The 2011 Slifer Report

t He sliFeR R ePoRt vail valle y re al eState 2011 annual market review

va i l r e a l e S tat e .c o m

ta b l e o f c o n t e n t S Introduction ...........................................................3 Eagle County Overview ......................................4-5 Vail Village & Lionshead.........................................6 Vail Golf Course, Spraddle Creek & Cascade Village ..................................................7 Vail - All Other Areas .............................................8 EagleVail .................................................................9 Avon & Wildridge ................................................ 10 Mountain Star ...................................................... 11 Singletree ............................................................. 12 Beaver Creek Village ............................................ 13 Bachelor Gulch Village ......................................... 14 Arrowhead Village ............................................... 15 Edwards, Homestead & Lake Creek Valley .............................................16 Cordillera, Cordillera Valley Club & Timber Springs .................................................17 Wolcott, Bellyache Ridge & Red Sky Ranch ..................................................18 Eagle & Eagle Ranch ............................................19 Gypsum, Cotton Ranch & Buckhorn Valley ................................................20 Homesite Sales................................................21-22 SSF Information & OfďŹ ce Listings ...................23-24

Has

the real estate market hit the bottom in the

Vail Valley?

That is the question

I get asked the most these days and it is the hardest to answer. Prices have certainly come down significantly from the peak in 2007 but timing the bottom in any market, not just real estate, is nearly impossible. By the time the bottom has been reached, prices have already started to increase and savvy buyers have plucked the prime properties and best values from the inventory.

In 2011, there were 1,357 total transactions in Eagle County which was 9% above 2010. That number of deals is 45% above 2009. Sales volume for 2011 ended at $1,158,048,856 which was down 23% from 2010 but was an increase of 29% over 2009.* The overall average sales price in 2011 was $857,858. As you can see in the following graphs, Eagle County is at 2006 average price levels. The average sales price decreased as bank sales rose. Gypsum had the most bank-owned sales with 95 while Eagle had 73. In contrast, there were 11 in Vail and 2 in Beaver Creek.

According to numbers compiled by Land Title Guarantee Company, after taking the appreciation and depreciation since 1987 there has been an overall average appreciation of 7.71% each year.

The high-end market saw 40 residential sales over $4 million per the Vail MLS for a total of $266,859,750. The highest sale of 2011 was a Slifer Smith & Frampton listing in Vail that sold for $12.5 million. There was one residential homesite sale over $4 million in Eagle County which sold in Vail for $6.825 million and was also a Slifer Smith & Frampton listing.

There are a number of factors that we are watching in 2012 that we believe will benefit the Vail Valley. Mortgage rates are at the lowest levels and availability of credit still continues to loosen. Inventory levels reached a 4 year low in January 2012 at 1,441 including residential and land and remains stable. Our local economy continues to improve compared to other resort markets.

Optimistic. That is the word I would like to end with. Last year we said we were cautiously optimistic and this year I am removing the word cautiously. We expect that the real estate market in 2012 will outperform last year.

This year also marks the 50th year anniversary of Slifer Smith & Frampton. The Vail Valley has changed dramatically since 1962, so has real estate. Each market has brought new challenges but also opportunities. As we reflect on the past five decades in business we are excited about the road ahead.

With Warm Regards, Jim Flaum President and Managing Broker Slifer Smith & Frampton Real Estate *Eagle County numbers compiled by Land Title Guarantee Company

2011 Sl i fe r R e p o r t

3

e ag l e c o u n t y ov e r v i e w t r a n s ac t i o n vo l u m e c o m pa r i s o n

NUMBER OF TR ANSAC TIONS

5,000

4,000

4,023 3,293

3,000

3,115 2,688

2,597 2,000

2,334 1,606 1,250

1,000

0

1,357

938

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

s a l e s vo l u m e c o m pa r i s o n $2.960

$3.0

$2.800 $2.754

$2.5 $2.225

$2.235

$2.0

$1.5

$1.499 $1.471

$1.497 $1.158 $0.898

BILLIONS

$1.0

$0.5

$0.0

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

4

2011 Sl i fe r R e p o r t

e ag l e c o u n t y ov e r v i e w av e r ag e s a l e s p r i c e

$566,615

$130,000

$300,000

$1,197,738

$857,858

$250,593

$600,000

$0

19 91 19 92 19 93 19 94 19 95 19 96 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11

