476 Pilgrim Drive, Edwards
VAIL VALLEY LUXURY MARKET As one of Colorado’s premier ski resort destinations, the Vail Valley is a longtime favorite of homebuyers looking for a combination of luxury and mountain living. Although the real estate market here saw rises and falls in activity last year, 2020 was a very productive year for the Vail Valley and yielded success for many buyers and sellers. Last year, the number of luxury listings sold in the Vail Valley increased by 67.3% compared to 2019. Average sale prices for the beautiful homes here rose by 4.3%, bringing the average cost for a luxury house to $6,032,266. Overall, the total dollar volume sold in the Vail Valley increased by an impressive 74.6%, reaching $1,079,847,230 in 2020. In addition to this impressive rise in sales, the highest-priced sale so far this year was 43.4% higher than the highest-priced sale that took place in 2019. The $29,750,000 sale, in which LIV Sotheby’s International Realty represented the buyer, played a role in the community’s increase in total sales volume.
EAGLE COUNTY January through December
2019
2020
% Change
107
179
67.3%
$1,275
$1,264
-0.9%
321
244
-24.0%
$20,750,000
$29,750,000
43.4%
Average List Price
$6,242,227
$6,414,503
2.8%
Average Sale Price
$5,781,348
$6,032,666
4.3%
93.6%
94.5%
1.0%
$618,604,314
$1,079,847,230
74.6%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Single family homes in Bachelor Gulch, a community with close proximity to Beaver Creek Ski Resort, saw the most dramatic increase in the number of luxury properties sold in 2020, rising from four homes sold in 2019 to 14 homes sold last year, a 250% increase. The Town of Vail and Vail Village also experienced notable increases in luxury home sales, growing by 46.4% and 66.7% respectively. Average luxury home prices rose within several neighborhoods. Luxury single family homes in Beaver Creek increased in average sold price by 28.6%, bringing the average sold price to $6,348,750. Based on $3,000,000+ sales in Eagle County. 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® on January 8, 2021. 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.
28
coloradomarketreports.com