MICROMARKET REPORT |
Vail Valley • Quarter 1 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: 201 Borders Road, Beaver Creek
coloradomicroreports.com
VAIL VALLEY market update The Vail Valley luxury housing market delivered some positive results in January through March 2018. Not only did the continued 10-yearlow in inventory cause upward pressure on desirable properties, contributing to the increased number of condo, townhome, and duplex 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.
EAGLE COUNTY
LIV Sotheby’s International Realty’s year-end Vail Valley Micro Market Report, compares January through March 2018 statistics,
January through March
to that of 2017, for single family homes and attached dwellings in
Sold Listings (All Properties)
Eagle County. The number of condos, townhomes, and duplexes
Sold Single Family
sold rose to 2.5% year-over-year, with average days on market decreasing 19.5%, from 159 days in January through March 2017, to just 128 days in 2018, an excellent time frame for the resort market where homes typically stay on the market longer. Average sales prices increased by 11.8% year-over-year, demonstrating
2017
2018
% Change
257
248
-3.5%
97
84
-13.4%
Sold Condos/TH/DP
160
164
2.5%
Average Days on Market
159
128
-19.5%
$1,291,204
$1,322,269
2.4%
95.0%
94.6%
-0.5%
$330,548,259
$327,922,737
-0.8%
Average Price % Sold Price to List Price Total Dollar Volume Sold
All Properties
consumers’ willingness to pay more for homes they truly desire, especially at the higher end of the market. Several eye-popping sales also took place in Quarter 1 2018 for LIV Sotheby’s International Realty; the $9,800,000 sale of 483 Beaver Dam Road in March 2018, followed by the $5,250,000 sale of 180 Daybreak Ridge Road #508 that took place the same month. 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 QUARTER 1 2018 • COLORADOMICROREPORTS.COM
ARROWHEAD January through March Average Price
2017
$1,319,000
-3.5%
$552
$581
5.3%
109
19
-82.6%
$2,833,875
$2,500,000
-11.8%
11
5
-54.5%
96.0%
98.2%
2.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$1,366,534
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 March Average Price
2017
-
-
$468
-
-
330
-
-
$2,833,875
-
-
2
No Sales
-
94.4%
-
-
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$2,354,438
Average Price per Square Foot
Highest Price
2018
Single Family Homes 12 Cabin Creek Lane, Arrowhead
ARROWHEAD January through March
2017
2018
Average Price
$1,147,000
$1,319,000
15.0%
$571
$581
1.8%
60
19
-68.3%
$2,056,000
$2,500,000
21.6%
9
5
-44.4%
95.5%
98.2%
2.8%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes
% Change
15.0%
The average price for condos, townhomes, and duplexes in Arrowhead increased by 15.0% January through March 2018 compared to that of 2017.
coloradomicroreports.com
BACHELOR GULCH January through March
2017
Average Price
$5,688,571
$2,850,000
-49.9%
$981
$919
-6.3%
160
224
40.0%
$13,400,000
$5,250,000
-60.8%
7
4
-42.9%
95.8%
98.9%
3.2%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
All Properties 3243 Daybreak Ridge Road, Bachelor Gulch
BACHELOR GULCH January through March 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
-
-
$1,092
-
-
118
-
-
$13,400,000
-
-
3
No Sales
-
96.8%
-
-
Properties Sold % Sold Price to List Price
% Change
$9,315,000
Average Days on Market Highest Price
2018
Single Family Homes
BACHELOR GULCH
2.5%
January through March 2018, the average price per square foot for condos, townhomes, and duplexes in Bachelor Gulch increased by 2.5% compared to that of 2017.
