Vail Valley 2017 First Quarter Market Report | LIV Sotheby's International Realty

MICROMARKET REPORT Vail Valley (Eagle County)• First Quarter 2017

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: 1860 Cresta Road, Edwards

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VAIL VALLEY Market Introduction Eagle County and the Vail Valley’s residential real estate market remains robust. In addition to several eye-popping transactions taking place in Vail and Beaver Creek early in the year, the desire for “turnkey” homes in ready to move in shape continues to be a driving factor in the Vail Velley real estate market. A number of good values in Beaver Creek seem to be attracting more attention, both in condos and homes.

The middle of the market across the Vail Valley is experiencing lower inventory and limited newer product, and the mid-valley markets have seen robust activity with local buyers and entry level second home purchaser’s.

EAGLE COUNTY January through March Sold Listings (All Properties)

Highlights from the Vail Valley area include Bachelor Gulch’s average price rising to $5,688,571, up 116%, from 2016. Vail Village’s average price rose to $4,873,136, up 144.1%, from 2016 and Eagle County’s average price rose to $1,291,204, up 31.9% from 2016.

livsothebysrealty.com

2017

% Change

217

256

18.0%

54

96

77.8%

Sold Condos/TH/DP

163

160

-1.8%

Average Days on Market

167

159

-4.8%

$978,638

$1,291,204

31.9%

95.2%

95.0%

-0.1%

$212,364,436

$330,548,259

55.7%

Sold Single Family

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

All Properties

The Vail Valley area Micro Market Report (MMR), prepared by LIV Sotheby’s International Realty, compares 2017 Q1 statistics (January through March), to that of 2016, for single family homes and attached dwellings in Eagle County. The number of single family homes and condos sold rose to 256, an 18% increase year-over-year, with average days on market decreasing 4.8% to 159 from 2016.

Sales price to list price ratio is holding at 95% throughout the Vail Valley, which is evidence of continued competitive conditions in the marketplace.

2016

During Q1 2017,

256

homes sold for an average of

$1,291,204

or, $330,548,259 total dollar volume sold.

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 2017 • COLORADOMICROREPORTS.COM

ARROWHEAD January through March

2016

Average Price

$1,586,314

$1,366,534

-13.9%

$542

$552

1.8%

146

109

-25.3%

$3,980,000

$2,833,875

-28.8%

7

11

57.1%

94.1%

96.0%

2.0%

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

2017

% Change

Arrowhead boasts a convenient location, connecting world-class Beaver Creek resort through a network of chairlifts and ski trails.

All Properties

ARROWHEAD January through March Average Price

2016

$2,354,438

-40.8%

$790

$468

-40.8%

466

330

-29.2%

$3,980,000

$2,833,875

-28.8%

1

2

100.0%

87.5%

94.4%

7.9%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$3,980,000

Average Price per Square Foot

Highest Price

2017

Single Family Homes 348 Cresta Road, Arrowhead

ARROWHEAD January through March

2016

2017

Average Price

$1,187,367

$1,147,000

-3.4%

$501

$571

14.0%

93

60

-35.5%

$1,950,000

$2,056,000

5.4%

6

9

50.0%

95.8%

95.5%

-0.2%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes

% Change

14.0%

The average price per square foot for condos, townhomes, and duplexes in Arrowhead increased by 4.0% in Q1 2017 compared to Q1 2016.

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BACHELOR GULCH January through March Average Price

2016

$5,688,571

116.0%

$848

$981

15.7%

255

160

-37.3%

$3,175,000

$13,400,000

322.0%

6

7

16.7%

95.3%

95.8%

0.5%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$2,634,150

Average Price per Square Foot

Highest Price

2017

All Properties 2150 Daybreak Ridge, Bachelor Gulch

50.9%

During Q1 2017, the average price of single family homes in Bachelor Gulch increased by 50.9% compared to Q1 2016.

BACHELOR GULCH January through March Average Price

2016

$9,315,000

50.9%

$634

$1,092

72.2%

413

118

-71.4%

$6,175,000

$13,400,000

117.0%

1

3

200.0%

95.0%

96.8%

1.9%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$6,175,000

Average Price per Square Foot

Highest Price

2017

Single Family Homes

BACHELOR GULCH January through March

The luxury Ritz-Carlton, Bachelor Gulch is one of the largest freestanding log “cabins” in the United States. The structure is literally built into the side of the mountain, including the award-winning spa, which makes the pampering stay even more quiet and tranquil.

