THE SLIFER REPORT 2022 EAGLE COUNTY | Annual Real Estate Market Review
CO N T E N T S Looking Back On 2021................................................ 3 2021 Vail Valley Overview.......................................... 4 2021 Vail Valley Luxury Overview.......................... 5 2021 Notable Sales.......................................................14 2021 New Developments..........................................15 2021 Land Overview...................................................25
EAST
TO
WEST
Vail Village & Lionshead............................................. 6
STAY UP TO DATE ALL YEAR LONG Our team of market experts updates the Slifer Report every quarter. To see the latest numbers and dive even deeper
Vail Golf Course & Cascade Village...................... 7
into the report scan the code or visit:
East Vail.............................................................................. 8
VailRealEstate.com/Slifer-Report
West Vail............................................................................ 9 Minturn.............................................................................. 10 Eagle-Vail........................................................................... 11 Avon & Wildridge.......................................................... 12 Mountain Star.................................................................13 Beaver Creek...................................................................16 Bachelor Gulch............................................................... 17 Arrowhead.......................................................................18 Edwards.............................................................................19 Singletree........................................................................ 20 Cordillera...........................................................................21 Wolcott.............................................................................22 Eagle & Eagle Ranch..................................................23 Gypsum.............................................................................24
SOURCE Sold residential and land properties within Eagle County, counting both listing and buy sides from January 1, 2021-December 31, 2021. Source of all data 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. ©2022 Slifer Smith & Frampton Real Estate.
S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 2
LOOKING BACK, FOCUSING AHEAD As 2022 begins with a few feet of fresh snow and the culmination of a postcard perfect holiday season that made our resorts world-renowned, the real estate market remains incredibly strong. In fact, the total Vail MLS sales volume for Eagle County in 2021 topped out at nearly $3.4 billion of which the Slifer Smith & Frampton team accounted for $2.5 billion of sales volume. The simple economic factors of limited supply and increasing demand continue to drive numbers to record-breaking heights in the Vail Valley.
We all know that the Vail Valley is a premier mountain community, and the lifestyle that comes along with property ownership has a broad appeal to buyers. Our clients want to put down roots and spend more time here, as evidenced by the robust absorption across all property types. For example, at the start of 2021 there was a 4.3-month supply of inventory, and in December the absorption yielded a 1.4 month supply of inventory. Buyers continue to migrate from urban centers to mountain communities like the Vail Valley. We’ve witnessed second homes turn into primary residences and people moving to our valley on a semi full-time basis. Now that we’ve moved from the office boardroom to the virtual meeting room, people are trading their metropolitan lifestyles for mountain town living, a place where they can spend time enjoying our mountain valleys. We expect to see these trends continue and for the market to remain strong as we launch into 2022. As we begin this New Year, one thing remains the same: Slifer Smith & Frampton provides our clients with the stability of a locally owned, community-oriented company that’s been in existence for 60 years. We are a founding member of Forbes Global Properties, a consumer marketplace and membership network of elite brokerages representing the world’s most luxurious homes. Already, we have seen tremendous growth and property exposure in the last year because of the partnership. Along with our affiliation with Luxury Portfolio International and Leading Real Estate Companies of the World, the firm is locally based while also having a global reach, which ultimately enables SSF to be a top producing company for Buyers and Sellers in Colorado’s luxury real estate market. As we celebrate 60 years in operation for our firm in 2022, it will be that same vision, foresight and innovation that will help guide SSF and the Vail Valley for the next 60 years.
MATT FITZGERALD Market President Eagle County
T H E S L I F E R R E P O R T E AG L E CO U N T Y 2 02 2 | 3
SALES VOLUME & MARKET SHARE SALES VOLUME COMPARISON
SALES VOLUME COMPARISON | SSF MARKET SHARE
S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 4
LUXURY SALES VOLUME & MARKET SHARE
Residential Sales Over $4million
LUXURY SALES VOLUME COMPARISON
LUXURY SALES VOLUME COMPARISON | SSF MARKET SHARE
THE LUXURY COLLECTION T H E S L I F E R R E P O R T E AG L E CO U N T Y 2 02 2 | 5
VAIL VILLAGE & LIONSHEAD
2021 breakdown
119 Vail Village Sales
66 Lionshead Sales
30.5M
$
SSF’s highest sale in Vail Village - represented Seller
S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 6
VAIL GOLF COURSE & CASCADE VILLAGE
2021 breakdown
22
Vail Golf Course Sales
12 Cascade Sales
64.5M
$
SSF’s closed sales volume #1 in market share
T H E S L I F E R R E P O R T E AG L E CO U N T Y 2 02 2 | 7
EAST VAIL
2021 breakdown
22.5M
$
Highest sale price for single-family residence.
