Every quarter, LIV Sotheby’s International Realty produces a Micro Market Report focused on Eagle County’s market performance, which includes the Vail Valley. For quarter one, this report is a year-over-year comparison of the first quarter of 2021, compared to the first quarter of 2022, analyzing January through March. Real estate brokers in the Vail Valley continued to face a fast-paced market filled with eager buyers and sellers throughout the first quarter of 2022. In Eagle County, the total sales volume year-over-year remained relatively steady, decreasing slightly from $592,470,067 in 2021 to $557,080,674 in 2022. While sales volume was down minimally, the average sold price continued to rise, increasing 28.7% bringing the average sold price in the first quarter of 2022 up to $2,255,387. The slight decrease in overall sales volume can be attributed to the ongoing trend of a scarce inventory market in which the Vail Valley saw a 26.9% decrease in listings sold year-over year for quarter one. From January to March of last year, 338 listings were sold, and this year only 247 listings were sold. This indicates that as the market’s inventory lessens, the value of owning property in the Vail Valley will continue to rise proportionately with the area’s popularity.
According to LIV Sotheby’s International Realty’s (LIV SIR) Q1 Micro Market Report, which compares real estate data through March of this year compared to the same frame in 2021, the number of homes sold across the six-county Denver Metro area decreased slightly in comparison to the exponential growth that the market was experiencing last year. Through March of this year, there have been 10,740 homes sold – down 11.1% from 2021.
Despite the small decrease in property sales, home values in the area are still appreciating, incentivizing sellers to list their homes on the market and in turn creating additional inventory for buyers to choose from. During the first quarter of the year, the average price for a single family home in Denver Metro by 16.1% – bringing the average single family home price to $743,411. Looking at attached homes, the average price through Q1 was $467,706 – a 16.7% increase.
According to the year-end Micro Market Report, produced by LIV Sotheby’s International Realty, which summarizes Denver Metro’s market performance during 2020 in comparison to 2019, the Mile High City had a record year. While the city had a decline in inventory, dropping 2% from 2019 levels, bringing just 67,495 new listings onto the market last year, rising appreciation for available single family (+9.6%) and attached homes (+4%) paired with a boost in overall listings sold (+13.5%) contributed to the 22.4% increase in overall sales volume in 2020.
Heightened demand for Denver Metro homes placed buyers in stiff competition due to a limited number of listings last year. These conditions accelerated the timeline for many buyers and sellers, decreasing the average days on market for Denver Metro homes by 21.9%, from 32 days in 2019 to 25 days in 2020.
As far as real estate is concerned, 2020 was a rollercoaster with surprising ups and downs. However, in the end, Colorado’s one-of-a-kind lifestyle, stunning homes, and natural scenery helped the real estate market come out on top, yielding some of the most impressive increases in market activity seen in the past five years. With more consumers focusing on finding residences that enhance their overall lifestyles, communities across the state saw surges in luxury home buying and selling that wrapped the year up on a good note.
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.
Combining the best of city and open space, it’s no wonder that Denver Metro is consistently ranked as one of the best cities to live in the nation. The Mile High City, and the colorful communities that surround it, provide its residents with all of the amenities, dining, and shopping options that are expected of an urban setting with the added bonus of being centrally located to endless outdoor adventures. With more than 200 city parks, miles of biking and walking trails, and easy access to the Rocky Mountains, Denver is a social distancing sanctuary – making it a hot spot for homebuyers looking to invest in a new place to call home.
LIV Sotheby’s International Realty reports on the Denver Metro real estate market, which is sectioned into 50 unique neighborhoods. When comparing the Q3 performance of 2020 to that of 2019, sold listings have increased by 2.4%, which illustrates the consumers’ desire to purchase homes in Colorado’s capital city and surrounding communities. The average sold price for single family homes through Q3 showed an upward trend, growing by 6.6.%, bringing the average sold price to $562,917. The average sold price for attached residences rose by 3.3%, making the average sold price $372,918. As a result of these price increases paired with the rise in listings sold, the overall total dollar volume sold rose by 0.5% through Q3 when the total reached $19,752,971,957 compared to last year when the total sale volume reached $19,649,402,461.
Within the 50 neighborhoods that make up Denver Metro, many neighborhoods experienced noteworthy activity through Q3 of 2020. Properties in Greenwood Village under one acre saw an impressive increase in listings sold, growing by 81.1%. Through Q3 of this year, there were 67 homes sold in this community compared to the same time frame in 2019 when there were 37 homes sold. City Park, a neighborhood popular for its location near downtown Denver and the green space of City Park, also saw an increase in properties sold, growing by 35.4%.
Average home prices in the City of Denver grew by 1.3% through Q3 of this year in comparison to the same time period last year. The average price of homes in this area was $548,153 during January through September. Properties over one acre in Cherry Hills Village saw the most significant increase in average price, rising by 25.7%. The average price of homes set on over one acre in Cherry Hills Village through Q3 was $3,286,691.
Thanks to the demand for properties in Denver Metro, the days on market for all neighborhoods decreased by 10.3%, dropping from 29 days to 26 days. Out of the 57 neighborhoods that makeup Denver Metro, Sloan’s Lake saw the most dramatic decrease, falling from an average of 51 days on market to just 18 days – a 64.7% difference.
Denver Metro caters to a variety of lifestyles, from urbanites to outdoor enthusiasts, and everything in between. As more consumers decide to make the Mile High City their home, the real estate market will continue to thrive. Here, both buyers and sellers can reach their lifestyle and financial goals in the housing market.
This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Baker, Belmar, Berkeley, Bonnie Brae, Belcaro, Bow Mar, Capitol Hill, Cheesman Park, Cherry Creek, Cherry Hills Village, City Park, Columbine Valley, Congress Park, Cory-Merrill, Columbine Valley, Country Club, Crestmoor Park, Downtown (condos), Golden Triangle, Greenwood Village, Hale Mayfair, Heritage Greens, Highlands, Hilltop, Homestead, Jefferson Park, Ken-Caryl North Ranch, Ken-Caryl Valley, Lakewood, LoHi, Lowry, Montclair, Observatory Park, Park Hill, Platt Park, Polo Reserve, RiNo, Sloan’s Lake, Southglenn, Southern Hills, Southmoor Park, Stapleton, Sunnyside, Tallyn’s Reach, Uptown, Washington Park East, Washington Park West, and West Highlands.
Consistently ranked as one of the best cities to live in the U.S., Denver Metro is an epicenter for art, culture, music, business, and adventure. The Mile High City and its surrounding communities have something for everyone, as you can enjoy many lifestyles. From professional sports, gourmet restaurants, stunning street art, and iconic live music venues, Denver has it all. What’s more, each neighborhood within Denver County is as unique as the snowflakes that grace this city in the winter. These characteristics and features such as amazing public parks, access to public transportation, and other amenities are what attract homebuyers from across the country.
LIV Sotheby’s International Realty reports on the Denver Metro real estate market, sectioning into 58 neighborhoods. Collectively, comparing the Q1 performance of 2020 to that of 2019, sold listings increased by a notable 8.1%, which brought 10,888 sold listings to the market. The average price in Q1 showed an upward trend, growing by 6.6% for single family homes and 3.9% for condominiums. As a result, the overall total dollar volume sold rose by 13.4% in Q1 when the total reached $5,248,863,111 compared to last year when the total sales volume reached $4,629,021,069.
Within the 58 neighborhoods that make up Denver Metro, many neighborhoods experienced noteworthy activity throughout Q1 of 2020. Southglenn saw a formidable increase in properties sold, growing by 133.3%. During Q1 of this year, there were 14 homes sold in this community compared to the same time frame in 2019 when there were just six homes sold
Single family homes and condominiums in Cherry Creek East and South saw the greatest increase in average price during Q1 of 2020, of 50.6%, in a comparison to Q1 of 2019. Through March of this year, the average price for single family homes and condominiums in this community rose more than in most other neighborhoods.
Homebuyers in Crestmoor were very motivated during Q1 of 2020. Listings in this community were on the market for 78% less time, averaging only nine days in Q1 of this year compared to 41 in Q1 of 2019. Heritage Greens also saw a drop in average days on market, decreasing by 60.6% , from 71 days in the first quarter of 2019 to 28 days in the same time period this year.
Because of an active and continually growing real estate market, Denver Metro’s array of neighborhoods present buyers and sellers with opportunities to reach their real estate and lifestyle goals.
This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Baker, Belmar, Bell Mountain Ranch, Berkeley, Bonnie Brae, Belcaro, Bow Mar, Capitol Hill, Castle Pines North, Castle Pines Village, Cheesman, Cherry Creek, Cherry Creek North, Cherry Hills Village, City Park, City Park, Cory-Merrill, Columbine Valley, Congress Park, Country Club, Crestmoor, Downtown (condos), Golden Triangle, Greenwood Village East, Greenwood Village West, Hale Mayfair, Heritage Greens, Highland, Highlands Ranch, Hilltop, Homestead, Jefferson Park, Ken-Caryl North Ranch, Keen Ranch, Ken-Caryl Valley, Lakewood, LoHi, Lonetree, Lowry, The Meadows, Montclair, Observatory Park, Park Hill, Platt Park, Polo Reserve, Pradera & Timbers, RiNo, Saddle Rock Golf Club, Sloan’s Lake, Southglenn, Southern Hills, Stapleton, Sunnyside, Tallyn’s Reach, Uptown, Washington Park East, Washington Park West, and West Highlands.
The Vail Valley, located within Eagle County, is the epitome of a Colorado resort community. Incredible skiing in the winter and unbeatable scenery for summer activities such as hiking, biking, golfing, fishing, and ziplining, attract people from all over the world. Live out your mountain dreams in one of the beautiful towns that collectively make up Eagle County, including the Vail Village, Beaver Creek, Edwards, Avon, and Cordillera. These communities keep things fresh with a healthy mix of luxury amenities and more casual, local offerings. Finding your happy place is never hard in a resort community such as this.
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, in Q1 of 2020 compared to Q1 of 2019. Total sales volume for Eagle County grew slightly by 1.2%, reaching $332,356,420 in Q1 of this year, an uptick from when the total sales volume was $328,335,339 in Q1 of 2019.
Just down the road from Denver are the thriving neighborhoods of South Metro found in Douglas County. This area is quickly becoming one of the most popular places for shopping, dining, entertainment, and business. Communities within South Metro like The Village at Castle Pines, Castle Rock, Highlands Ranch, and Lone Tree are home to great neighborhoods with iconic developments, new construction, and plenty of opportunities for homebuyers and sellers to achieve their real estate goals.
LIV Sotheby’s International Realty produces a South Metro Micro Market Report analyzing the real estate performance during 2019 compared to that of 2018. Douglas County reported positive activity in its real estate market throughout 2019 including a 4.8% increase in new listings and a 5.7% rise in total dollar volume sold. Additionally, 2.9% more homes in Douglas County sold in 2019 than 2018.
Of the 18 neighborhoods that make up South Metro, many saw increases in home prices. Lone Tree had the highest increase in home prices over the last year. Homes in this area rose in price by 28.2% since 2018, making the average price for a home $873,140.
The number of properties sold grew in several communities as well. By far the most notable increase was seen in Backcountry. In a comparison from 2018 to 2019, there were 56.8% more listings sold in Backcountry in 2019. The Meadows also increased in sold listings during 2019. This community near Castle Rock has 24 miles of trails and contains 1,100 acres of parks as well as land for public use, had a 21.2% increase in properties sold.
Homes in South Metro are going more quickly in some areas than others. The average days on market for listings in Bell Mountain Ranch dropped by 35.4% making the average days on market for houses in this area 102 days during 2019. The Village at Castle Pines also appears to be a high demand area as the average days on market decreased in this community as well. The average time a home spent on the market in 2019 was 93 days, a 34% reduction from when the average was 141 days in 2018.
Growing popularity and the addition of more entertainment options are attracting more people to this area and fueling a very active real estate market in the South Metro.
This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Backcountry, Bell Mountain Ranch, Broadmoor, Castle Pines, Castle Pines Village, Castle Rock, Colorado Springs, Diamond Ridge, Firelight, Highlands Ranch, Inverness, Keene Ranch, Larkspur, Lone Tree, Parker, Pradera & Timbers, Sedalia, and The Meadows.
Resort communities are each unique and offer an abundance of activities drawing in many to live the sought-after resort lifestyle. These high-altitude homes have the privilege of access to some of the most incredible mountain landscapes and proximity to world-class skiing. Due to the incomparable location of these resort regions, LIV Sotheby’s International Realty produces an annual report that specifically analyzes real estate market data for homes in the mountains. This report helps educate consumers who are looking to buy a home, looking to sell a home, or who are just curious about the latest real estate trends within resort markets.
Tucked away in valleys and hidden behind towering mountain peaks, communities in resort towns tend to feature more luxury listings since affluent buyers are attracted to the opulent, and often exclusive, lifestyle that these areas can provide. Seasonality, location, less availability of homes listed for sale, and other factors typically drive home prices in these communities upwards, fueling the continually growing resort luxury home market.
When considering making a real estate investment in one of these incredible resort or mountain communities, take a close look at the market data to ensure that you are making the best financial and lifestyle decision for you and your family. LIV Sotheby’s International Realty is committed to educating consumers and assisting them in reaching their real estate and lifestyle goals.