MICROMARKET REPORT |
Vail Valley • Mid-Year 2018
VAIL VALLEY NEIGHBORHOODS 1.
East Vail
2.
Vail Golf Course & Spraddle Creek
3.
Vail Village
4. Lionshead 5.
West Vail & Cascade
6. Minturn 7. Eagle-Vail
19
8. Avon 17 18
16
14 15
12 13
10
11 9
5
8 7
6
4
3
2
1
9.
Beaver Creek
10.
Mountain Star
11.
Bachelor Gulch
12. Wildridge/Wildwood 13. Arrowhead 14.
Edwards - Singletree
15.
Edwards & Homestead
16.
Edwards - Lake Creek Valley
17.
Cordillera Valley Club
18. Cordillera 19.
Eagle, Eagle Ranch, Brush Creek & Gypsum
Pictured on cover: 1109 Vail Valley Drive, Vail
coloradomicroreports.com
VAIL VALLEY market update The Vail Valley luxury housing market delivered some positive results in January through June 2018. Not only did the continued 10-yearlow in inventory cause upward pressure on desirable properties, contributing to the increased number of single family residence sales throughout the Vail Valley region (Edwards, Vail, Beaver Creek), but many domestic and international Buyers continued to invest in Vail Valley real estate, based on their confidence in the local economy. LIV Sotheby’s International Realty’s year-end Vail Valley Micro Market Report, compares January through June 2018 statistics, to that of 2017, for single family homes and attached dwellings in Eagle County. The number of single family homes sold rose to
EAGLE COUNTY January through June
2017
2018
% Change
Sold Listings (All Properties)
622
626
0.3%
Sold Single Family
212
223
4.7%
4.7% year-over-year, with average days on market decreasing 19%,
Sold Condos/TH/DP
410
403
-2.0%
from 141 days in January through June 2017, to just 117 days in
Average Days on Market
142
117
-19.0%
2018, an excellent time frame for the resort market where homes
Average Price
$1,211,769
$1,310,847
8.2%
typically stay on the market longer. Average sales prices increased
% Sold Price to List Price
94.8%
94.1%
-0.8%
by 8.2% year-over-year, demonstrating consumers’ willingness to
Total Dollar Volume Sold
$753,720,428
$820,590,252
8.6%
pay more for homes they truly desire, especially at the higher end
All Properties
of the market. Several eye-popping sales also took place January through June 2018 for LIV Sotheby’s International Realty; the $13,400,000 sale of 51 Chateau Lane #11 in June 2018, followed by the $11,400,000 sale of 304 Bridge Street #R3 that took place in May 2018. These significant sales serve as a testament to the strength of the Vail Valley real estate market.
livsothebysrealty.com
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 MID -YEAR 2018 • COLORADOMICROREPORTS.COM
ARROWHEAD January through June Average Price
2017
$1,545,714
6.7%
$552
$587
6.3%
117
68
-41.9%
$2,850,000
$4,150,000
45.6%
21
14
-33.3%
96.3%
95.7%
-0.6%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$1,448,899
Average Price per Square Foot
Highest Price
2018
Arrowhead, the western-most village of Beaver Creek, offers skiers quick access to beginner and intermediate terrain on Beaver Creek Mountain.
All Properties
ARROWHEAD January through June
2017
Average Price
$2,611,775
$3,315,000
26.9%
$556
$577
3.8%
304
302
-0.7%
$2,850,000
$4,150,000
45.6%
5
2
-60.0%
97.7%
95.0%
-2.7%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
Single Family Homes 12 Cabin Creek Lane, Arrowhead
ARROWHEAD January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes
2017
2018
% Change
$1,085,500
$1,250,833
15.2%
$550
$588
6.9%
58
29
-50.0%
$2,056,000
$2,500,000
21.6%
16
12
-25.0%
95.2%
94.8%
-0.4%
15.2%
The average price for condos, townhomes, and duplexes in Arrowhead increased by 15.2% January through June 2018 compared to that of 2017.
coloradomicroreports.com
BACHELOR GULCH January through June Average Price
2017
$2,365,625
-48.3%
$971
$837
-13.8%
325
221
-32.0%
$13,400,000
$5,250,000
-60.8%
15
8
-46.7%
95.4%
93.4%
-2.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$4,575,500
Average Price per Square Foot
Highest Price
2018
All Properties 3243 Daybreak Ridge Road, Bachelor Gulch
BACHELOR GULCH January through June Average 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 Ritz-Carlton, Bachelor Gulch.
Average Price per Square Foot
2017
$2,200,000
-75.3%
$1,060
$608
-42.6%
185
389
110.3%
$13,400,000
$2,200,000
-83.6%
5
1
-80.0%
96.7%
77.2%
-20.2%
Properties Sold % Sold Price to List Price
% Change
$8,889,000
Average Days on Market Highest Price
2018
Single Family Homes
1.8%
January through June 2018, the percent sold price to list price for condos, townhomes, and duplexes in Bachelor Gulch increased by 1.8% compared to that of 2017.