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

2016

2017

% Change

$1,925,980

$2,968,750

54.1%

$890

$897

0.8%

223

192

-13.9%

$2,400,000

$5,275,000

119.8%

5

4

-20.0%

94.7%

94.3%

-0.3%

Condos, Townhomes, Duplexes

MICROMARKET REPORT | Vail Valley livsothebysrealty.com

QUARTER 1 2017 • COLORADOMICROREPORTS.COM

BEAVER CREEK January through March

2016

Average Price

$1,929,361

$2,035,106

5.5%

$772

$801

3.8%

193

258

33.7%

$6,735,000

$6,040,000

-10.3%

18

18

0.0%

93.5%

95.1%

1.7%

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

2017

% Change

Beaver Creek is home to the Audi Birds of Prey World Cup, which brings together hundreds of top male skiers as they compete to be named World Champion.

All Properties

BEAVER CREEK January through March

2016

Average Price

$1,475,000

$4,600,000

211.9%

$601

$683

13.6%

16

425

2556.3%

$1,475,000

$4,600,000

211.9%

1

1

0.0%

93.7%

94.9%

1.3%

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

2017

% Change

13.6%

During Q1 2017, the average price per square foot for single family homes in Beaver Creek increased by 13.6% compared to Q1 2016.

Single Family Homes

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

2016

2017

% Change

$1,956,088

$1,884,229

-3.7%

$782

$808

3.3%

203

249

22.7%

$6,735,000

$6,040,000

-10.3%

17

17

0.0%

93.6%

95.1%

1.6%

Condos, Townhomes, Duplexes 373 Strawberry Park Road, Beaver Creek

coloradomicroreports.com

6.6%

CORDILLERA/VALLEY CLUB January through March

2016

Average Price

$1,454,944

6.6%

$325

$330

1.5%

68

318

367.6%

$1,565,000

$2,112,500

35.0%

2

9

350.0%

92.8%

92.4%

-0.4%

Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

$1,365,000

Average Price per Square Foot

The average price for Cordillera and Cordillera Valley Club increased by 6.6% in Q1 2017 compared to Q1 2016.

2017

All Properties

CORDILLERA January through March

2016

Average Price

$1,390,286

1.9%

$325

$321

-1.2%

68

341

401.5%

$1,565,000

$2,000,000

27.8%

2

7

250.0%

92.8%

92.1%

-0.8%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$1,365,000

Average Price per Square Foot

Highest Price

2017

All Properties 525 Forest Trail, Cordillera

CORDILLERA VALLEY CLUB January through March

The gated community of Cordillera offers 7,000 acres of panoramic views with access to private fly fishing waters, a golf course, and an equestrian center.

2016

2017

% Change

Average Price

-

$1,681,250

-

Average Price per Square Foot

-

$362

-

Average Days on Market

-

239

-

Highest Price

-

$2,112,500

-

No Sales

2

-

-

91.6%

-

Properties Sold % Sold Price to List Price All Properties

MICROMARKET REPORT | Vail Valley livsothebysrealty.com

QUARTER 1 2017 • COLORADOMICROREPORTS.COM

EDWARDS & HOMESTEAD January through March Average Price

2016

$506,861

7.9%

$283

$368

30.0%

112

44

-60.7%

$835,000

$1,645,000

97.0%

12

18

50.0%

94.9%

97.0%

2.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$469,667

Average Price per Square Foot

Highest Price

2017

All Properties 1548 Via La Favorita, Edwards

EDWARDS - LAKE CREEK VALLEY January through March

2016

2017

% Change

Average Price

-

$2,650,000

-

Average Price per Square Foot

-

$440

-

Average Days on Market

-

245

-

Highest Price

-

$3,650,000

-

No Sales

2

-

-

94.8%

-

Properties Sold % Sold Price to List Price

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

2016

2017

% Change

$1,268,000

$1,013,500

-20.1%

$316

$366

15.8%

208

362

74.0%

$1,875,000

$1,609,000

-14.2%

4

8

100.0%

91.2%

94.9%

4.0%

All Properties 124 Spring Place, Edwards

coloradomicroreports.com

65.0%

During Q1 2017, the average price in Town of Vail increased by 65% compared to Q1 2016.

TOWN OF VAIL January through March

2016

2017

Average Price

$1,382,531

$2,281,301

65.0%

$795

$898

13.0%

296

235

-20.6%

$4,220,000

$23,000,000

445.0%

57

60

5.3%

94.3%

97.0%

2.9%

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

% Change

All Properties

EAST VAIL January through March Average Price

2016

$1,149,867

64.0%

$480

$528

10.0%

62

187

201.6%

$3,075,000

$3,750,000

22.0%

11

15

36.4%

95.4%

95.6%

0.1%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$701,300

Average Price per Square Foot

Highest Price

2017

All Properties 1242 Westhaven Circle, Vail

33.9%

The average price per square foot for West Vail and Cascade increased by 33.9% in Q1 2017 compared to Q1 2016.

