MICROMARKET REPORT |
Vail Valley • 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
14 15
16
12 13
10 5
8 11 9
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: 51 Chateau Lane, Beaver Creek
coloradomicroreports.com
VAIL VALLEY market update The Vail Valley luxury housing market delivered some positive results in 2017. Not only did the continued 10-year-low in inventory cause upward pressure on desirable properties, contributing to the increased number of single family home 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 December 2017
January through December
statistics, to that of 2016, for single family homes and attached
Sold Listings (All Properties)
dwellings in Eagle County. The number of single family homes sold rose to 5.8% year-over-year, with average days on market decreasing 9.5%, from 137 days in 2016, to just 124 days in 2017, an excellent time frame for the resort market where homes typically stay on the market longer. A significant increase, is the 11.8% increase in average sales price year-over-year, demonstrating
2016
2017
% Change
1,365
1,376
0.8%
Sold Single Family
466
493
5.8%
Sold Condos/TH/DP
899
883
-1.8%
Average Days on Market
137
124
-9.5%
$1,009,996
$1,129,637
11.8%
94.0%
94.3%
0.3%
$1,378,644,308
$1,554,380,694
12.7%
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. An important statistic to note, is that private, (and sometimes, eye-popping) sales take place off-market (outside of MLS), that can influence the market. In 2017, two significant off-market sales took place; the sale of 332 Mill Creek Circle, that sold in August for $14,600,000, followed by the $28,700,000 sale of 395 Mill Creek Circle, that took place just days later. Combined, the two off-market sales totaled over $40M- a recordbreaking price, demonstrating 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 2018 • COLORADOMICROREPORTS.COM
ARROWHEAD January through December
2016
Average Price
$1,575,886
$1,546,208
-1.9%
$556
$559
0.5%
144
165
14.6%
$6,600,000
$3,910,000
-40.8%
42
51
21.4%
95.3%
94.9%
-0.4%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
% Change
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 December
2016
2017
Average Price
$3,376,714
$2,707,615
-19.8%
$598
$535
-10.5%
184
301
63.6%
$6,600,000
$3,910,000
-40.8%
7
12
71.4%
92.8%
95.4%
2.8%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
Single Family Homes 348 Cresta Road, Arrowhead
ARROWHEAD January through December
2016
2017
Average Price
$1,215,720
$1,188,853
-2.2%
$547
$567
3.7%
136
123
-9.6%
$2,750,000
$2,675,000
-2.7%
35
39
11.4%
95.4%
95.5%
0.1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes
% Change
3.7%
The average price per square foot for condos, townhomes, and duplexes in Arrowhead increased by 3.7% January through December 2017 compared to that of 2016.
coloradomicroreports.com
BACHELOR GULCH January through December
2016
2017
Average Price
$3,199,277
$4,295,412
34.3%
$848
$950
12.0%
254
262
3.1%
$8,350,375
$13,400,000
60.5%
31
34
9.7%
94.9%
96.0%
1.1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
All Properties 3243 Daybreak Ridge Road, Bachelor Gulch
38.5%
January through December 2017, the average price of single family homes in Bachelor Gulch increased by 38.5% compared to that of 2016.
BACHELOR GULCH January through December
2016
2017
Average Price
$6,366,313
$8,816,273
38.5%
$798
$1,018
27.6%
273
278
1.8%
$8,350,375
$13,400,000
60.5%
6
11
83.3%
93.7%
97.8%
4.4%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
Single Family Homes
BACHELOR GULCH 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.
January through December
2016
2017
Average Price
$2,195,704
$2,133,261
-2.8%
$860
$918
6.7%
250
254
1.6%
$4,800,000
$5,480,000
14.2%
25
23
-8.0%
95.0%
93.8%
-1.3%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
Condos, Townhomes, Duplexes
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
2018 • COLORADOMICROREPORTS.COM
BEAVER CREEK January through December
2016
2017
Average Price
$1,781,340
$2,141,378
20.2%
$729
$837.1
14.8%
278
224
-19.4%
$8,475,000
$10,700,000
26.3%
96
87
-9.4%
94.3%
94.4%
0.2%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
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 December
2016
2017
Average Price
$6,366,313
$8,816,273
38.5%
$798
$1,018
27.6%
273
278
1.8%
$8,350,375
$13,400,000
60.5%
6
11
83.3%
93.7%
97.8%
4.4%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
Single Family Homes
38.5%
January through December 2017, the average price for single family homes in Beaver Creek increased by 38.5% compared to that of 2016.
