Vail Valley Micro Market Reports | Quarter 1 2021

Q1 2021

Micro Market Report VA I L VA L L E Y

165 Forest Road, Vail

51 Chateau Lane, Beaver Creek

Vail Valley MARKET UPDATE

Vail Valley, located in Eagle County and nestled within the White River National Forest, is an easy 100-mile drive west on I-70 from Denver, and easily accessible from Eagle County Regional Airport. That, along with its reputation for worldclass skiing at Beaver Creek and Vail, featuring a European alpine ambiance, makes the Vail Valley a must-see stop on Colorado travel itineraries.

In addition to the abundance of outdoor activities the Vail Valley offers, residents and visitors also enjoy luxury amenities here like fine dining, boutique shopping, golfing, and a toptier surgical center. With home buyers placing a greater emphasis on quality of life in 2021, resort communities like Vail and Beaver Creek continue to generate a surge in market activity.

LIV Sotheby’s International Realty produces a Micro Market Report focused on the Eagle County market and its performance in the first quarter of 2021 compared to the first quarter of 2020. Total sales volume was up 80.4% this quarter, rising from $328,339,496 to $592,470,067 and proving that home buyers are not slowing down when it comes to purchasing a slice of mountain paradise. The area saw an overall 54.3% increase in the number of sold listings compared to the same months in 2020.

While the average price of properties dropped in areas like East Vail and Vail Village this quarter, other neighborhoods performed extremely well. Vail Golf, for example, showed a 400% gain in properties sold, jumping from 1 to 5 compared to 2020. All sold property prices in Cascade, Edwards & Homestead, Edwards-Lake Creek Valley, and Bachelor Gulch increased as well. Likewise, single family homes in Beaver Creek, Arrowhead, and other Vail Areas saw large increases in the average price of their sold homes.

More Vail Valley homes are not only being sold, they’re spending far fewer days on the market. With the exception of Minturn and Beaver Creek, every Vail Valley neighborhood

saw a decrease in the number of days it took to sell a property, with homes in Eagle-Vail & Avon, Wildridge/Wildwood, and Edwards/Singletree selling faster than ever, at 65%, 73.6%, and 95.2% faster, respectively. As consumers continue to relocate and purchase mountain homes in areas where lifestyle is their top priority, properties in the Vail Valley will continue to reap the real estate rewards.

This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Arrowhead, Avon, Bachelor Gulch, Beaver Creek, Brush Creek, Cordillera, Cordillera Valley Club, Eagle, Eagle Ranch, Eagle-Vail, East Vail, Edwards – Lake Creek Valley, Edwards – Singletree, Edwards & Homestead, Gypsum, Lionshead, Minturn, Mountain Star, Vail Golf Course & Spraddle Creek, Vail Village, West Vail & Cascade, and Wildridge/Wildwood.

VAIL VALLEY January through March

2020

2021

% Change

219

338

54.3%

61

88

44.3%

Sold Condos/TH/DP

158

250

58.2%

Average Days on Market

151

111

-26.5%

$1,499,267

$1,752,870

16.9%

96.6%

97.1%

0.5%

$328,339,496

$592,470,067

80.4%

Sold Listings (All Properties) Sold Single Family

Average Sold Price % Sold Price to List Price Total Sales Volume

Eagle County – All Properties

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.

coloradomicroreports.com

VAIL VALLEY

NEIGHBORHOODS

1.

East Vail

7. Minturn

13. Wildridge/Wildwood

18. Cordillera Valley Club

2. Vail Golf Course &

8. Eagle-Vail

14. Arrowhead

19. Cordillera

3. Spraddle Creek

9. Avon

15. Edwards - Singletree

20. Eagle, Eagle Ranch,

4. Vail Village

10. Beaver Creek

16. Edwards & Homestead

5. Lionshead

11. Mountain Star

17. Edwards - Lake Creek

6. West Vail & Cascade

12. Bachelor Gulch

Brush Creek & Gypsum

Valley

19

17 18

14 15

16

12 13

10 5

8 11 9

4

3

2

1

7

6

MICROMARKET REPORT | Vail Valley livsothebysrealty.com

JANUARY - MARCH 2021 • COLORADOMICROREPORTS.COM

TOWN OF VAIL

30.2%

January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

The average days on market in the Town of Vail decreased by 30.2% January through March 2021 compared to that of 2020.