BACHELOR GULCH January through June
2017
Average Price
$2,418,750
$2,389,286
-1.2%
$927
$869
-6.3%
395
197
-50.1%
$5,480,000
$5,250,000
-4.2%
10
7
-30.0%
93.8%
95.5%
1.8%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
Condos, Townhomes, Duplexes
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
MID -YEAR 2018 • COLORADOMICROREPORTS.COM
BEAVER CREEK January through June Average Price
2017
$2,509,312
16.2%
$785
$749
-4.6%
255
164
-35.7%
$10,700,000
$13,500,000
26.2%
47
62
31.9%
95.2%
94.2%
-1.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$2,159,934
Average Price per Square Foot
Highest Price
2018
Beaver Creek ski area is located on National Forest System lands. Prior to construction, all lifts, trails, and facilities must be approved by the Forest Service.
All Properties
BEAVER CREEK January through June Average Price
2017
$6,072,429
-11.6%
$760
$769
1.2%
198
279
40.9%
$10,700,000
$13,500,000
26.2%
3
14
366.7%
95.0%
93.8%
-1.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$6,866,667
Average Price per Square Foot
Highest Price
2018
26.2%
January through June 2018, the highest sold price for single family homes in Beaver Creek increased by 26.2% compared to that of 2017.
Single Family Homes
BEAVER CREEK January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$1,839,020
$1,470,070
-20.1%
$787
$743
-5.6%
259
131
-49.4%
$6,040,000
$4,276,500
-29.2%
44
48
9.1%
95.3%
94.9%
-0.5%
Condos, Townhomes, Duplexes 185 Elk Track Road, Beaver Creek
coloradomicroreports.com
4.6%
The average price per square foot in Cordillera and Cordillera Valley Club increased by 4.6% January through June 2018 compared to that of 2017.
CORDILLERA/VALLEY CLUB January through June
2017
Average Price
$1,701,609
$1,757,781
3.3%
$325
$340
4.6%
367
228
-37.9%
$3,200,000
$3,475,000
8.6%
23
16
-30.4%
92.0%
96.2%
4.5%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
All Properties
CORDILLERA January through June
2017
Average Price
$1,624,974
$1,553,808
-4.4%
$303
$321
5.9%
413
197
-52.3%
$3,200,000
$3,475,000
8.6%
19
13
-31.6%
92.0%
96.3%
4.7%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
All Properties 1117 Summit Trail, Cordillera
CORDILLERA VALLEY CLUB January through June Average Price
The Club at Cordillera offers its members an unparalleled lifestyle experience, with access to world-class golfing, exquisite dining, and lively events.
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$2,065,625
$2,641,667
27.9%
$431
$425
-1.4%
152
364
139.5%
$2,500,000
$3,000,000
20.0%
4
3
-25.0%
92.8%
92.2%
-0.6%
All Properties
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
MID -YEAR 2018 • COLORADOMICROREPORTS.COM
EDWARDS & HOMESTEAD January through June
2017
Average Price
$563,009
$611,226
8.6%
$360
$359
-0.3%
41
63
53.7%
$2,598,500
$1,895,000
-27.1%
46
46
0.0%
97.2%
95.7%
-1.6%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
All Properties 124 Spring Place, Edwards
EDWARDS - LAKE CREEK VALLEY January through June
2017
Average Price
$1,813,571
$1,200,000
-33.8%
$424
$275
-35.1%
262
137
-47.7%
$3,650,000
$1,200,000
-67.1%
7
1
-85.7%
89.4%
89.6%
0.1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
Positioned almost at the center of the Eagle River Valley, Edwards benefits 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 sunny climate.
All Properties
EDWARDS - SINGLETREE January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$1,036,944
$944,319
-8.9%
$373
$373
0.0%
149
103
-30.9%
$2,175,000
$1,325,000
-39.1%
18
20
11.1%
94.9%
96.0%
1.1%
All Properties 116 Settlers Loop, Edwards
coloradomicroreports.com
TOWN OF VAIL
17.3%
January through June
2017
Average Price
$2,235,731
$2,622,299
17.3%
$925
$1,053
13.8%
208
184
-11.5%
$23,000,000
$18,500,000
-19.6%
131
134
2.3%
93.1%
92.6%
-0.5%
Average Price per Square Foot Average Days on Market
January through June 2018, the average price for the Town of Vail increased by 17.3% compared to that of 2017.
Highest Price Properties Sold % Sold Price to List Price
2018
% Change
All Properties
EAST VAIL January through June Average Price
2017
$1,128,710
17.5%
$524
$591
12.8%
101
76
-24.8%
$3,750,000
$4,420,000
17.9%
31
31
0.0%
94.9%
95.2%
0.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$960,961
Average Price per Square Foot
Highest Price
2018
All Properties 2065 Vermont Trail, Vail
WEST VAIL & CASCADE 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.
