With ski season now in full swing, many are spending their weekends in the mountains in search of fresh snow. Resort communities thrive during these winter months but are also great places to live all year round. For this reason, mountain towns have become increasingly popular destinations to purchase homes for a primary residence or a seasonal vacation home.
From Breckenridge to Telluride and beyond, each resort town has its own unique characteristics that attract people from all over to come live the high-altitude lifestyle. Access to some of the most magnificent mountain peaks, world-class skiing, hiking, biking, and more come with the territory of owning a home in a resort town. Since Denver is conveniently located near many of the resort communities, purchasing a second home in the mountains could be an ideal investment for locals to complement their city lifestyle.
LIV Sotheby’s International Realty (LIV SIR) produces an annual Resort Report that specifically analyzes real estate market data for homes in some of the most well-known resort communities in the West. Throughout 2019, many resort markets saw real estate success resulting in opportunities for both homebuyers and sellers to achieve their financial and lifestyle goals.
In Southwest Colorado, the town of Telluride experienced an impressive raise in the total dollar volume sold during 2019 in comparison to the previous year. Rising by 25.8%, this gorgeous resort community’s total dollar volume sold came to $401,017,928 in 2019.
Average sold prices for homes sold in 2019 rose the most in Crested Butte, Colorado. This community saw the average sold prices for homes grow by 25.7% over the course of 2019. The average sold price for listings in Crested Butte rose from $667,260 in 2018 to $838,671 in 2019.
Vail Valley is another popular spot for skiers, snowboarders, and snow-lovers alike. This resort town saw a 3.7% increase in the number of properties sold in 2019 compared to 2018. Last year, 1,399 homes sold in the Vail Valley compared to 2018 when 1,349 homes sold. This area also experienced a 4.4% rise in total dollar volume sold, bringing the total to $1,766,806,313.
For anyone interested in making one of these amazing resort communities their year-round or seasonal home, make sure you partner with a real estate professional who understands these complex and ever-changing housing markets. LIV SIR makes market data a priority and specializes in guiding homebuyers and sellers in their real estate journey. To learn more about the market conditions in resort communities, read the 2019 Resort Report at coloradomarketreports.com.
LIV Sotheby’s International Realty is Colorado’s leading luxury real estate firm with an emphasis on lifestyle. For all of your real estate needs, contact LIV Sotheby’s International Realty by calling 303.893.3200 or by visiting livsothebysrealty.com.