Page 1

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

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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.

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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

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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

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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

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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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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.

Vail Valley Q1, 2018 Micro Market Report  
Vail Valley Q1, 2018 Micro Market Report