With the new year just around the corner, many have already begun planning for 2020. For home buyers and sellers wanting to close out their year by making a move or investing in a home, the real estate market is still performing well and showing strength as 2019 comes to an end.
Each month, LIV Sotheby’s International Realty (LIV SIR) analyzes the various Colorado markets by looking at performance comparing 2018 to 2019 statistics year-to-date and the last 12 months – year over year. The purpose of these reports is to assist home buyers and sellers by keeping them informed with the latest performance updates on local real estate trends. With this valuable information, consumers can make more informed financial decisions.
Total year-to-date sales volume in Vail Valley through the month of November, increased by 6% compared to the same time frame of 2018. The number of homes sold grew slightly, rising 2% from 1,269 listings sold in 2018 to 1,296 listings sold in 2019. Similarly, the average sold price of homes in the Vail Valley increased by 3%. The average sold price for a home in Vail Valley rose from $1,213,104 January through November of 2018 to $1,253,968 through the same time frame of this year. The increasing sold price could be explained by the parallel rise in average listing prices throughout the area. The average list price for a home in Vail Valley year-to-date through November of 2019 is $1,329,549, a 3% increase from the same time frame of 2018.
The luxury market in this beloved resort community saw even more recent success. Homes in the luxury sector of the market, defined as houses priced at or over $3,000,000, experienced an impressive 83% spike in listings sold during the month of November in 2019 compared to the month of November in 2018. This substantial increase in the number of sold homes contributed to the even more remarkable 140% increase in total sales volume for the same time period. The average sold price for this sector of the market for the month of November also grew by 31%, making the average sold price of a luxury home $6,236,659. Looking at the last 12 months, year over year for the luxury sector also revealed a rise in performance with a 13% increase in total sales volume, a 7% increase in the number of listings sold and the average list price, and a 6% increase in the average sold price.
The sale of 223 Beaver Dam Road stands out as one of the most significant sales during the month of November. This home, listed by LIV SIR brokers Tye Stockton, and Tom Dunn, sold for an astounding $10,300,00 last month. The gorgeous, newly built residence overlooks Gore Creek in Vail Village, giving its new owners views of Colorado’s natural beauty.
The highly sought-after Vail Valley housing market is showing signs of strength and stability well into the final weeks of 2019. Consult with a trusted real estate advisor today to learn more about how your real estate goals can be achieved by calling 970.476.7944 or visiting resorts.livsothebysrealty.com. To view the monthly reports produced by LIV Sotheby’s International Realty, visit coloradomarketreports.com.