Vail Valley Market Report | November 2015 by Malia Cox Nobrega

Vail Valley Market Report | November 2015

Vail Valley Market Report November 2015 Eagle County real estate in November maintained its trend of increasing dollar volume and transactions year-to-date compared to 2014. Although certain locations have seen a return to the high prices of 2007-2008, this is typically in pockets of areas in Vail Village and Lionshead and other coveted locations and/or newer construction. Many locations are still not near past high sales prices. Inventory continues to be relatively scarce in the luxury market but buyers are still very savvy and want value and therefore are well educated prior to purchase. Whim purchases are far less likely in this climate. November closed out with a total of $137,128,799 compared to November 2014 with a total volume of $128,287,523. When looking at 2015, September remained the highest month in sales with over $229,528,778. The total transactions for the year concluding November was 1,875. The entire year of 2014 had a total of 1,802 transactions. The Villages of both Vail and Beaver Creek Resort were fairly comparable for the month. Each accounted for approximately 11% of the total volume for the county, or $16,269,500 for Vail Village and $15,215,000 in Beaver Creek. Areas of interest that have improved in average price per square foot across all property types (i.e. single family, multi-res, land) are as follows: Vail Golf Course, Sandstone/Lionsridge, Buffer Creek, Intermountain/West Vail South, Minturn, Eagle-Vail, Mountain Star, Beaver Creek, Arrowhead, Homestead, and Cordillera. The remaining other areas saw a reduction in either single family or condo/ townhome price per square foot for 2015 compared to 2014. In some areas this has been a genuine decline while others appear to be related to the age and quality of the residences sold from 2014 to 2015. See page 13 for price per foot by area.