Real estate sales volume in the Vail Valley soars 59% higher this spring than in 2020
On Real Estate
Spring has officially sprung, and the Vail Valley is ripe with opportunities for home buyers and sellers to reach their real estate goals. As one of the top destinations for skiing in the state and a priority for those looking to invest in the outdoor-centric and resort lifestyles that this Colorado community has to offer, the Vail Valley is experiencing elevated activity levels within its local real estate market.
Each month, LIV Sotheby’s International Realty produces a market report that analyzes the performance of the Vail Valley real estate market to provide consumers with a snapshot of the current conditions. According to the February market report, the total sales volume for the area has increased by an astounding 59% compared to February of last year, totaling $337,501,338. Several factors have contributed to this impressive boost in sales volume for the Vail Valley.
It’s no surprise that the Vail Valley has been a popular location for home buyers to purchase their dream homes, vacation houses, or secondary residences. The unbeatable access to The Rocky Mountains, tight-knit community feel, and world-class shopping and dining make this area a buyer’s paradise. Data from the monthly market report supports this notion, showing a 24% rise in the number of homes sold last month compared to the same time frame in 2020.
Additionally, the days on market for Vail Valley homes has decreased from year-ago levels. In February of last year, the average number of days a home was available on the market was 137 days. Last month homes stayed on the market for an average of 132 days, a 4% decrease in time. While the change is not drastic, it does illustrate the continued demand of Vail Valley homes.
The heightened demand has also resulted in an appreciation of home prices over the last year. Currently, the average sold price for a Vail Valley home is $1,844,269, a 28% increase from last February when the average sold price was $1,444,398.
Looking at the luxury sector of the market, consumers will notice an even greater increase in buying and selling activity. In a year-to-date comparison of January through February to the same time frame in 2020, total sales volume grew by 116%.
The impressive 133% increase in total listings sold contributed to this incredible increase in total sales volume. Through February of this year there were 35 homes sold that were priced at or over $3,000,0000, compared to the 15 homes sold at that price point during the same time period last year. The average sold price for homes in this sector of the market was $4,982,312 through February of this year.
The Vail Valley provides a unique lifestyle that creates endless opportunities for both home buyers and sellers to reach their real estate goals. To learn more about the Vail Valley’s market performance, read the full Monthly Market Report by visiting coloradomarketreports.com. For all of your resort real estate needs, call 970-476-7944 or visit resorts.livsothebysrealty.com.