Vail Valley Year End 2017 Micro Market Report

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

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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.

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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

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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

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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

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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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WHY COLORADO?

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MOUNTAIN RANGES: 7

AVERAGE DAYS OF SUNSHINE ANNUALLY: 300

SKI RESORTS: 25

CRAFT BREWERIES: 312+

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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.