%

89%

1.9%

One of Vail’s most prestigious gated communities, Spraddle Creek Estates offers unparalleled views of Vail Mountain and is bordered

by National Forest.

All Properties

MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com

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16.9%

The average price for Avon and the neighborhoods of Eagle-Vail and Wildridge increased by 16.9% in

2019 compared to that of 2018.

EAGLE-VAIL, AVON & WILDRIDGE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

2019

% Change

$657,161

$768,372

16.9%

$426

$470

10.2%

79

84

6.2%

$2,195,000

$2,900,000

32.1%

231

235

1.7%

97%

97%

0.3% All Properties

EAGLE & GYPSUM January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

The town of Eagle has 2018

2019

% Change

over 100 miles of pristine

$545,008

$535,393

-1.8%

singletrack for mountain

$244

$262

7.5%

biking, hiking, trail running

75

73

-2.7%

and horseback riding in

$2,400,000

$3,999,000

66.6%

summer and snowshoeing,

323

316

-2.2%

Nordic skiing and

98%

99%

0.7%

backcountry skiing in winter.

All Properties - Includes Eagle Ranch, Brush Creek, Cotton Ranch/Chatfield

ALL OTHER VAIL AREAS January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

64 Lasso, Gypsum

2018

2019

% Change

$1,236,091

$1,287,996

4.2%

$567

$588

3.7%

117

141

20.3%

$5,332,500

$5,175,000

-3.0%

53

76

43.4%

93%

94%

1.4%

All Properties - Includes Booth Creek, Potato Patch, Sandstone, Lionsridge, Valley Ridge at Vail (Now Buffehr Creek), Highland Meadows

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WHY LIV SOTHEBY’S INTERNATIONAL REALTY?

23

500

Local Offices

Brokers

72

Countries/ Territories

1,000

Global Offices

22,700

Sales Associates Worldwide

1

Exceptional Brand

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WHY COLORADO? NATIONAL PARKS: 4

MOUNTAIN RANGES: 7

SKI AREAS & RESORTS: 28

AVERAGE DAYS OF SUNSHINE ANNUALLY: 300

CRAFT BREWERIES: 350+

IMAGINE. DESIGN. SHOP.

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livsothebysrealty.com | coloradomicroreports.com Based on Information from REColorado. This representation is based in whole or in part on data supplied by REColorado. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.