BEAVER CREEK January through December
2016
2017
Average Price
$1,642,110
$1,801,232
9.7%
$726
$814
12.1%
278
214
-23.0%
$6,735,000
$6,200,000
-7.9%
85
77
-9.4%
94.9%
94.9%
0.0%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
Condos, Townhomes, Duplexes 365 Borders Road, Beaver Creek
coloradomicroreports.com
CORDILLERA/VALLEY CLUB
9.1%
January through December
2016
2017
Average Price
$1,790,927
$1,727,906
-3.5%
$333
$335
0.6%
321
305
-5.0%
$3,690,000
$3,950,000
7.0%
44
48
9.1%
93.5%
93.6%
0.1%
Average Price per Square Foot Average Days on Market
The number of properties sold in Cordillera and Cordillera Valley Club increased by 9.1% January through December 2017 compared to that of 2016.
Highest Price Properties Sold % Sold Price to List Price
% Change
All Properties
CORDILLERA January through December
2016
2017
Average Price
$1,735,397
$1,694,927
-2.3%
$322
$321
-0.3%
336
337
0.3%
$3,690,000
$3,950,000
7.0%
36
41
13.9%
91.4%
92.5%
1.2%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
All Properties 45 Graham Road, Cordillera
CORDILLERA VALLEY CLUB January through December 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
2016
2017
% Change
$2,040,813
$1,921,071
-5.9%
$383
$420
9.7%
250
114
-54.4%
$2,800,000
$2,500,000
-10.7%
8
7
-12.5%
97.7%
93.5%
-4.3%
All Properties
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
2018 • COLORADOMICROREPORTS.COM
EDWARDS & HOMESTEAD January through December Average Price
2016
$665,895
3.7%
$319
$365
14.4%
88
70
-20.5%
$2,555,000
$2,598,500
1.7%
117
123
5.1%
96.4%
97.0%
0.7%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$642,230
Average Price per Square Foot
Highest Price
2017
All Properties 1145 Pilgrim Drive, Edwards
EDWARDS - LAKE CREEK VALLEY January through December Average Price
2016
$2,241,250
-37.0%
$400
$466
16.5%
470
305
-35.1%
$5,500,000
$4,900,000
-10.9%
3
12
300.0%
86.1%
92.1%
7.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$3,556,000
Average Price per Square Foot
Highest Price
2017
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 December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$1,060,400
$957,684
-9.7%
$320
$355
10.9%
111
133
19.8%
$2,475,000
$2,175,000
-12.1%
60
51
-15.0%
94.8%
95.2%
0.4%
All Properties 124 Spring Place, Edwards
coloradomicroreports.com
TOWN OF VAIL
26.2%
January through December
2016
Average Price
$1,542,501
$1,946,805
26.2%
$752
$887
18.0%
198
163
-17.7%
$17,500,000
$23,000,000
31.4%
292
261
-10.6%
93.1%
93.1%
0.0%
Average Price per Square Foot Average Days on Market
January through December 2017, the average price for the Town of Vail increased by 26.2% compared to that of 2016.
Highest Price Properties Sold % Sold Price to List Price
2017
% Change
All Properties
EAST VAIL January through December Average Price
2016
$831,655
4.8%
$484
$530
9.5%
106
73
-31.1%
$3,700,000
$3,750,000
1.4%
83
68
-18.1%
95.0%
94.7%
-0.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$793,494
Average Price per Square Foot
Highest Price
2017
All Properties 4040 Fall Line Drive, Vail
21.0%
The average price per square foot for West Vail and Cascade increased by 21.0% January through December 2017 compared to that of 2016.
