MICROMARKET REPORT
VAIL VALLEY | YEAR END 2020
VAIL VALLEY
TOWNS & NEIGHBORHOODS
19
17 18
14 15
16
12 13
10 5
8 11 9
4
3
1
2
7
6
Pictured on cover: 670 Forest Road, Vail
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
Home to some of the most popular ski resorts as well as a variety of protected forests and natural spaces, the Vail Valley is one of Colorado’s most sought-after destinations for tourists and homebuyers alike. This community offers the epitome of mountain living while still affording its residents the opportunity to experience fine dining, shopping, and an array of exciting music and cultural events. Located 100 miles west of Denver and centrally located near other popular resort towns, the Vail Valley enjoys easy access to many of the best attractions that the state has to offer. The resort lifestyle paired with the community’s convenience and access to outdoor recreation spaces make the Vail Valley a favorite among buyers and sellers in the real estate market. 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, in 2020 compared to 2019. Total sales volume for Eagle County grew by a remarkable 50.4%. This dramatic increase is in part due to the 24.3% rise in the number of listings sold, totaling 1,679 sales, and the 21% increase in average sold price, which rose to January through December 2019 2020 % Change $1,574,004 during 2020.
EAGLE COUNTY 1,351
1,679
24.3%
Sold Single Family
436
554
27.1%
Sold Condos/TH/DP
915
1,125
23.0%
Average Days on Market
121
114
-5.8%
$1,300,483
$1,574,004
21.0%
96.6%
97.1%
0.6%
$1,756,953,363
$2,642,754,329
50.4%
Sold Listings (All Properties)
Several neighborhoods withing the Vail Valley experienced increases in the number of listings sold last year. Most notably, Bachelor Gulch had 160% rise in listings sold for all property types. Within this community, single family home sales climbed an impressive 250% and condominium, townhomes, and duplex sales grew by 142.9%. The Town of Vail also had a boost of residential sales for all property types, increasing 23.9%.
Average Sold Price % Sold Price to List Price Total Sales Volume
All Properties
The average sold prices in many areas of the Vail Valley experienced upward trends thanks to increased demand for homes in this resort community. Single family homes in Beaver Creek sold an average of 59.2% higher prices than they did in 2019, bringing the sold price to $5,579,000. The average sold price for all property types in Vail Village rose from $4,605,070 in 2019 to $6,395,461 in 2020, a 38.9% increase. Increased demand is often accompanied by a decline in the average days on market since buyers are eager to get their hands on homes. Throughout 2020, several neighborhoods within the Vail Valley saw a decrease in the average amount of time listings spent on the market. Homes in the Town of Vail spent an average of 142 days on the market last year, a 7.2% dip from 2019. Mountain Star, a gated development known for its tranquility and mountain views, experienced a 57.6% decrease in average days on market, from 543 days in 2019 to 230 days in 2020. Although 2020 presented the Vail Valley with challenges related to COVID-19, consumers continue to see the extensive value this community has. The unique mixture of mountain activities and luxurious amenities positions the Vail Valley for another productive year of real estate activity.
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 Vail Valley Valley MICROMARKET REPORT REPORT || Vail
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JANUARY -- DECEMBER 2020 •• COLORADOMICROREPORTS.COM JANUARY DECEMBER 2020 COLORADOMICROREPORTS.COM
VAIL Nestled between the Gore and Sawatch Mountain Ranges lies the town of Vail, Colorado, located just 100 miles west of Denver. Established in 1966, Vail was founded by former members of the Army’s 10th Mountain Division, a military branch who trained in the Vail Valley during World War II. Vail has since grown into one of the most famous alpine destinations in the world, hosting more open space than any other resort community in the United States. 350,000 acres of White River National Forrest surrounds the resort town creating a natural wonderland that attracts outdoor enthusiasts globally. Year-round activities can be enjoyed in the Town of Vail. Winter season provides world-class skiing on Vail Mountain’s 5,289 acres of skiable terrain, including seven legendary back bowls. Additional activities include ice skating, snow shoeing and Nordic skiing. In the summertime one can enjoy numerous scenic nature trails for hiking, mountain biking, and horseback riding. Families can take in the majestic views of the Gore Range with a gondola ride, and experience Vail Mountain’s Epic Discovery which includes interpretive trails and the exciting forest flyer mountain coaster. Golf enthusiasts can partake in a challenging round at one of Vail’s several golf courses while being surrounded by the breathtaking views of the surrounding Holy Cross Wilderness area. For those looking to stay in town, Vail offers a variety of boutique shops, luxury spas and world-class dining options to enjoy. With plenty of activities to enjoy both in the winter and summer, Vail is the ideal resort community for those who have chosen to call the Town of Vail their home.