-SSF represented the buyer & seller
111.2M
$
SSF’s closed sales volume 44% market share
S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 8
WEST VAIL
2021 breakdown
47
Vail Village Sales
28
Lionshead Sales
3.6M
$
Highest sale price for a duplex
T H E S L I F E R R E P O R T E AG L E CO U N T Y 2 02 2 | 9
MINTURN
2021 breakdown
14 Minturn Sales
11
Red Cliff Sales
2.1M
$
Highest sale price for singlefamily residence
S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 1 0
EAGLE-VAIL
2021 breakdown
14 days
Lowest average days on market for any neighborhood in the Vail Valley
3.5M
$
Highest sale price for singlefamily residence
T H E S L I F E R R E P O R T E AG L E CO U N T Y 2 02 2 | 1 1
AVON & WILDRIDGE
2021 breakdown
157M
$
SSF’s closed sales volume 39% market share
Riverfront Village
SSF represented the developments with the highest sale price and highest price per square foot in 2021 in Riverfront Village
S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 1 2
MOUNTAIN STAR
2021 breakdown
55.5M
$
SSF’s closed sales volume 40% market share
2
Single-family residences on the market in Mountain Star
-as of 1.12.22, compared to 8 last year at this time
T H E S L I F E R R E P O R T E AG L E CO U N T Y 2 02 2 | 1 3
2021
SLIFER SMITH & FRAMPTON’S
NOTABLE SALES IN EAGLE COUNTY
Vail Village | Represented the Seller
Vail | Represented the y Bu er & Seller
Mountain Star | Represented the Seller
Beaver Creek | Represented the y Bu er & Seller
Bachelor Gulch | Represented the y Bu er & Seller
Bachelor Gulch | Represented the Seller
S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 1 4
Vail Village | Represented the y Bu er & Seller
We are proud to be the only brokerage in Colorado with a full division dedicated to bringing new developments to market. Our end to end service has delivered another record year in 2021, creating more new homes in our communities than ever before.
To learn more, visit SliferDevelopmentSales.com >>>
EAGLE COUNTY NEW DEVELOPMENT PROJECTS
571
$ Million
2021 Sales Volume In 2021 our teams sold $571,257,858 in new development sales.*
BASECAMP ON THE CREEK Avon
343 New Homes Sold in 2021 In 2021 our teams sold 343 new homes to our valued clients.*
2
RESIDENCES AT RIVERFRONT Avon
Sold Out Projects In 2021 our team sold out 2 new projects in Eagle County.
2021 NEW DEVELOPMENT SALES OVERVIEW AREA
CLOSED VOLUME
CONTRACTS PENDING CLOSED VOLUME
PENDING TOTAL CONTRACTS VOLUME
TOTAL CONTRACTS
Eagle County
$95,915,378
47
$63,485,000
17
$159,400,378
64
Summit County
$10,773,000
15
$133,827,500
156
$144,600,500
171
Roaring Fork Valley
$42,413,003
17
$224,843,977
91
$267,256,980
108
Total
$149,101,381
79
$422,156,477
264
$571,257,858
343
*Pending and closed sales volume and sides 1.1.21-12.31.21
T H E S L I F E R R E P O R T E AG L E CO U N T Y 2 02 2 | 1 5
BEAVER CREEK
2021 breakdown
10.95M
$
Highest sale price for single-family residence.