WEST VAIL & CASCADE January through December
2016
2017
Average Price
$1,277,048
$1,687,605
32.1%
$542
$656
21.0%
184
129
-29.9%
$6,475,000
$5,912,000
-8.7%
47
46
-2.1%
95.3%
94.9%
-0.4%
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
2018 • COLORADOMICROREPORTS.COM
VAIL VILLAGE January through December Average Price Average Price per Square Foot
2016
$4,161,150
44.2%
$1,521
$1,761
15.8%
338
253
-25.1%
$13,500,000
$23,000,000
70.4%
40
40
0.0%
91.8%
93.3%
1.6%
Properties Sold % Sold Price to List Price
% Change
$2,885,588
Average Days on Market Highest Price
2017
15.8%
The average price per square foot in Vail Village increased by 15.8% January through December 2017 compared to that of 2016.
All Properties
LIONSHEAD January through December Average Price Average Price per Square Foot
2016
$2,673,605
15.0%
$1,263
$1,380
9.3%
344
405
17.7%
$17,500,000
$14,425,000
-17.6%
36
38
5.6%
91.3%
91.2%
-0.1%
Properties Sold % Sold Price to List Price
% Change
$2,325,756
Average Days on Market Highest Price
2017
All Properties 728 West Lionshead Circle #315, Lionshead
VAIL GOLF COURSE/SPRADDLE CREEK January through December
2016
2017
Average Price
$2,551,424
$2,217,462
-13.1%
$726
$851
17.2%
383
181
-52.7%
$14,692,500
$5,800,000
-60.5%
17
13
-23.5%
92.6%
93.8%
1.2%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
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 December
2016
Average Price
$1,188,463
$1,456,502
22.6%
$506
$568
12.3%
117
77
-34.2%
$4,675,000
$6,600,000
41.2%
69
59
-14.5%
93.4%
90.2%
-3.4%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
% Change
Booth Creek, Highland Meadows, Potato Ranch, Sandstone Ridge, Valley Ridge at Vail 781 Potato Patch Drive, Vail
10.0%
January through December 2017, the average price of Eagle-Vail, Avon, and Wildridge increased by 10.0% compared to that of 2016.
EAGLE-VAIL, AVON, & WILDRIDGE January through December Average Price
2016
$646,731
10.0%
$384
$402
4.7%
102
91
-10.8%
$2,204,500
$4,306,000
95.3%
273
248
-9.2%
96.0%
96.3%
0.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$587,769
Average Price per Square Foot
Highest Price
2017
All Properties
EAGLE & SURROUNDING AREAS January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$474,220
$479,886
1.2%
$213
$224
5.2%
62
67
8.1%
$1,400,000
$1,400,000
0.0%
288
328
13.9%
96.9%
97.6%
0.8%
Eagle, Eagle Ranch, Brush Creek, Gypsum, & Cotton Ranch 2360 Old Trail Road #B, Avon
MICROMARKET REPORT | Vail Valley livsothebysrealty.com
2018 • COLORADOMICROREPORTS.COM
MINTURN January through December Average Price
2016
$714,258
-1.2%
$309
$329
6.5%
146
122
-16.4%
$1,640,000
$1,575,000
-4.0%
13
14
7.7%
93.6%
93.9%
0.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$722,835
Average Price per Square Foot
Highest Price
2017
All Properties
6.5%
The average price per square foot for Minturn increased by 6.5% January through December 2017 compared to that of 2016.
MOUNTAIN STAR January through December Average Price
2016
$3,690,000
7.0%
$521
$742
42.4%
250
100
-60.0%
$3,450,000
$4,385,000
27.1%
1
2
100.0%
86.4%
95.3%
10.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$3,450,000
Average Price per Square Foot
Highest Price
2017
All Properties 56 Rose Crown, Mountain Star
WILDRIDGE/WILDWOOD January through December
2016
2017
Average Price
$808,304
$1,007,649
24.7%
$301
$324
7.6%
112
142
26.8%
$1,870,000
$4,306,000
130.3%
33
43
30.3%
96.2%
96.1%
-0.1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
24.7%
The average price for Wildridge/Wildwood increased by 24.7% January through December 2017 compared to that of 2016.
All Properties
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LIV SOTHEBY’S INTERNATIONAL REALTY
RESORT REPORT
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WHY COLORADO?
NATIONAL PARKS: 7
MOUNTAIN RANGES: 7
AVERAGE DAYS OF SUNSHINE ANNUALLY: 300
SKI RESORTS: 25
CRAFT BREWERIES: 312+
WE ARE.
THE VOICE OF COLORADO REAL ESTATE
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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.