Vail Mountain has over 5,200
8,150 Feet
The Vail Valley offers over 300
acres of skiable terrain
above sea level
days of sunshine per year
coloradomicroreports.com
TOWN OF VAIL January through December
2019
2020
% Change
$2,169,839
$2,473,778
14.0%
$933
$1,016
8.9%
153
142
-7.2%
$20,750,000
$29,750,000
43.4%
314
389
23.9%
95.2%
96.0%
0.8%
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
EAST VAIL
15.8%
January through December Average Price Average Price per Square Foot Average Days on Market
The average price for all properties in the
Highest Price
neighborhood of East Vail increased by 15.8%
Properties Sold
from January through December in 2020
% Sold Price to List Price
compared to that of 2019.
2019
2020
% Change
$1,092,416
$1,265,462
15.8%
$628
$673
7.2%
70
72
2.9%
$4,100,000
$4,800,000
17.1%
67
100
49.3%
96.5%
98.0%
1.5% 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
2019
2020
% Change
$1,434,847
$1,558,608
8.6%
$600
$632
5.3%
127
116
-8.7%
$5,151,000
$5,378,000
4.4%
71
82
15.5%
95.5%
95.6%
0.1%
All Properties - Includes West Vail North to West Vail South, Highland Meadows and Cascade
Lodge at Vail Penthouse #411, Vail Village
MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com
JANUARY - DECEMBER 2020 • 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
23.8%
2019
2020
% Change
$4,605,070
$6,395,461
38.9%
$1,867
$2,082
11.5%
391
298
-23.8%
The average days on market for all properties
$19,000,000
$29,750,000
56.6%
in the Vail Village decreased by 23.8%
47
65
38.3%
from January through December in 2020
93.6%
92.7%
-1.0%
compared to that of 2019.
All Properties
LIONSHEAD January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$2,327,828
$2,571,877
10.5%
$1,394
$1,492
7.0%
157
197
25.5%
$8,500,000
$11,200,000
31.8%
39
49
25.6%
95.6%
95.8%
0.2% All Properties
Ritz-Carlton Residences #517, Vail
VAIL GOLF & 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
2019
2020
% Change
One of Vail’s most prestigious
$4,677,299
$3,859,570
-17.5%
gated communities, Spraddle
$1,103
$1,165
5.6%
Creek Estates, offers
149
131
-12.1%
unparalleled views of Vail
$17,250,000
$11,950,000
-30.7%
Mountain and is bordered
21
16
-23.8%
by the White River National
92.3%
95.7%
3.7%
Forest.
All Properties
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
2019
2020
% Change
$837,177
$826,347
-1.3%
$401
$469
17.0%
142
148
4.2%
$1,455,000
$1,800,000
23.7%
18
23
27.8%
94.2%
96.6%
2.5% All Properties
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
2019
2020
% Change
$4,365,000
$6,010,000
37.7%
Mountain Star is a gated
$633
$762
20.4%
community that provides
543
230
-57.6%
wide-open space and
$6,500,000
$8,530,000
31.2%
stunning views of the
3
4
33.3%
surrounding mountains.