2021

% Change

$2,412,824

$1,986,098

-17.7%

$1,058

$1,182

11.7%

222

155

-30.2%

$16,750,000

$7,250,000

-56.7%

59

87

47.5%

95.7%

96.3%

0.5%

All Properties - Includes East Vail to West Vail South

January through March Average Sold Price

EAST VAIL

2020

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$1,484,272

$1,159,166

-21.9%

$662

$759

14.7%

227

157

-30.8%

$3,950,000

$2,925,000

-25.9%

11

12

9.1%

96.9%

98.4%

1.6%

All Properties

VAIL GOLF

January through March

Located at 8,200 feet in elevation,

Average Sold Price

the Vail Golf & Nordic Clubhouse is

Average Price per Square Foot

surrounded by the majestic and rugged

Average Days on Market

Gore Mountain Range, offering a variety

Highest Price

of outdoor activities to experience in both summer and winter.

Properties Sold % Sold Price to List Price

2020

2021

% Change

$740,000

$11,225,000

1416.9%

$599

$878

46.6%

196

182

-7.1%

$740,000

$4,300,000

481.1%

1

5

400.0%

96.2%

96.6%

0.4%

All Properties

Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$5,983,653

$2,436,027

-59.3%

$2,050

$1,729

-15.7%

429

217

-49.4%

$16,750,000

$6,400,000

-61.8%

13

22

69.2%

92.3%

94.1%

1.9%

All Properties

49.4%

VAIL VILLAGE

January through March

The average days on market in Vail Village decreased by 49.4% January through March 2021 compared to that of 2020.

January through March

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2021

% Change

$2,454,375

$2,453,852

-0.02%

$1,536

$1,617

5.3%

253

158

-37.5%

$4,250,000

$4,650,000

9.4%

8

17

112.5%

97.9%

96.1%

-1.9%

LIONSHEAD

Average Sold Price

2020

All Properties

January through March

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2021

% Change

$2,076,666

$3,187,333

53.5%

$1,081

$1,153

6.7%

179

166

-7.3%

small community of luxury homes and the

$2,200,000

$7,250,000

229.5%

Grand Hyatt Vail. Featuring a full-service

3

6

100.0%

92.8%

95.6%

3.0%

All Properties

Continuing down the Valley, Cascade Village is slightly removed from the bustling town center and boasts its own

spa and other luxury amenities, the Grand Hyatt Vail is situated right off of the Gore Creek, and has direct lift access up Vail Mountain to over 5,200 acres of skiable terrain.

CASCADE

Average Sold Price

2020

WEST VAIL

January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$1,035,106

$1,060,400

2.4%

$498

$566

13.7%

81

70

-13.6%

$2,365,000

$2,550,000

7.8%

11

10

-9.1%

96.8%

97.1%

0.3%

MINTURN

ALL OTHER VAIL AREAS

All Properties - Includes Areas: West Vail, North to West Vail South, Highland Meadows

27.0% The average price per square foot in all other Vail areas increased by 27.0% January through March 2021 compared to that of 2020.

January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

January through March

like Eagle county could mean living in the

Average Sold Price

shadows of its neighbors, but Minturn has

Average Price per Square Foot

town is one of the oldest in the area, being

Average Days on Market

incorporated in 1904. To this day, the town

Highest Price

reflects the unique and eclectic feel that

Properties Sold

comes from bringing together people from

% Sold Price to List Price

diverse locations.

2021

% Change

$970,461

$1,573,093

62.1%

$575

$730

27.0%

133

110

-17.3%

$2,365,000

$4,200,000

77.6%

13

16

23.1%

96.5%

97.2%

0.7%

All Properties - Includes Areas: Booth Creek, Potato Patch, Sandstone Lionsridge, Valley Ridge at Vail (Now Buffehr Creek), Highland Meadows & Spraddle Creek

Being a small town in a heavy resorted area

carved out its own distinct identity. The

2020

2020

2021

% Change

$736,500

$783,571

6.4%

$391

$430

10.0%

64

217

239.1%

$918,000

$940,000

2.4%

4

7

75.0%

96.0%

96.4%

0.3%

All Properties

Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$2,095,100

$2,584,544

23.4%

$782

$918

17.4%

160

186

16.3%

$6,500,000

$10,950,000

68.5%

19

49

157.9%

94.8%

95.8%

1.1%

BEAVER CREEK

January through March

All Properties

Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$3,833,333

$5,752,111

50.1%

$631

$906

43.6%

140

381

172.1%

$6,500,000

$10,950,000

68.5%

3

9

200.0%

92.7%

96.6%

4.2%

Single Family Homes

43.6% The average price per square foot in Beaver Creek increased by 43.6% January through

BEAVER CREEK

January through March

March 2021 compared to that of 2020.

Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$1,769,181

$1,871,842

5.8%

$810

$920

13.6%

the best of resort living. Nestled in the

164

143

-12.8%

White River National Forrest, Beaver

$6,000,000

$6,800,000

13.3%

Creek provides the luxurious amenities of

16

40

150.0%

95.2%

95.7%

0.5%

Condominiums, Townhomes, Duplexes and Triplexes

Beaver Creek, Colorado is considered

a modern resort while having a relaxing environment of an alpine village.

BEAVER CREEK

January through March

BACHELOR GULCH

40.3% The average days on market in Bachelor

January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$2,303,727

$3,867,407

67.9%

$888

$1,023

15.2%

191

114

-40.3%

$5,000,000

$13,500,000

170.0%

11

19

72.7%

95.0%

94.5%

-0.4%

Gulch decreased by 40.3% January through

All Properties

BACHELOR GULCH

BACHELOR GULCH

March 2021 compared to that of 2020.

January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$5,000,000

$7,811,458

56.2%

$616

$1,117

81.3%

217

48

-77.9%

$5,000,000

$13,500,000

170.0%

1

6

500.0%

91.0%

96.1%

5.6%

Single Family Homes

Extending the Beaver Creek ambiance to a more intimate setting, Bachelor Gulch

January through March Average Sold Price

offers breathtaking views of the Vail Valley.

Average Price per Square Foot

Bachelor Gulch is the ideal location to lose

Average Days on Market

yourself in luxury. Combine this with the

Highest Price

numerous outdoor, year-round activities, and the Bachelor Gulch experience is truly limitless.

Properties Sold % Sold Price to List Price

2020

2021

% Change

$2,034,100

$2,047,076

0.6%

$915

$980

7.1%

189

145

-23.3%

$3,875,000

$4,000,000

3.2%

10

13

30.0%

95.3%

93.9%

-1.6%

Condominiums, Townhomes, Duplexes and Triplexes

Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$1,917,711

$2,555,630

33.3%

$563

$668

18.7%

201

$137

-31.8%

$3,325,000

$10,605,750

219.0%

9

15

66.7%

94.5%

95.4%

0.9%

All Properties

Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$2,787,500

$5,514,237

97.8%

$511

$687

34.4%

197

155

-21.3%

$3,150,000

$10,605,750

236.7%

2

4

100.0%

94.5%

94.0%

-0.5%

The average days on market in Arrowhead decreased by 31.8% January through March 2021 compared to that of 2020.

ARROWHEAD

January through March

31.8%

ARROWHEAD

January through March

Single Family Homes

Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$1,669,200

$1,479,772

-11.3%

$578

$661

14.4%

202

131

-35.1%

the western gateway to Beaver Creek

$3,325,000

$3,265,000

-1.8%

Mountain, Arrowhead Village is said to

7

11

57.1%

94.6%

95.9%

1.4%

Condominiums, Townhomes, Duplexes and Triplexes

Just around the corner from Bachelor Gulch, you will find Arrowhead, the final village of Beaver Creek Resort. Considered

be one of the best kept secrets of the Colorado Rocky Mountains.

ARROWHEAD

January through March

includes the various resorts with their skiing and spas. For other, the Vail Valley

EAGLE-VAIL & AVON

January through March

2020

2021

% Change

is a place where they can find a home with

Average Sold Price

-

$5,250,000

-

peace and tranquility along with some of

Average Price per Square Foot

-

$591

-

Average Days on Market

-

736

-

Highest Price

-

$6,250,000

-

No Sales

2

-

-

93.6%

-

the most breathtaking view imaginable.

That sums up what Mountain Star is all about. Although less than thirty minutes away from all the action of Eagle county,

Properties Sold

this gated development is everything one

% Sold Price to List Price

could imagine in a mountain home.

