No matter the season, Vail Valley is always a good idea. Homebuyers seem to think so too. The real estate market in this highly coveted resort community during 2019 saw positive activity that is encouraging for both buyers looking to invest in property and sellers hoping to make a profit on their mountain homes.
LIV Sotheby’s International Realty produces a Year End Micro Market Report focusing on the real estate performance for Eagle County, which makes up the Vail Valley, for 2019 compared to 2018. Total sales volume for Eagle County grew by 4.4%, reaching $1,768,165,313 by the end of 2019. As a whole, attached homes (condominiums, townhouses, and duplexes) saw more sales (+8%) last year.
Several communities within the Vail Valley experienced noteworthy increases in the number of property sales closed in 2019. The most impressive rise was seen in Edwards – Lake Creek. This community had a 450% uptick in properties sold in 2019 when 11 homes were sold, compared to 2018 when only two homes were sold. Another dramatic increase in properties sold took place in Vail Golf Course and Spraddle Creek where the number of sales more than doubled, climbing by 120%. During 2018, 10 homes in this neighborhood sold compared to 2019 when 22 homes sold. Other neighborhoods included in the Vail Valley such as Booth Creek, Potato Patch, Sandstone, Lionsridge, Buffehr Creek, and Highland Meadows also saw rises in sales activity, with the number of sold homes growing from 53 in 2018 to 76 in 2019, a 43.4% difference.
Out of all of the neighborhoods measured in the 2019 Year End Micro Market Report, Bachelor Gulch experienced the most drastic increase in average price for single family homes. Average price for single family homes in this community grew from $4,000,000 in 2018 to $7,648,750 in 2019, a 91.2% increase. Not far behind, Edwards – Lake Creek also saw a boost in average home prices. Rising by 82%, the average property price for listings in this neighborhood rose from $1,597,500 in 2018 to $2,907,273 in 2019.
“Throughout 2019, the Vail Valley real estate market showed signs of steady growth,” commented Dan Fitchett, vice president and managing broker of LIV Sotheby’s International Realty’s Vail Valley offices. “Slightly lower inventory combined with eager buyers ready to purchase properties in this resort market create conditions that provide opportunities to sellers.”
The real estate market within the Vail Valley is showing signs of health through a gradually increasing number of sales in many cities throughout Eagle County. Learn more about how your real estate goals can be achieved by calling 970.476.7944 or visiting resorts.livsothebysrealty.com. To view the 2019 Year End Micro Market Reports produced by LIV Sotheby’s International Realty, visit coloradomarketreports.com.