85.5%
93.3%
9.2%
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
587 Paintbrush, Avon
2019
2020
% Change
$850,106
$1,176,376
38.4%
$334
$371
11.1%
100
116
16.0%
$2,900,000
$2,825,000
-2.6%
42
42
0.0%
96.9%
97.2%
0.3% All Properties
MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com
JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM
BEAVER CREEK Beaver Creek Resort is known for its world-class events and stunning beauty, delivering an unmatched, unparalleled Colorado mountain experience with upscale art galleries, high-end boutiques, premium spa and restaurant options, as well as some of the best skiing the Colorado Rocky Mountains have to offer. Located in the heart of this gated alpine community, Beaver Creek’s charming pedestrian plaza is home to many events and festivals throughout the year. The Vilar Performing Arts Center provides an intimate, acoustical venue for yearround live entertainment including Grammy award-winning artists, family extravaganzas, jazz music events, concerts, and celebrated theater performances. Activities are plentiful in Beaver Creek year-round. Home to the infamous Birds of Prey downhill racecourse, a formidable stop on the Men’s Alpine FIS Ski World Cup, Beaver Creek provides over 1,800 acres and 150 trails to explore on Grouse Mountain, Rose Bowl and the Larkspur Bowl. Experience an open-air sleigh ride up Beaver Creek Mountain, ice skating on the Beaver Creek Ice Rink surrounded by cozy firepits and inviting seating areas or snowshoeing and cross-country skiing on groomed and rustic trails at McCoy Park. Summertime also provides plenty of outdoor activities to enjoy. Take a scenic chairlift ride on the Centennial Express Lift to the top of Beaver Creek Mountain, where you can hike numerous trails and take in in the stunning views of the Gore Range and the village below. Discover miles of rolling, single-track mountain biking trails for all ability levels, or experience the beauty of Beaver Creek on horseback. The Eagle River and Colorado River offer Gold-Medal fly-fishing options and rafting adventures. Whether you enjoy speeding down the mountain on skis or a mountain bike, or spending an afternoon shopping and experiencing fine dining, Beaver Creek Resort provides a quintessential Colorado mountain experience in a luxury setting.
Over 1,800 acres of skiable
8,100 Feet
Located 30 miles from Eagle
terrain
above sea level
County Regional Airport (EGE)
coloradomicroreports.com
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
2019
2020
% Change
$1,774,130
$2,057,861
16.0%
$769
$816
6.1%
186
183
-1.6%
$7,400,000
$12,375,000
67.2%
110
109
-0.9%
94.2%
95.9%
1.9%
22 Strawberry Park Road, Beaver Creek
All Properties
BEAVER CREEK January through December Average Price
2019
2020
% Change
Nestled in the White
$3,503,819
$5,579,000
59.2%
River National Forrest,
$632
$885
40.0%
Beaver Creek provides the
360
413
14.7%
luxurious amenities of a
$7,400,000
$12,375,000
67.2%
modern resort while having
13
10
-23.1%
a relaxing environment of
92.1%
95.1%
3.2%
an alpine village.
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Single Family Homes
10.4%
BEAVER CREEK January through December Average Price Average Price per Square Foot
The average price for condominiums,
Average Days on Market
townhomes, duplexes, and triplexes increased
Highest Price
by 10.4% from January through December in
Properties Sold
2020 compared to that of 2019.
% Sold Price to List Price
2019
2020
% Change
$1,542,316
$1,702,190
10.4%
$787
$809
2.8%
163
160
-1.8%
$6,316,666
$8,510,000
34.7%
97
99
2.1%
94.4%
96.0%
1.7%
Condominiums, Townhomes, Duplexes and Triplexes
MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com
JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM
BACHELOR GULCH January through December
2019
2020
% Change
$2,754,620
$3,374,766
22.5%
$898
$974
8.5%
235
152
-35.3%
$10,200,000
$12,995,000
27.4%
25
65
160.0%
95.0%
95.6%
0.6%
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price All Properties
602 Bachelor Ridge Road, Bachelor Gulch
BACHELOR GULCH Charmingly tucked away
January through December
between Beaver Creek and
Average Price
Arrowhead, Bachelor Gulch
Average Price per Square Foot
offers private mountainside
Average Days on Market
living and access to a five-
Highest Price
star luxury resort-hotel,
Properties Sold
The Ritz-Carlton.