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

2016

2017

% Change

$967,792

$2,114,305

118.5%

$543

$727

33.9%

306

162

-47.1%

$2,000,000

$5,500,000

175.0%

12

10

-16.7%

93.6%

93.7%

0.1%

All Properties

MICROMARKET REPORT | Vail Valley livsothebysrealty.com

QUARTER 1 2017 • COLORADOMICROREPORTS.COM

VAIL VILLAGE January through March Average Price Average Price per Square Foot

2016

$4,873,136

144.1%

$1,467

$1,765

20.3%

586

245

-58.2%

$3,750,000

$23,000,000

513.3%

12

11

-8.3%

94.7%

91.1%

-3.8%

Properties Sold % Sold Price to List Price

% Change

$1,996,458

Average Days on Market Highest Price

2017

20.3%

The average price per square foot for Vail Village increased by 20.3% in Q1 2017 compared to Q1 2016.

All Properties

LIONSHEAD January through March Average Price Average Price per Square Foot

2016

$3,553,833

17.5%

$1,654

$1,410

-14.8%

172

912

430.2%

$4,220,000

$12,425,000

194.4%

3

6

100.0%

89.9%

93.0%

3.4%

Properties Sold % Sold Price to List Price

% Change

$3,023,333

Average Days on Market Highest Price

2017

All Properties 3235 Katsos Ranch Road, Vail

VAIL GOLF COURSE/SPRADDLE CREEK January through March

2016

Average Price

$2,073,750

$1,308,500

-36.9%

Average Price per Square Foot

$741

$664

-10.4%

Average Days on Market

340

83

-75.6%

$4,000,000

$1,900,000

-52.5%

8

2

-75.0%

96.8%

92.7%

-4.2%

Highest Price Properties Sold % Sold Price to List Price

2017

% Change

Vail Golf Club is highlighted by unparalleled views of the Gore Mountain Range and offers an 18-hole course with 6,766 yards of golf.

All Properties

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ALL OTHER VAIL AREAS January through March

2016

Average Price

% Change

$921,582

$1,370,147

48.7%

$468

$591

26.3%

205

85

-58.5%

$1,990,000

$4,380,000

120.1%

12

17

41.7%

96.5%

94.4%

-2.2%

Average Price per Square Foot Average Days on Market Highest Price

2017

Properties Sold % Sold Price to List Price

Booth Creek, Highland Meadows, Potato Ranch, Sandstone Ridge, Valley Ridge at Vail 5792 Wildridge Road, Avon

13.5%

During Q1 2017, the average price of Eagle-Vail, Avon, and Wildridge increased by 13.5% compared to Q1 2016.

EAGLE-VAIL, AVON, & WILDRIDGE January through March Average Price

2016

% Change

$605,382

$687,297

13.5%

$424

$399

-5.9%

97

137

41.2%

$1,850,000

$4,306,000

132.8%

51

40

-21.6%

97.7%

95.5%

-2.3%

Average Price per Square Foot Average Days on Market Highest Price

2017

Properties Sold % Sold Price to List Price All Properties

EAGLE & SURROUNDING AREAS January through March Average Price

2016

% Change

$461,000

$455,438

-1.2%

$196

$218

11.2%

94

75

-20.2%

$935,000

$1,400,000

49.7%

33

47

42.4%

95.8%

97.5%

1.8%

Average Price per Square Foot Average Days on Market Highest Price

2017

Properties Sold % Sold Price to List Price Eagle, Eagle Ranch, Brush Creek, & Gypsum 2480 Saddle Ridge Loop, Avon

MICROMARKET REPORT | Vail Valley livsothebysrealty.com

QUARTER 1 2017 • COLORADOMICROREPORTS.COM

MINTURN January through March Average Price

2016

$691,750

-17.2%

$306

$380

24.2%

160

127

-20.6%

$1,640,000

$1,060,000

-35.4%

4

4

0.0%

91.5%

95.0%

3.8%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$835,750

Average Price per Square Foot

Highest Price

2017

24.2%

The average price per square foot for Minturn increased by 24.2% in Q1 2017 compared to Q1 2016.

All Properties

MOUNTAIN STAR January through March Average Price

2016

-

-

$521

-

-

250

-

-

$3,450,000

-

-

1

No Sales

-

86.4%

-

-

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

2016

2017

% Change

$827,500

$1,190,107

43.8%

$349

$362

3.7%

228

76

-66.7%

$1,050,000

$4,306,000

310.1%

2

7

250.0%

96.2%

95.4%

-0.8%

Wildridge is located on the opposite side of Eagle Valley from Beaver Creek and offers a variety of hiking paths that extend to vail.

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.