SALES PRICE

$900,000

$696,060

$638,056

$1,200,000

$1,107,660

$1,391,606

$1,500,000

ac t i v e l i s t i n g i n v e n t o r y 2,500 1,974

1,900 1,700

1,456

1,674

2,100

1,300

1,464

1,505

1,500

1,100 938

900 700

11 20

10 20

09 20

08 20

07 20

06 20

05 20

04 20

03 20

20

20

02

500

01

NUMBER OF RESIDENTIAL & L AND PROPERTIES LIS TED

2,300

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

2011 Sl i fe r R e p o r t

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vail vill age & Lionshe ad S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$125,617,500

18

593

$6,978,750

$6,500,000

2008*

$185,425,000

16

250

$11,589,063

$12,300,000

2009**

$24,250,000

3

231

$8,083,333

$5,450,000

2010

$16,887,000

3

548

$5,629,000

$5,400,000

2011

$42,650,000

5

266

$8,530,000

$7,500,000

*Includes 12 duplex sales from The Chalets at the Lodge At Vail in 2008. **There were three duplexes and no single-family sales in 2009.

condominium / townhome Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$88,814,050

39

177

$2,277,283

$1,565,000

2008*

$468,767,448

132

710

$3,551,269

$2,895,000

2009

$70,967,000

35

357

$2,027,629

$1,300,000

2010**

$339,371,812

108

499

$3,142,332

$2,450,000

2011†

$187,149,130

67

307

$2,793,271

$2,301,605

*Includes 80 Condominium Sales from The Arrabelle at Vail Square in 2008. **Includes 18 condomimium sales at Solaris at Vail in 2010 for $124,821,736.

Includes 15 condominium sales at The Ritz Carlton, Vail in 2010 for $44,177,216. †Includes 16 condominium sales at The Ritz-Carlton, Vail for $52,690,000.

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$1,387

$2,189

$1,943

$1,324

$1,907

condominium / townhome average

2007

2008

2009

2010

2011

$1,630

$1,388

$1,234

$1,468

$1,338

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

84.63%

condominium / townhome AVERAGE OF SALE PRICE/LAST LISTED PRICE

88.27%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. ©2012 Slifer Smith & Frampton Real Estate

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2011 Sl i fe r R e p o r t

vail golf course, spraddle creek & Cascade Village S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$32,007,500

10

393

$3,200,750

$2,800,000

2008

$18,199,000

4

196

$4,549,750

$3,824,500

2009*

$5,520,000

3

175

$1,840,000

$2,000,000

2010

$18,750,000

5

228

$3,750,000

$4,050,000

2011*

$15,000,000

3

219

$5,000,000

$3,200,000

*There were three duplex and no single-family sales in 2009 and 2011.

condominium / townhome Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$44,541,540

25

291

$1,781,662

$1,845,000

2008

$10,544,000

7

172

$1,506,286

$1,549,000

2009

$8,230,000

5

159

$1,646,000

$1,795,000

2010

$5,845,000

4

507

$1,461,250

$1,550,000

2011

$9,089,000

7

327

$1,298,429

$1,500,000

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$772

$1,163

$531

$669

$1,113

condominium / townhome average

2007

2008

2009

2010

2011

$921

$867

$908

$832

$685

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

87.98%

condominium / townhome AVERAGE OF SALE PRICE/LAST LISTED PRICE

90.32%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

2011 Sl i fe r R e p o r t

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vail - all other are a s S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$73,916,500