% Sold Price to List Price
2019
2020
% Change
$7,648,750
$7,634,821
-0.2%
$947
$935
-1.3%
111
298
168.5%
$10,200,000
$12,995,000
27.4%
4
14
250.0%
97.7%
94.7%
-3.1%
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
142.9%
2019
2020
% Change
$1,822,404
$2,204,539
21.0%
$889
$985
10.8%
258
111
-57.0%
The number of condos, townhomes, duplexes,
$3,250,000
$5,500,000
69.2%
and triplexes sold in the village of Bachelor
21
51
142.9%
Gulch increased by 142.9% in January through
94.5%
95.9%
1.4%
December in 2020 compared to that of 2019.
Condominiums, Townhomes, Duplexes and Triplexes
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
2019
2020
% Change
$1,955,472
$2,321,351
18.7%
$600
$674
12.3%
135
$159
17.8%
$9,300,000
$13,500,000
45.2%
55
86
56.4%
95.2%
95.8%
0.6% All Properties
30 Mountain Retreat Court, Arrowhead
ARROWHEAD January through December Average Price Average Price per Square Foot Average Days on Market Highest Price
2019
2020
% Change
$3,498,906
$4,418,409
26.3%
$627
$668
6.5%
169
226
33.7%
$9,300,000
$13,500,000
45.2%
16
22
37.5%
95.1%
94.3%
-0.9%
Properties Sold % Sold Price to List Price
Arrowhead, the westernmost village of Beaver Creek, offers skiers quick access to beginner and intermediate terrain on Beaver Creek Mountain.
Single Family Homes
21.0%
ARROWHEAD January through December Average Price Average Price per Square Foot
The average price for condos, townhomes,
Average Days on Market
duplexes, and triplexes in the village of
Highest Price
Arrowhead increased by 21.0% from January
Properties Sold
through December in 2020 compared to that
% Sold Price to List Price
of 2019.
2019
2020
% Change
$1,322,269
$1,600,487
21.0%
$588
$675
14.8%
121
136
12.4%
$3,392,500
$3,500,000
3.2%
39
64
64.1%
95.3%
96.3%
1.1%
Condominiums, Townhomes, Duplexes and Triplexes
MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com
JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM
EDWARDS Edwards is a mountain town defined by world-class recreation with an authentic small-town feel. Established in 1984, the unincorporated town is nestled in the heart of the Vail Valley just five miles west of Beaver Creek, 15 miles west of Vail, and 110 miles west of Denver. Ideally situated below the Sawatch Mountain Range with the Eagle River running through it, Edwards is a scenic place to live, work, and play. On any given day you will find residents strolling along the Riverwalk, an area located on the Eagle River that is comprised of boutique shops, restaurants, local businesses, and a movie theater. Summer days are enjoyed with concerts at the Edwards Riverwalk Backyard Amphitheater, bike riding on the Eagle Valley recreational path, fly fishing, and rafting adventures. For the winter season, skiers and snowboarders have easy access to Beaver Creek Mountain from nearby Arrowhead, one of the three distinct Villages of Beaver Creek. What makes Edwards truly unique is its neighborhoods, some located within the Edwards Metropolitan District, and others within a district of their own. All of these neighborhoods encompass the greater Edwards area and offer a distinct sense of place, with natural beauty and amenity-rich attractions at their core.
