Vail Valley | Q3 2020
One of the most popular resort destinations in Colorado is the Vail Valley. Known for its world-class skiing and luxurious resort lifestyle, this mountain community features some of the most amazing homes on the market. Surrounded by the natural beauty of the Rocky Mountains, these neighborhoods offer residents the chance to live a life many only dream of. Now that more people are flocking to mountain communities in search for an escape from city-living, Vail Valley’s real estate market is booming.
LIV Sotheby’s International Realty produces a Micro Market Report focusing on the real estate performance for Eagle County, which makes up the Vail Valley, from January through September of 2020, compared to the same time period of 2019. Total sales volume for Eagle County grew by a remarkable 29.6%. While the number of sold listings only increased by 2.6%, several very high-priced sales pushed the average sold price and the total sales volume upward. Overall, the average sold price for homes in Eagle County rose by 26.3%, bringing the average price for homes in the area to $1,601,877.
In Vail Village, average sold prices rose by 97.9%. This dramatic increase is largely due to $29,750,00 sale of a stunning single family home which was represented by LIV Sotheby’s International Realty. Homes in Lionshead also saw a significant rise in average sold prices, growing from $2,233,852 through Q3 of 2019 to $2,586,921 through Q3 in 2020, a 15.8% increase.
Bachelor Gulch experienced a rise in the number of properties sold through September of this year compared to January through September of last year. When looking at all property types, this community saw a 144.4% increase in listings sold. East Vail also experienced a boost in the number of homes sold through September of this year. So far in 2020, there have been 62 home sales, a 31.9% increase from the same time frame last year when 47 homes sold.
The Vail Valley has long been a leading market within Colorado and will continue to be one of the most popular regions to buy and sell homes. The surge of real estate activity is a positive sign that the market’s strength will carry over into the remainder of the year.
This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Arrowhead, Avon, Bachelor Gulch, Beaver Creek, Brush Creek, Cordillera, Cordillera Valley Club, Eagle, Eagle Ranch, Eagle-Vail, East Vail, Edwards – Lake Creek Valley, Edwards – Singletree, Edwards & Homestead, Gypsum, Lionshead, Minturn, Mountain Star, Vail Golf Course & Spraddle Creek, Vail Village, West Vail & Cascade, and Wildridge/Wildwood.