37

237

$1,997,743

$1,551,000

2008

$68,286,350

37

234

$1,830,104

$1,675,000

2009

$53,015,475

33

268

$1,606,530

$1,400,000

2010

$76,640,500

46

325

$1,666,098

$1,500,000

2011

$58,861,385

42

308

$1,401,462

$1,112,500

Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$56,569,329

100

135

$565,693

$550,000

2008

$37,085,500

70

169

$529,793

$529,750

2009

$20,823,900

44

198

$473,270

$423,750

2010

$35,112,000

71

337

$494,535

$430,000

2011

$35,852,885

81

222

$442,628

$380,000

condominium / townhome

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$602

$571

$454

$442

$404

condominium / townhome average

2007

2008

2009

2010

2011

$507

$491

$409

$375

$357

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

86.52%

condominium / townhome AVERAGE OF SALE PRICE/LAST LISTED PRICE

91.56%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

8

2011 Sl i fe r R e p o r t

e aglevail S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$27,244,500

30

144

$908,150

$797,000

2008

$18,307,900

22

194

$832,177

$715,000

2009

$6,761,250

11

248

$614,659

$535,000

2010

$14,833,000

22

251

$674,227

$565,750

2011

$17,460,000

22

160

$793,636

$525,000

Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$20,358,600

42

147

$484,730

$448,000

2008

$8,820,500

21

194

$420,024

$400,000

2009

$5,970,250

15

146

$398,017

$380,000

2010

$7,317,074

21

200

$348,432

$307,000

2011

$7,216,770

25

151

$288,671

$299,000

condominium / townhome

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$335

$326

$283

$256

$221

condominium / townhome average

2007

2008

2009

2010

2011

$325

$328

$261

$252

$214

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

89.53%

condominium / townhome AVERAGE OF SALE PRICE/LAST LISTED PRICE

93.10%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

2011 Sl i fe r R e p o r t

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avon & wildridge S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$36,753,555

35

216

$1,050,102

$970,000

2008

$14,358,870

11

229

$1,435,887

$1,500,000

2009

$10,853,616

11

306

$986,692

$900,000

2010

$8,998,250

13

283

$692,173

$675,000

2011

$7,381,700

11

131

$671,064

$515,000

Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$38,177,554

89

123

$444,269

$335,000

2008

$117,489,774

159

520

$738,929

$479,750

2009

$13,123,500

29

395

$452,534

$360,000

2010

$56,476,141

123

689

$459,156

$321,750

2011*

$47,941,568

109

127

$439,831

$399,000

condominium / townhome

*Includes 41 sales at THE ASCENT for $25,709,000.

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$329

$354

$268

$229

$207

condominium / townhome average

2007

2008

2009

2010

2011

$374

$859

$416

$397

$331

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

93.12%

condominium / townhome AVERAGE OF SALE PRICE/LAST LISTED PRICE

96.24%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

10

2011 Sl i fe r R e p o r t

mountain star S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$12,075,000

3

474

$4,025,000

$4,000,000

2008

$3,750,000

1

812

$3,750,000

$3,750,000

2009

$21,980,000

3

299

$7,326,667

$3,600,000

2010

$12,100,000

3

579

$4,033,333

$4,200,000

2011

$9,870,000

3

507

$3,290,000

$3,500,000

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$576

$481

$822

$575

$570

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

92.68%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

2011 Sl i fe r R e p o r t

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singletree S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$60,828,763

60

159

$1,013,813

$892,138

2008

$33,966,750

28

213

$1,213,098

$960,000

2009

$26,804,136

27

212

$992,746

$870,000

2010

$17,811,260

21

297

$848,155

$730,000

2011

$25,744,687

29

252

$887,748

$755,000

Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$1,591,400

3

136

$530,467

$524,900

2008

$2,845,800

4

205

$711,250

$697,500

2009

$1,817,000

3

294

$605,667

$535,000

2010

$2,481,500

5

403

$496,300

$450,000

2011

$2,343,000

4

337

$585,750

$650,000

condominium / townhome

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$357

$373

$302

$274

$264

condominium / townhome average

2007

2008

2009

2010

2011

$419

$364

$381

$314

$268

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

87.92%

condominium / townhome AVERAGE OF SALE PRICE/LAST LISTED PRICE

88.58%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

12

2011 Sl i fe r R e p o r t

be aver creek vill age S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$175,922,657