January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$2,968,750
$2,850,000
-4.0%
$897
$919
2.5%
192
224
16.7%
$5,275,000
$5,250,000
-0.5%
4
4
0.0%
94.3%
98.9%
4.8%
Condos, Townhomes, Duplexes
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
QUARTER 1 2018 • COLORADOMICROREPORTS.COM
BEAVER CREEK January through March Average Price
2017
$2,388,511
17.4%
$801
$736
-8.1%
258
168
-34.9%
$6,040,000
$13,500,000
123.5%
18
31
72.2%
95.1%
94.5%
-0.6%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$2,035,106
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 March Average Price
2017
$5,816,667
26.4%
$683
$680
-0.4%
425
191
-55.1%
$4,600,000
$13,500,000
193.5%
1
6
500.0%
94.9%
93.8%
-1.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$4,600,000
Average Price per Square Foot
Highest Price
2018
Single Family Homes
26.4%
January through March 2018, the average price for single family homes in Beaver Creek increased by 26.4% compared to that of 2017.
BEAVER CREEK January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$1,884,229
$1,565,754
-16.9%
$808
$749
-7.3%
249
162
-34.9%
$6,040,000
$3,765,000
-37.7%
17
25
47.1%
95.1%
94.9%
-0.2%
Condos, Townhomes, Duplexes 246 Strawberry Park Road, Beaver Creek
coloradomicroreports.com
26.4%
The average price of propeties sold in Cordillera and Cordillera Valley Club increased by 26.4% January through March 2018 compared to that of 2017.
CORDILLERA/VALLEY CLUB January through March
2017
Average Price
$1,838,429
26.4%
$330
$345
4.5%
318
222
-30.2%
$2,112,500
$2,600,000
23.1%
9
7
-22.2%
92.4%
96.2%
4.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$1,454,944
Average Price per Square Foot
Highest Price
2018
All Properties
CORDILLERA January through March
2017
Average Price
$1,774,000
27.6%
$321
$331
3.1%
341
216
-36.7%
$2,000,000
$2,600,000
30.0%
7
6
-14.3%
92.1%
96.2%
4.5%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$1,390,286
Average Price per Square Foot
Highest Price
2018
All Properties 318 Kicking Horse Trail, Cordillera
CORDILLERA VALLEY CLUB The Club at Cordillera offers its members an unparalleled lifestyle experience, with access to world-class golfing, exquisite dining, and lively events.
January through March
2017
Average Price
$1,681,250
$2,225,000
32.3%
$362
$428
18.2%
239
255
6.7%
$2,112,500
$2,225,000
5.3%
2
1
-50.0%
91.6%
92.9%
1.4%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
All Properties
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
QUARTER 1 2018 • COLORADOMICROREPORTS.COM
EDWARDS & HOMESTEAD January through March Average Price
2017
$570,183
12.5%
$368
$375
1.9%
44
60
36.4%
$1,645,000
$1,150,000
-30.1%
18
18
0.0%
97.0%
95.1%
-2.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$506,861
Average Price per Square Foot
Highest Price
2018
All Properties 460 Rolling Hills Drive, Edwards
EDWARDS - LAKE CREEK VALLEY January through March Average Price
2017
-
-
$440
-
-
245
-
-
$3,650,000
-
-
2
No Sales
-
94.8%
-
-
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$2,650,000
Average Price per Square Foot
Highest Price
2018
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 March
2017
Average Price
$1,013,500
$859,670
-15.2%
$366
$352
-3.8%
362
80
-77.9%
$1,609,000
$1,150,000
-28.5%
8
11
37.5%
94.9%
94.9%
0.0%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
All Properties 157 Pilgrim Drive, Edwards
coloradomicroreports.com
TOWN OF VAIL
13.0%
January through March
2017
2018
Average Price
$2,281,301
$2,578,754
13.0%
$898
$1,081
20.4%
235
209
-11.1%
$23,000,000
$12,750,000
-44.6%
60
58
-3.3%
97.0%
92.5%
-4.6%
Average Price per Square Foot Average Days on Market
January through March 2018, the average price for the Town of Vail increased by 13.0% compared to that of 2017.
