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
coloradomicroreports.com
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
JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM
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
MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com
JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM
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
MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com
JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM
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
JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM
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
coloradomicroreports.com
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Local Offices
Brokers
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Countries/ Territories
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JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM
WHY COLORADO? NATIONAL PARKS: 4
MOUNTAIN RANGES: 7
SKI AREAS & RESORTS: 28
AVERAGE DAYS OF SUNSHINE ANNUALLY: 300
CRAFT BREWERIES: 350+
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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.