32

493

$5,497,592

$4,832,500

2008

$78,716,106

16

328

$4,919,757

$5,112,500

2009

$28,100,000

4

137

$7,025,000

$4,850,000

2010

$81,017,000

13

262

$6,232,077

$5,567,000

2011

$28,481,000

8

481

$3,560,125

$2,850,000

Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$195,311,150

132

354

$1,479,630

$1,402,400

2008

$82,715,282

49

212

$1,688,067

$1,350,000

2009

$57,961,081

30

302

$1,932,036

$1,721,791

2010

$95,016,000

54

287

$1,759,556

$1,472,500

2011

$79,669,000

59

339

$1,350,322

$1,083,000

condominium / townhome

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$904

$873

$937

$845

$635

condominium / townhome average

2007

2008

2009

2010

2011

$812

$892

$785

$781

$673

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

89.34%

condominium / townhome AVERAGE OF SALE PRICE/LAST LISTED PRICE

90.44%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

2011 Sl i fe r R e p o r t

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bachelor gulch vill age S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$87,675,000

12

214

$7,306,250

$6,850,000

2008

$37,425,000

4

263

$9,356,250

$9,550,000

2009

$35,500,000

5

421

$7,100,000

$6,750,000

2010

$13,750,000

2

403

$6,875,000

$6,875,000

2011

$66,398,750

10

521

$6,639,875

$7,050,000

Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$111,404,500

50

276

$2,228,090

$2,096,250

2008

$68,324,000

25

220

$2,732,960

$2,350,000

2009

$20,900,000

9

341

$2,322,222

$2,150,000

2010

$28,415,200

14

454

$2,029,657

$1,750,000

2011

$32,378,000

15

410

$2,158,533

$2,000,000

condominium / townhome

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$992

$1,115

$980

$895

$877

condominium / townhome average

2007

2008

2009

2010

2011

$1,155

$1,240

$832

$781

$784

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

90.20%

condominium / townhome AVERAGE OF SALE PRICE/LAST LISTED PRICE

89.49%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

14

2011 Sl i fe r R e p o r t

arrowhe ad vill age S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Average Days on Market

Average Sale

Median Sale

2007

$111,158,261

37

173

$3,004,277

$2,600,000

2008

$66,654,500

16

257

$4,103,406

$3,531,250

2009

$54,825,000

20

319

$2,741,250

$1,992,500

2010

$38,475,000

20

367

$1,923,750

$1,662,500

2011

$55,607,500

26

412

$2,138,750

$1,650,000

Sales Volume

No. of Sales

Average Days on Market

Average Sale

Median Sale

2007

$39,112,004

27

240

$1,448,593

$1,337,500

2008

$22,916,000

18

182

$1,273,111

$1,242,500

2009

$11,406,500

14

259

$814,750

$680,000

2010

$13,243,500

17

352

$779,029

$585,000

2011

$9,201,500

11

238

$836,000

$900,000

condominium / townhome

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$577

$666

$547

$439

$428

condominium / townhome average

2007

2008

2009

2010

2011

$710

$671

$520

$501

$459

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

87.98%

condominium / townhome AVERAGE OF SALE PRICE/LAST LISTED PRICE

88.23%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

2011 Sl i fe r R e p o r t

15

edwards, homeste ad & L ake creek valle y S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$72,051,361

59

207

$1,221,210

$895,000

2008

$34,683,062

27

264

$1,284,558

$899,000

2009

$19,346,625

15

389

$1,289,775

$800,000

2010

$27,309,220

22

274

$1,241,328

$955,000

2011

$20,417,000

19

256

$1,074,579

$750,000

Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$40,797,143

85

112

$479,966

$460,000

2008

$16,498,639

37

170

$445,909

$417,000

2009

$10,724,750

26

192

$412,490

$377,500

2010

$9,584,000

25

253

$383,360

$335,000

2011

$8,439,860

29

253

$291,030

$267,110

condominium / townhome

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$341

$438

$297

$331

$267

condominium / townhome average

2007

2008

2009

2010

2011

$343

$340

$305

$275

$209

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

89.31%

condominium / townhome AVERAGE OF SALE PRICE/LAST LISTED PRICE

93.43%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

16

2011 Sl i fe r R e p o r t

cordillera, cordillera valley club & timber springs S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$133,178,745