January through June
2017
2018
Average Price
$1,883,978
$1,112,056
-41.0%
$676
$531
-21.4%
151
103
-31.8%
$5,500,000
$2,900,000
-47.3%
26
18
-30.8%
94.7%
94.4%
-0.3%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
All Properties
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
MID -YEAR 2018 • COLORADOMICROREPORTS.COM
VAIL VILLAGE January through June
2017
Average Price
$5,128,475
$4,562,760
-11.0%
$1,872
$1,778
-5.0%
242
393
62.4%
$23,000,000
$14,000,000
-39.1%
20
26
30.0%
93.0%
93.8%
0.8%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
30.0%
The number of propeties sold in Vail Village increased by 30.0% January through June 2018 compared to that of 2017.
All Properties
LIONSHEAD January through June
2017
2018
Average Price
$2,915,159
$2,956,618
1.4%
$1,355
$1,396
3.0%
536
233
-56.5%
$12,425,000
$10,500,000
-15.5%
22
34
54.5%
90.2%
92.8%
2.8%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
All Properties 714 Lionshead Place #Penthouse, Lionshead
VAIL GOLF COURSE/SPRADDLE CREEK January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$2,141,000
$6,994,821
226.7%
$825
$1,206
46.2%
201
160
-20.4%
$5,800,000
$18,500,000
219.0%
7
7
0.0%
93.5%
90.6%
-3.1%
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
coloradomicroreports.com
ALL OTHER VAIL AREAS January through June
2017
2018
Average Price
$1,407,130
$1,586,525
12.7%
$576
$618
7.3%
106
59
-44.3%
$4,380,000
$5,332,500
21.7%
27
20
-25.9%
95.0%
94.4%
-0.6%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
Booth Creek, Highland Meadows, Potato Ranch, Sandstone Ridge, Valley Ridge at Vail 2950 Booth Creek Drive, Vail
EAGLE-VAIL, AVON, & WILDRIDGE
11.2%
January through June Average Price
2017
$664,939
8.1%
$394
$438
11.2%
98
81
-17.3%
$4,306,000
$2,195,000
-49.0%
105
118
12.4%
95.8%
96.1%
0.3%
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
$615,383
Average Price per Square Foot
January through June 2018, the average price per square foot in Eagle-Vail, Avon, and Wildridge increased by 11.2% compared to that of 2017.
2018
All Properties
EAGLE & SURROUNDING AREAS January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$478,081
$495,500
3.6%
$222
$239
7.7%
78
84
7.7%
$1,400,000
$2,400,000
71.4%
150
146
-2.7%
97.8%
97.0%
-0.8%
Eagle, Eagle Ranch, Brush Creek, Gypsum, & Cotton Ranch/Chatfield 170 Sawmill Circle, Eagle
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
MID -YEAR 2018 • COLORADOMICROREPORTS.COM
MINTURN January through June Average Price
2017
$669,894
-9.8%
$331
$363
9.7%
134
87
-35.1%
$1,575,000
$912,500
-42.1%
8
8
0.0%
93.3%
95.1%
2.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$742,875
Average Price per Square Foot
Highest Price
2018
Minturn is ideally situated in between the resort communities of Vail and Beaver Creek, and is surrounded on three sides by the White River National Forest.
All Properties
MOUNTAIN STAR January through June
2017
2018
% Change
Average Price
-
-
-
Average Price per Square Foot
-
-
-
Average Days on Market
-
-
-
Highest Price
-
-
-
No Sales
No Sales
-
-
-
-
Properties Sold % Sold Price to List Price All Properties
56 Rose Crown, Mountain Star
WILDRIDGE/WILDWOOD January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$1,093,047
$918,435
-16.0%
$335
$317
-5.4%
116
115
-0.9%
$4,306,500
$1,502,000
-65.1%
16
27
68.8%
95.5%
96.3%
0.7%
68.8%
The number of properties sold in Wildridge/ Wildwood increased by 68.8% January through June 2018 compared to that of 2017.
All Properties
coloradomicroreports.com
IMAGINE.
Introducing CURATE by Sotheby ’s International Realty Sotheby’s International Realty is the first real estate brand to launch and implement a virtual staging augmented reality (AR) app:
DESIGN.
Curate by Sotheby’s International Realty. This mobile app brings a home’s virtual staging images from 2-D perception into augmented reality, allowing customers to visualize a house as their own before purchase, thereby curating the homebuying experience.
SHOP.
Available now for download in the Google Play Store and the iOS App Store.
WHY COLORADO?
NATIONAL PARKS: 4
MOUNTAIN RANGES: 7
AVERAGE DAYS OF SUNSHINE ANNUALLY: 300
SKI AREAS & RESORTS: 28
CRAFT BREWERIES: 350+
WE ARE.
THE VOICE OF COLORADO REAL ESTATE
477 Pilgrim Drive, Vail Valley
15
950 70
22,000
1
Exceptional Brand
The life you love.
livsothebysrealty.com | coloradomicroreports.com Based on Information from Vail Board of Realtors速. This representation is based in whole or in part on data supplied by Vail Board of Realtors速. Vail Board of Realtors速 does not guarantee nor is in any way responsible for its accuracy. Data maintained by Vail Board of Realtors速 may not reflect all real estate activity in the market.