Attracting buyers from around the world, the benefits of living in the Vail Valley are endless, including year-round activities, a tight-knit community feel, high-end shopping and dining, and spectacular mountain views. LIV Sotheby’s International Realty’s just released Micro Market Reports deliver positive results for the Vail Valley real estate market, moving into the 4th quarter of 2018.
Demand for real estate in the Vail Valley continues to rise, with decreased average days on market by 11.1% in 2018, compared to January through September of 2017, and increased average price by 11.5% to $1,237,349. Total dollar volume sold for all properties also increased by 9.8% in January through September of 2018, compared to 2017. For sellers, now is an ideal time to list your property in the Vail Valley with buyers spending more and inventory lowering.
Highlights for the Vail Valley include a 20% increase in average price of single-family homes in Beaver Creek and a 26.2% increase of highest price single-family home sold in Beaver Creek at $13.5 million in 2018. The Town of Vail saw a 19.3% increase in average price for all properties January through September 2018 compared to 2017, and nearby East Vail saw a 28% increase in average price for all properties as well.
Vail Golf Course/Spraddle Creek reported extremely notable increases for January through September 2018 compared to 2017 with a 188.7% increase in average price and a 219% increase in highest price for all properties. The highest price for Vail Golf Course/Spraddle Creek January through September 2018 is $18,500,000.
“The high increase for Vail Golf Course/Spraddle Creek was due to several key transactions,” said Dan Fitchett Jr., vice president and managing broker of LIV SIR’s Vail Valley offices. “But overall, the market continues to be increasing steadily in all categories.”
LIV Sotheby’s International Realty represented a significant sale of $23,000,000 of a ski-in/ski-out single-family residence in the Vail Valley. This impressive sale, as well as the noted growth in 2018, serve as a testament to the strength of the Vail Valley real estate market.
LIV Sotheby’s International Realty compiles quarterly and year-end reports of micro-market statistics to help you make effective real estate decisions. Contact your LIV Sotheby’s International Realty broker today or email [email protected] for a printed copy of our Micro Market Reports.