55

263

$2,421,432

$2,340,000

2008

$68,640,000

32

311

$2,145,000

$1,865,000

2009

$59,948,500

31

330

$1,933,823

$1,620,000

2010

$84,530,400

45

334

$1,878,453

$1,700,000

2011

$32,366,000

22

425

$1,471,182

$1,225,000

Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$1,300,000

1

353

$1,300,000

$1,300,000

2008

N/A

N/A

N/A

N/A

N/A

2009

$1,680,000

2

394

$840,000

$840,000

2010

N/A

N/A

N/A

N/A

N/A

2011

$1,087,000

1

362

$1,087,000

$1,087,000

condominium / townhome

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$433

$419

$362

$337

$280

condominium / townhome average

2007

2008

2009

2010

2011

$348

N/A

$189

N/A

$194

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

89.27%

condominium / townhome AVERAGE OF SALE PRICE/LAST LISTED PRICE

90.58%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

2011 Sl i fe r R e p o r t

17

wolcot t, bellyache ridge & red sk y r anch S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$1,399,000

2

223

$699,500

$699,500

2008

$2,677,620

1

615

$2,677,620

$2,677,620

2009

$2,725,000

3

320

$908,333

$1,000,000

2010

$26,458,500

12

268

$2,204,875

$2,215,000

2011

$11,468,170

10

211

$1,146,817

$1,076,335

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$312

$774

$261

$365

$256

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

89.64%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

18

2011 Sl i fe r R e p o r t

e agle & e agle R anch S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$72,426,065

90

236

$804,734

$739,780

2008

$46,788,796

66

189

$708,921

$688,650

2009

$29,942,347

44

274

$680,508

$512,500

2010

$32,740,010

59

288

$554,915

$480,500

2011

$36,400,400

79

160

$460,765

$419,900

Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$33,437,137

87

259

$384,680

$382,675

2008

$15,934,642

41

235

$388,650

$370,000

2009

$6,524,750

20

255

$326,238

$317,500

2010

$8,947,275

33

225

$271,130

$267,000

2011

$9,120,200

50

212

$182,404

$170,000

condominium / townhome

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$254

$253

$221

$185

$151

condominium / townhome average

2007

2008

2009

2010

2011

$284

$282

$223

$178

$134

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

93.96%

condominium / townhome AVERAGE OF SALE PRICE/LAST LISTED PRICE

93.55%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

2011 Sl i fe r R e p o r t

19

gypsum, cot ton r anch & buckhorn valle y S i n g l e - Fa m i ly/ D u p l e x Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$58,341,399

120

178

$486,178

$447,500

2008

$37,342,846

86

200

$434,219

$404,000

2009

$13,235,647

35

237

$378,161

$350,000

2010

$17,395,694

52

175

$334,533

$324,250

2011

$15,936,365

64

137

$249,006

$237,000

Sales Volume

No. of Sales

Aver age Days on Market

Aver age Sale

Median Sale

2007

$5,033,900

16

88

$314,619

$304,500

2008

$1,992,500

8

98

$249,063

$247,500

2009

$2,812,225

11

211

$255,657

$265,000

2010

$778,800

5

68

$155,760

$160,000

2011

$1,926,800

18

92

$107,044

$99,950

condominium / townhome

p r i c e p e r s q ua r e f o o t c o m pa r i s o n Single-Family/Duplex average

