VAIL VALLEY Year End , 2018 Micro Marketing Report
The benefits of living in the Vail Valley are endless, including year-round activities, a tight-knit community feel, high-end shopping and dining, and spectacular mountain views. Attracting buyers from around the world, the Vail Valley real estate market continues to prove as healthy and active.
2018 resulted in a year of high demand for Vail Valley real estate with an 11.1% increase in average price, combined with a 6.5% decrease in average days on market. In addition, sold listings also decreased by 2%, but total dollar volume sold increased by 8.8%. This increase in average price and total dollar volume sold, combined with a decrease in average days on market and sold listings means sellers benefited in 2018 as buyers were acting quick and paying more. Buyers also benefited as the sold price to list price percentage remained flat (meaning buyers were paying what they were expecting to pay).
A notable highlight for the Vail Valley is an outstanding 171.3% increase in average price for the Vail Golf Course/Spraddle Creek neighborhood, from an average price of $2,217,462 in 2017 to $6,016,275 in 2018. Beaver Creek also reported an impressive increase of 100% in single family homes sold, from 10 in 2017 to 20 in 2018.
Due to the increased demand for real estate in the Vail Valley, four neighborhoods saw a dramatic decrease in average days on market of 30% or more: Bachelor Gulch (single family homes), Cordillera, Lionshead, and Wildridge/Wildwood. Bachelor Gulch revealed the highest decrease of 51.8% average days on market for single family homes, to just 134 days in 2018 – a very quick timeframe for single-family homes in the luxury market of the Vail Valley.
Other highlights for the Vail Valley include impressive increases in average price: 19.8% increase for the Town of Vail, 20.7% increase for Vail Village, 24.8% increase for East Vail, and a 28% increase for Arrowhead.
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, Wildridge/Wildwood.