-SSF represented the buyer & seller
340.5M
$
SSF’s closed sales volume 43% market share
S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 1 6
BACHELOR GULCH
2021 breakdown
334M
$
SSF’s closed sales volume 64% market share
16M
$
Highest sale price for singlefamily residence
-SSF represented the seller
2,288 Highest price per $
square foot
T H E S L I F E R R E P O R T E AG L E CO U N T Y 2 02 2 | 1 7
ARROWHEAD
2021 breakdown
225M
$
SSF’s closed sales volume 69% market share, our highest in Eagle County
10.6M
$
Highest sale price for singlefamily residence
1,056 Highest price per $
square foot
S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 1 8
EDWARDS
2021 breakdown
41 Edwards Sales
59 Homestead Sales
11
Lake Creek Sales
98.5M
$
SSF’s closed sales volume #1 in market share
T H E S L I F E R R E P O R T E AG L E CO U N T Y 2 02 2 | 1 9
SINGLETREE
2021 breakdown
48.8M
$
SSF’s closed sales volume 34% market share
3.9M
$
Highest sale price for singlefamily residence
834
$
Highest price per square foot
S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 2 0
CORDILLERA
2021 breakdown
223.7M
$
SSF’s closed sales volume 49% market share
6.5M
$
Highest sale price for singlefamily residence -SSF represented the buyer & seller
1,044
$
Highest price per square foot
T H E S L I F E R R E P O R T E AG L E CO U N T Y 2 02 2 | 2 1
WOLCOTT
2021 breakdown
31.6M
$
SSF’s closed sales volume 42% market share
8.45M
$
Highest sale price for single-family residence.
853
$
Highest price per square foot
S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 2 2
EAGLE & EAGLE RANCH
2021 breakdown
97
Eagle Sales
70
Eagle Ranch Sales
3.1M
$
Highest price for single-family residence
-SSF represented the buyer
90.8M
$
SSF’s closed sales volume #1 in market share
T H E S L I F E R R E P O R T E AG L E CO U N T Y 2 02 2 | 2 3
GYPSUM
2021 breakdown
124 Gypsum Sales
41
Cotton Ranch Sales
1.4M
$
Highest sale price for a ranch
507
$
Highest price per square foot condominiums
S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 2 4
2021 LAND REVIEW LAND SALES VOLUME COMPARISON
LAND SALES TRANSACTION COMPARISON
LAND SALES VOLUME COMPARISON | SSF MARKET SHARE
T H E S L I F E R R E P O R T E AG L E CO U N T Y 2 02 2 | 2 5
FROM ASPEN TO DENVER AND AROUND THE WORLD
FORBES GLOBAL PROPERTIES IN 2021
1 of 10
135
FOUNDING MEMBERS
WORLD-WIDE LOCATIONS
2,400
2,855
LUXURY EXPERTS
LUXURY LISTINGS FEATURED
WOLCOT T
70
GYPSUM
EDWARDS
TO DENVER >> 70
E AGLE
EAGLE COUNT Y AIRPORT
VAIL
AVON
ARROWHEAD
EAGLEVAIL
70
BACHELOR GULCH << TO GRAND JUNCTION
DOWNTOWN DENVER
70
CORDILLERA
BEAVER CREEK
SILVERTHORNE KEYSTONE RESORT
VAIL SKI RESORT
KEYSTONE
MINTURN
FRISCO
BEAVER CREEK SKI RESORT
70
GLENWOOD SPRINGS
NORTH COPPER MOUNTAIN BRECKENRIDGE SKI RESORT
BRECKENRIDGE
82
EL JEBEL CARBONDAL E WILLITS
BASALT
82
WOODY CREEK
SNOWMASS VILLAGE SNOWMASS SKI RESORT
ASPEN BUTTERMILK MTN ASPEN HIGHLANDS
Forb esGlobalProp erties.com >>>
ASPEN SKI RESORT
Established in 2020 with 10 founding members, the invitation-only network now spans 135 locations and comprises approximately 2,400 luxury property experts across the U.S., Asia, Australia, Canada, Mexico, the Middle East, and Europe. More than 100 million monthly visitors to forbes.com enjoy unrivaled access to an elite collection of properties presented within the hallmark context of trusted editorial content and timely market data. S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 2 6
CELEBRATING 60 YEARS
Founded on Bridge Street, Vail back in 1962 no one has a connection to Colorado
real estate quite like Slifer Smith & Frampton. Over the years we have grown to the hundreds of brokers you know today working in every neighborhood from East Vail to Gypsum, but our commitment to our valued clients remains as unwavering as ever.
Slifer Smith & Frampton THEN...
...and NOW
1 Broker
250+ Brokers
1 Office
16 Offices
Bridge Street, Vail
1 Market Just Vail
In The Vail Valley
4 Markets
From Aspen to Denver
ROARING FORK VALLEY | EAGLE COUNTY | SUMMIT COUNTY | DENVER T H E S L I F E R R E P O R T E AG L E CO U N T Y 2 02 2 | 2 7
STAY UP TO DATE ALL YEAR LONG Our team of market experts updates the Slifer Report every quarter. To see the latest numbers and dive even deeper into the report scan the code or visit:
VailRealEstate.com/Slifer-Report