2007

2008

2009

2010

2011

$236

$215

$193

$153

$125

condominium / townhome average

2007

2008

2009

2010

2011

$240

$246

$185

$114

$82

S ALE PRICE V S LI S T PRICE COMPARI S ON Single-Family/Duplex AVERAGE OF SALE PRICE/LAST LISTED PRICE

95.66%

condominium / townhome AVERAGE OF SALE PRICE/LAST LISTED PRICE

92.61%

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

20

2011 Sl i fe r R e p o r t

homesite sales a r e a n a m e L i s t p r i c e s o l d p r i c e s o l d dat e Beaver Creek Beaver Creek Bellyache Ridge Wolcott Bellyache Ridge Wolcott Bellyache Ridge Wolcott Bellyache Ridge Wolcott Bellyache Ridge Wolcott Bellyache Ridge Wolcott Bellyache Ridge Wolcott Bellyache Ridge Wolcott Singletree Singletree Singletree Singletree Singletree Fulford Fulford Fulford Cordillera Cordillera Cordillera Cordillera Cordillera Cordillera Colorow at Squaw Creek Cotton Ranch Cotton Ranch Cotton Ranch Cordillera Valley Club Cordillera Valley Club Dotsero Colorado River River Rd Dotsero Colorado River River Rd Eagle Eagle Ranch Eagle Ranch Eagle Ranch Eagle Ranch Eagle Ranch Eagle Ranch Eagle Ranch Eagle Ranch Eagle Ranch Eagle Ranch Eagle Ranch Eagle Ranch EagleVail EagleVail Edwards Gypsum Gypsum Gypsum Gypsum

$1,200,000 $973,000 $295,000 $395,000 $425,000 $695,000 $695,000 $275,000 $595,000 $495,000 $285,000 $290,950 $329,000 $399,979 $239,000 $19,000 $19,000 $50,000 $345,000 $199,000 $114,900 $297,500 $135,000 $125,000 $585,000 $26,000 $25,000 $35,000 $1,200,000 $750,000 $389,000 $299,000 $225,000 $59,000 $30,000 $99,000 $180,000 $49,000 $149,000 $85,000 $81,900 $134,900 $69,900 $99,000 $65,000 $279,000 $199,000 $4,985,000 $25,000 $25,000 $900,000 $60,000

$1,025,000 $825,000 $240,000 $300,000 $260,000 $550,000 $500,000 $225,000 $495,000 $380,000 $285,000 $215,000 $265,000 $285,000 $208,000 $19,000 $19,000 $40,000 $200,000 $100,000 $111,000 $123,750 $120,000 $110,000 $250,000 $23,000 $20,000 $25,000 $875,000 $562,500 $360,000 $247,500 $155,000 $45,000 $26,500 $92,500 $155,000 $43,000 $145,000 $76,000 $57,500 $110,000 $69,000 $92,500 $55,000 $199,000 $215,000 $3,900,000 $22,500 $22,500 $700,000 $42,500

5/23/11 10/19/11 5/19/11 4/20/11 11/3/11 2/28/11 7/1/11 9/1/11 5/26/11 12/16/11 5/6/11 1/5/11 12/22/11 9/29/11 9/22/11 1/31/11 1/31/11 10/14/11 5/24/11 3/23/11 3/28/11 9/20/11 8/19/11 12/28/11 10/17/11 9/30/11 12/23/11 12/23/11 4/29/11 5/10/11 12/13/11 11/28/11 8/16/11 12/16/11 12/13/11 3/23/11 2/21/11 9/22/11 6/2/11 8/8/11 4/11/11 4/25/11 6/23/11 8/10/11 7/27/11 12/1/11 6/3/11 12/22/11 10/10/11 10/10/11 8/10/11 1/18/11

continued on following page Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

2011 Sl i fe r R e p o r t

21

homesite sales

continued from previous page

a r e a n a m e L i s t p r i c e s o l d p r i c e s o l d dat e Gypsum Gypsum Gypsum Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Gypsum Valley Brightwater Redcliff NW Eagle County NW Eagle County NW Eagle County Out of County Out of County Out of County Out of County Out of County Sandstone Lionsridge Sandstone Lionsridge Sandstone Lionsridge Vail Village

