Vail Valley/Cordillera Real Estate Market Report YTD January 2020
Vail Valley/Cordillera Real Estate YTD January 2020 and Market Outlook
I’ve received a lot of feedback and have made some changes to this Report. Thanks for the good ideas! Keep them coming…..
East and West Vail have been consolidated into the Town of Vail (TOV) along with the homes located on the North Side of the Vail Valley which comprises Red Sandstone, Potato Patch, and Buffehr Creek. Some of the more obscure neighborhoods on the South Side of the TOV–Matterhorn, Highland Meadows and Cascade Village are now included as well. With the exception of Highland Meadows and Cascade Village homes are on or relatively near the free Town of Vail Bus Route.
Arrowhead is now included in this analysis as well as it makes sense being directly connected to the Beaver Creek ski complex.
This report focuses on the past 12 months (February 1, 2019 through January 31, 2020) and compares similar 12 month periods going back five years. January 2020 summary results are included.
All Focus Areas Currently For Sale and Sold Trends
Statistically the month of January does not tell us much but it gives us glimpses of what might come…..Volume of all properties sold in the focus areas continues to rise. YTD we’ve already surpassed $80M! In 2019 we had not even reached $70M at this point. The number of sales, however, is significant–this year we’ve already had 33 sales (in 2019 there were 28) which was higher than the previous 4 years…..
Town of Vail Single Family & Duplex YTD Over The Last 5 Years
TOV’s volume YTD is up significantly from previous years–thus far there have been $16M+ in transactions. Even more, 8 TOV Single Family and Duplex homes have sold this year compared to two last year with a high of four sales in 2017 YTD.
2020 has produced $28,835,000 thus far in Vail Village compared to $23M in 2019 and less in years prior. Vail Village average asking price is up as well to $8,587,500 (in 2019 it was $7.2M). The average sales price per square foot continues to rise being $2,072.93 compared to $1,636 last year. Even though there were no Single Family home sales in January in the Vail Village Core area the real estate market overall for the Town of Vail has started off very strong.
Beaver Creak Single Family Homes YTD For The Last 5 Years
Beaver Creek continues to hold its own with 2 detached homes selling for a total of $9M+ total volume. Also, eight TownHomes and Condos have sold thus far for a total volume of $18.5+M.
Arrowhead had just one Single Family sale in January for $3,150,000 on McCoy Creek Dr.– North side of Highway 6. There are, however, eight properties currently under contract. Cordillera has had a very strong start to 2020 with 4 homes already selling (2 sold in 2019 at this time) with a high price of $3.8M on Saddle Ridge Road. Even more, there are seven homes currently under contract showing a strong start compared to previous years. While people say we should expect a softening of the market the start of 2020 has been strong and should remain so for the next quarter.
Enjoy this month’s Market Report…..
If you want more in-depth information and a breakdown of different areas including East Vail, Cordillera, Vail Village, Lionshead, Vail Golf Course, West Vail, Beaver Creek and Bachelor Gulch download the full 15-page Vail Valley/Cordillera Real Estate Market Report YTD January 2020!
Helping You Make Informed Decisions Regarding Vail Valley/Cordillera Real Estate
I produce this monthly report to provide you with a high level overview by looking at the patterns and trends. My goal is to help YOU make sense of the numbers so you can make informed decision. It is my hope that this report helps you to ”See the Big Picture and All the Details!”
If you see a segment of the market that you would like additional help with understanding please contact me. Or if you desire a specific Home Estimate that I routinely prepare for my clients, please contact me, I would be happy to go to work and get that to you.
This report covers Single Family Homes, Condos and Townhomes for the Vail Valley and Cordillera area which includes the specific areas such as Cordillera, Vail Village, Lionshead, Vail Golf Course, East Vail, West Vail, Beaver Creek and Bachelor Gulch.
You will also see a ”slice” of the data by Price Range and by Area for Single Family Homes and Condos & Townhomes to provide a more insightful view of the market.
Get your Vail Valley/Cordillera YTD January 2020 Real Estate Market Report Now
How can I help you with Your Vail Valley/Cordillera Real Estate Needs?
This Vail Valley/Cordillera Real Estate Market Report YTD January 2020 and the level of detail is representative of what you can expect from me as your Real Estate Agent. I hope I can provide the same amount of expertise and insight for you when you are looking to buy or sell in the Vail Valley/Cordillera area.
Are you wondering what your home is worth in the current market? Do you have questions or want more information about something in the market report? Do you desire a specific Home Estimate that I routinely prepare for my clients? Please contact me or visit this link to get the ball rolling.
Robert Schilling
Coldwell Banker Global Luxury Specialist
Coldwell Banker Distinctive Properties
(970) 390-0705
[email protected]