Highest Price Properties Sold % Sold Price to List Price
% Change
All Properties
EAST VAIL January through March
2017
Average Price
$1,149,867
$1,355,200
17.9%
$528
$583
10.4%
187
124
-33.7%
$3,750,000
$4,420,000
17.9%
15
10
-33.3%
95.6%
95.2%
-0.4%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
All Properties 781 Potato Patch Drive, Vail
2.0%
The percent sold price to list price for West Vail and Cascade increased by 2.0% January through March 2018 compared to that of 2017.
WEST VAIL & CASCADE January through March
2017
2018
Average Price
$2,114,305
$1,218,000
-42.4%
$727
$509
-30.0%
162
300
85.2%
$5,500,000
$2,550,000
-53.6%
10
3
-70.0%
93.7%
95.6%
2.0%
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
QUARTER 1 2018 • COLORADOMICROREPORTS.COM
VAIL VILLAGE January through March
2017
Average Price
$4,873,136
$4,020,000
-17.5%
$1,765
$1,814
2.8%
245
313
27.8%
$23,000,000
$12,750,000
-44.6%
11
7
-36.4%
91.1%
94.9%
4.1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
2.8%
The average price per square foot in Vail Village increased by 2.8% January through March 2018 compared to that of 2017.
All Properties
LIONSHEAD January through March Average Price Average Price per Square Foot
2017
$2,925,136
-17.7%
$1,410
$1,396
-1.0%
912
303
-66.8%
$12,425,000
$10,500,000
-15.5%
6
22
266.7%
93.0%
91.9%
-1.2%
Properties Sold % Sold Price to List Price
% Change
$3,553,833
Average Days on Market Highest Price
2018
All Properties 728 West Lionshead Circle #625, Lionshead
VAIL GOLF COURSE/SPRADDLE CREEK January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$1,308,500
$6,096,875
365.9%
$664
$1,419
113.7%
83
5
-94.0%
$1,900,000
$6,100,000
221.1%
2
2
0.0%
92.7%
96.0%
3.5%
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 March
2017
2018
Average Price
$1,370,147
$1,976,786
44.3%
$591
$650
10.0%
85
82
-3.5%
$4,380,000
$5,125,000
17.0%
17
7
-58.8%
94.4%
93.8%
-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 781 Potato Patch Drive, Vail
10.0%
January through March 2018, the number of properties sold in Eagle-Vail, Avon, and Wildridge increased by 10.0% compared to that of 2017.
EAGLE-VAIL, AVON, & WILDRIDGE January through March Average Price
2017
$636,130
-7.4%
$399
$453
13.5%
137
89
-35.0%
$4,306,000
$1,502,000
-65.1%
40
44
10.0%
95.5%
96.2%
0.8%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$687,297
Average Price per Square Foot
Highest Price
2018
All Properties
EAGLE & SURROUNDING AREAS January through March
2017
Average Price
$509,050
$466,387
-8.4%
$225
$215
-4.4%
90
74
-17.8%
$1,400,000
$14,000,000
900.0%
52
58
11.5%
98.6%
95.6%
-3.0%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
Eagle, Eagle Ranch, Brush Creek, Gypsum, & Cotton Ranch/Chatfield 205 Robins Egg Lane, Eagle
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
QUARTER 1 2018 • COLORADOMICROREPORTS.COM
MINTURN January through March Average Price
2017
$645,413
-6.7%
$380
$371
-2.4%
127
157
23.6%
$1,060,000
$810,000
-23.6%
4
4
0.0%
95.0%
95.5%
0.5%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$691,750
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 March
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 March
2017
Average Price
$1,190,107
$792,182
-33.4%
$362
$326
-9.9%
76
93
22.4%
$4,306,000
$1,502,000
-65.1%
7
11
57.1%
95.4%
96.0%
0.6%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
57.1%
The number of properties sold in Wildridge/ Wildwood increased by 57.1% January through March 2018 compared to that of 2017.
All Properties
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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.