TOTAL LAND SALES IN 2011

$1,900,000 $49,000 $39,000 $48,000 $120,000 $29,900 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $85,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $46,000 $40,000 $39,000 $39,000 $20,000 $29,900 $25,000 $28,000 $52,370 $1,500,000 $799,000 $2,750,000 $1,950,000 $150,000 $795,000 $199,000 $640,000 $895,000 $519,000 $519,000 $8,100,000

$1,775,000 $40,000 $32,000 $38,000 $100,000 $22,500 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $59,125 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $35,750 $40,000 $27,500 $27,500 $10,000 $24,500 $26,000 $28,000 $44,000 $980,000 $690,000 $2,200,000 $1,950,000 $145,000 $813,000 $180,000 $620,000 $250,000 $445,000 $510,000 $6,825,000

5/23/11 10/11/11 12/23/11 2/25/11 7/7/11 9/7/11 9/1/11 9/1/11 9/1/11 9/1/11 9/1/11 9/1/11 9/1/11 9/1/11 9/1/11 9/1/11 9/1/11 9/1/11 9/1/11 9/1/11 9/1/11 9/1/11 2/10/11 9/1/11 9/1/11 9/1/11 9/1/11 9/1/11 9/1/11 5/17/11 5/20/11 9/12/11 9/12/11 6/28/11 9/19/11 11/14/11 11/8/11 9/21/11 2/18/11 8/4/11 8/23/11 1/25/11 2/17/11 12/15/11 10/7/11 9/20/11 10/31/11 8/30/11 8/11/11 10/13/11

$33,755,125

Source of all data contained in this report is the Vail Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.

Consult your Slifer Smith & Frampton Broker for more information. Š2012 Slifer Smith & Frampton Real Estate

22

2011 Sl i fe r R e p o r t

The most trusted name in Vail Valley real estate for 50 years $1,000

c lo s e d s a l e s Vo l u m e 1/1/11–12 / 31/11

$862 $800

$600

$400

$200

$99 $35

$32

$53

$20

SS F

7 Co m pe tit or

6 Co m pe tit or

5 Co m pe tit or

4 Co m pe tit or

3 Co m pe tit or

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Co m pe tit or

1

$0

MILLIONS

$177

$144

Based on VBOR MLS residential and land sold data from 1/1/11 thru 12/31/11.

Sell sides and list sides combined for totals. Includes closest competitors only.

Today’s real estate market can be extremely complicated. Now more than ever it is important that you work with the market experts. Slifer Smith & Frampton Real Estate has a 50-year perspective and over 100 seasoned Vail Valley real estate brokers.

Whether you are maximizing exposure to sell your home or seeking the best values in our resort market, clients across the globe trust the Vail Valley’s leading real estate company.

Vail R eal E state.com 2011 Sl i fe r R e p o r t

23

slifer smiTh & framPTon real esTaTe offiCes for fur ther re al eS tate market information ple a Se viSit uS at the following loc ationS throughout the vail valle y:

va i l

v i l l ag e S o f b e av e r c r e e k

Bridge Street 970.476.2421 | 800.544.2421

Arrowhead 970.926.3000 | 800.535.8882

970.477.5720 | 888.412.6620

Bachelor Gulch Village 970.845.2300 | 888.677.8380

Lionshead

Highlands Lodge 970.845.9403

Solaris

970.479.0245 | 866.639.8245

Park Hyatt Promenade and Lobby 970.845.9400 | 800.944.9050

The Lodge at Vail 970.390.7473

St. James Place 970.845.9900 | 888.773.8858

av o n Corporate OfďŹ ce 970.845.2000 | 888.692.7360

The Charter 970.845.3815 Vacation Ownership Center 970.949.5811 | 800.962.5920

Mountain Star 970.748.5545

wolcot t

The Westin Riverfront 970.748.5420 | 888.748.5420

Red Sky Ranch 970.754.8411 | 877.973.3759

cordiller a

e ag l e

The Divide

Eagle Ranch 970.328.2550 | 877.328.2550

970.926.3505 | 800.624.0632

va i l r e a l e S tat e . c o m