Brokers say low snowpack has translated to fewer buyers in Eagle County real estate market

Vail’s historically low snowpack is having an impact beyond just the quality of ski turns at Vail and Beaver Creek and the potential for a very dry spring and summer. The lack of snow has meant fewer guests during critical months for Eagle County’s real estate market.

“Things have slowed down a little bit,” admits Craig Denton, managing broker with Berkshire Hathaway. “People that might have been here to buy just didn’t come; they’ve gone somewhere else. Because I had two beautifully, exquisitely redone condominiums in Lionshead … and very limited showings. Usually at Christmastime, you can’t get into anything because they’re all occupied and mine were not occupied because they didn’t rent them out.”

Denton says that’s a telltale sign that visitors who might be inclined to shop for properties that time of year, while enjoying a ski vacation, were heading to other destinations given Vail’s low snowfall totals (still just 133 inches this season as of Wednesday).

Vail Resorts in mid-January reported that with snowfall down 60% in the critical early part of the season through the holidays, skier visits were down 20%. That meant far fewer potential real estate buyers.

“People went somewhere else to either go skiing or to the beach because they could,” Denton said. “They could afford to change their plans and go somewhere else that has a little more snow. I think a lot of us have been trying to decide, if it snowed, would that move the needle or is it a pricing issue in order to move the needle?”

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Following the very warm and dry months of November, December and January, Vail and Beaver Creek have seen an uptick in more wintry weather in February but the jury is still out on whether that will translate to more guests heading into the spring, when March is typically one of the snowiest months in Colorado.

“No one can really put their finger on it, in my opinion, to make the right decision,” Denton said on pricing to sell in the spring. “And if you do adjust pricing, are you just competing against yourself? And so, we’ve decided to kind of hold with our pricing. We keep thinking that if we get some good snow here in March, we’ll get some people back for spring skiing. But it’s probably going to have to wait until spring and summertime (for the market to bounce back).”

Andy Forstl of Forstl Realty in Vail agrees things have slowed significantly this season due to the lack of snow.

“It’s going to be slow until the 4th of July,” Forstl said of real estate sales, although he said the property management side of his business is still hanging in there.

“All of my rental guests are still coming; I’ve got pretty strong rentals, although we haven’t gotten any new rentals. So it’s been rentals that were booked prior to the ski season,” Forstl said, adding sales are still hanging in there as well. “I’m getting showings. I got a few things under contract, so people are definitely willing to negotiate a little more right now.”

Still, Forstl admits the lack of snow has impacted the number of people skiing and shopping for properties.

“Most of my Front Range clients have started playing golf,” Forstl said. “My East Coast clients (where there’s been good snow) are staying there, that’s for sure. And the lack of snow definitely did not bring in the high-dollar buyers. They went to the beach.”

Global politics and economic uncertainty aside, interest rates continuing to drop below 6% could provide a sales boost locally.

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“At least people are actually thinking about, instead of buying all cash, doing it in the loan again,” Forstl said, adding motivated sellers need to get out in front of the slow market. “I’m advising people to get (properties) listed ASAP. Stuff that’s priced well and is good product is still moving. We’re still seeing a lot of things going under contract.”

Denton says 2025 was an adjustment year in terms of real estate investment, but he believes the reality has set in that interest rates are unlikely to fall back below 3% any time soon.

“I think 2025 for some people was a slowdown in some areas because there were adjustments going on economically, just a lot of things going on in the world,” Denton said. “And people have finally realized interest rates are pretty much going to be where they are. They may adjust a little bit here and there, but people are finally starting to understand that this is where they are, which is below the national average over all the years.”