Edwards is an unincorporated
7,226 Feet
Home to the Club at Cordillera with
town, established in 1984
above sea level
three world-class golf courses
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
2019
2020
% Change
$743,108
$764,316
2.9%
$366
$385
5.2%
77
50
-35.1%
$3,700,000
$1,950,000
-47.3%
97
94
-3.1%
97.6%
98.3%
0.7% All Properties
292 Aspen Meadows Road, Edwards
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
2019
2020
% Change
$2,907,272
$2,496,923
-14.1%
$504
$524
4.0%
158
138
-12.7%
$6,400,000
$4,020,000
-37.2%
11
13
18.2%
93.9%
96.1%
2.3%
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
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
2019
2020
% Change
$1,171,512
$1,375,097
17.4%
$385
$406
5.5%
91
119
30.8%
$2,175,000
$3,375,000
55.2%
49
70
42.9%
96.6%
96.3%
-0.2% All Properties
MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com
JANUARY - DECEMBER 2020 • 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
2019
2020
% Change
$2,341,811
$2,221,367
-5.1%
$409
$396
-3.2%
230
192
-16.5%
$15,454,000
$4,960,000
-67.9%
58
92
58.6%
93.5%
95.5%
2.2%
All Properties – Includes Cordillera Valley Club, Cordillera Divide, Cordillera Ranch, Cordillera Summit, Colorow Squaw Creek
36 Pinnacle Point, Cordillera Valley Club
CORDILLERA January through December
The Club at Cordillera
Average Price
offers its members an
Average Price per Square Foot
unparalleled lifestyle
Average Days on Market
experience, with access
Highest Price
to world-class golfing,
Properties Sold
exquisite dining, and lively
% Sold Price to List Price
events.
2019
2020
% Change
$2,136,430
$2,032,648
-4.9%
$368
$361
-1.9%
273
209
-23.4%
$15,454,000
$4,700,000
-69.6%
41
77
87.8%
92.7%
95.3%
2.8%
All Properties – Includes Cordillera Divide, Cordillera Ranch, Cordillera Summit, Colorow Squaw Creek
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
2019
2020
% Change
$2,837,142
$3,190,126
12.4%
$509
$575
13.0%
128
105
-18.0%
$4,650,000
$4,960,000
6.7%
17
15
-11.8%
95.4%
97.0%
1.6%
13.0%
The average price per square foot for all
properties in Cordillera Valley Club increased by 13.0% from January through December in 2020 compared to that of 2019.
All Properties
coloradomicroreports.com
EAGLE-VAIL, AVON & WILDRIDGE
Avon is nestled at the base
January through December
of Beaver Creek Resort and features Harry A.
Average Price
Nottingham Park which
Average Price per Square Foot
provides a variety of
Average Days on Market
activities, open space, and
Highest Price
trails to enjoy year round,
Properties Sold
including Nottingham Lake.
% Sold Price to List Price
2019
2020
% Change
$768,371
$926,442
20.6%
$469
$548
16.8%
90
84
-6.7%
$2,900,000
$3,500,000
20.7%
235
298
26.8%
97.0%
97.9%
0.9% 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
19.8%
2019
2020
% Change
$537,527
$644,196
19.8%
$253
$270
6.7%
82
64
-22.0%
$3,999,000
$2,500,000
-37.5%
The average price for all properties in Eagle and
316
367
16.1%
Gypsum increased by 19.8% from January through
98.9%
99.2%
0.4%
December in 2020 compared to that of 2019.
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
208 Shooting Star, Mountain Star
2019
2020
% Change
$1,540,749
$1,488,041
-3.4%
$617
$634
2.8%
116
135
16.4%
$20,750,000
$7,100,000
-65.8%
77
88
14.3%
95.3%
95.9%
0.6%
All Properties - Includes Booth Creek, Potato Patch, Sandstone, Lionsridge, Valley Ridge at Vail (Now Buffehr Creek), Highland Meadows
MICROMARKET REPORT | Vail Valley resorts.livsothebysrealty.com
JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM
The life you love.
resorts.livsothebysrealty.com | coloradomicroreports.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 resorts.livsothebysrealty.com
JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM