As a well-known luxury market, the Vail Valley drives visitors and buyers from around the world to experience the year-round activities, the tight-knit community feel, the high-end shopping and dining, and of course the spectacular mountain views.
LIV Sotheby’s International Realty produces a Micro Market Report focused on the Vail Valley and the neighborhoods within it. As a whole, Eagle County saw a slight increase in average price by 1.3% for Q1 of 2019 compared to 2018, increasing the average price for this year to $1,335,706. Interestingly, condos, townhomes and duplexes saw the highest development in number of sold listings, increasing by 2.4% to 169 sold in 2019.
Highlights for Eagle County include a number of impressive increases in average price including the most notable, a 68.5% gain for Minturn bringing the average price to $1,087,500 in 2019 compared to $645,413 in 2018. Other significant expansions in average price include a 30.9% increase in all properties for Edwards – Singletree, a 27.8% increase for all properties in West Vail & Cascade, and a 23.8% increase for all properties in Arrowhead.
A number of areas within Eagle County also escalated with the number of properties sold, with the most impressive being Vail Course/Spraddle Creek increasing 200% to six properties sold in 2019 compared to two properties sold in 2018 for January through March. Following closely behind, West Vail & Cascade increased 150% for properties sold to 10 in 2019, from four in 2018.
The Vail Valley is truly an international destination and continues to display luxury price points for real estate sales. Interested sellers can benefit from these luxury price points and buyers can take assurance in knowing their investment is in a world-renowned destination that continues to bring enhanced interest.