WILDRIDGE/WILDWOOD

MOUNTAIN STAR

For many, the draw of the Vail Valley

All Properties *No Sales for Q1 in 2020

January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$1,105,000

$948,750

-14.1%

$359

$355

-1.1%

178

47

-73.6%

$2,525,000

$1,375,000

-45.5%

5

6

20.0%

96.6%

97.3%

0.7%

All Properties

14.8% The average price per square foot in Eagle-Vail & Avon increased by 14.8% January through March 2021 compared to that of 2020.

January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$718,437

$837,372

16.6%

$575

$660

14.8%

103

36

-65.0%

$2,045,000

$2,525,000

23.5%

28

47

67.9%

97.5%

99.2%

1.7%

All Properties

January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2021

% Change

$733,832

$1,184,416

61.4%

shops, restaurants and a movie theater.

$371

$473

27.5%

Beautiful views of the surrounding Vail

78

34

-56.4%

Valley can be seen throughout Edwards,

$1,795,000

$5,200,000

189.7%

14

18

28.6%

access to a variety of outdoor activities

98.2%

98.5%

0.2%

year-round including skiing, hiking, biking

All Properties – Includes Edwards, Homestead & Riverwalk

Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$1,112,187

$1,239,125

11.4%

$348

$537

54.3%

165

8

-95.2%

$1,660,000

$1,700,000

2.4%

8

4

-50.0%

97.2%

94.6%

-2.7%

Edwards, providing quick access to nearby

including the New York Mountain Range and the Eagle River, while allowing for easy

and fly-fising.

EDWARDS - SINGLETREE

January through March

Valley as it is situated on the south side of

2020

All Properties

Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$2,000,000

$3,862,500

93.1%

$346

$366

5.8%

152

74

-51.3%

$2,000,000

$4,500,000

125.0%

1

2

100.0%

95.5%

82.1%

-14.0%

All Properties

5.8% The average price per square foot in Edwards / Lake Creek increased by 5.8% January through March 2021 compared to that of 2020.

EDWARDS - LAKE CREEK

January through March

EDWARDS - HOMESTEAD

Homestead is ideally located in the Vail

The average days on market in Cordillera

Properties Sold

& Valley Club decreased by 18.2% January

% Sold Price to List Price

Average Sold Price

Average Days on Market Highest Price

through March 2021 compared to that of

2020

2021

% Change

$2,123,833

$2,571,583

21.1%

$391

$465

18.9%

176

144

-18.2%

$3,800,000

$4,000,000

5.3%

12

12

0.0%

94.5%

96.7%

2.3%

All Properties - Includes Cordillera Valley Club, Cordillera Divide, Cordillera Ranch, Cordillera Summit, Colorow Squaw Creek.

2020.

January through March

CORDILLERA

CORDILLERA & VALLEY CLUB

18.2%

Average Price per Square Foot

January through March

Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$1,871,100

$2,294,888

22.6%

$369

$420

13.8%

171

147

-14.0%

$3,800,000

$4,000,000

5.3%

10

9

-10.0%

94.0%

97.2%

3.4%

CORDILLERA VALLEY CLUB

All Properties - Includes Cordillera Divide, Cordillera Ranch, Cordillera Summit, Colorow Squaw Creek

20.5% The average price per square foot in Cordillera Valley Club increased by 20.5% January through March 2021 compared to that of 2020.

January through March Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$3,387,500

$3,401,666

0.4%

$498

$600

20.5%

206

137

-33.5%

$3,475,000

$3,750,000

7.9%

2

3

50.0%

97.0%

95.2%

-1.8%

All Properties

Average Sold Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

The Town of Eagle is the county seat of Ea-

$610,462

$646,616

5.9%

gle County, Colorado, and one of Colorado's

$264

$294

11.4%

best-kept secrets. A hidden gem with pris-

87

43

-50.6%

$1,500,000

$2,350,000

56.7%

Located at 6,600 feet above sea level with

42

58

38.1%

a population of 6,748, the town is gain-

99.0%

98.8%

-0.2%

ing recognition for its small-town charm.

tine and abundant access to mountain biking, hiking, fishing, and year-round events.

All Properties - Includes Eagle Ranch, Brush Creek, Cotton Ranch & Chatfield

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January through March

MICROMARKET REPORT | Vail Valley JANUARY - MARCH 2021 • COLORADOMICROREPORTS.COM