Vail Daily column: Luxury sales show strength
The number of luxury homes sold (sales over $1 million) in the resort market of Eagle County (Vail, Edwards Beaver Creek, Avon) showed signs of increase year-over-year according to a November 2016 luxury market report released Wednesday by LIV Sotheby’s International Realty.
In November, Eagle County saw an especially high volume of activity, due to an increased number of international visitors and second-home owners in town seeking to purchase luxury residences in time for the current ski season.
Resort communities offer a relatively stable luxury market due to their abundance of top tier dining, shopping and year-round activities that rival major metropolises. In addition, there have been emerging job opportunities where professionals can find employment in small private finance firms, nonprofits and have the ability to work remotely with today’s global technology.
Reasons for sales
In Eagle County, luxury numbers show signs of increase with 34 homes with a price tag of more than $1M sold in November 2016, over 30 homes sold in November 2015, a 13 percent increase year-over-year (statistics pulled from Vail Board of Realtors, MLS). One reason the number of luxury home sales continue to rise, is that the inventory of luxury properties entering the market continues at a steady pace. There is consistent demand of buyers moving into the Vail Valley area seeking homes and existing residents upgrading or moving to other resort markets in similar pursuits.
A recent luxury property to enter the market is 1548 Via La Favorita in Edwards that is being sold for $21,850,000. The estate, an eight bedroom, Tuscan-inspired home, belonging to the man responsible for turning the beloved “Thomas the Tank Engine” into a childhood toy staple, is being sold because the owners wish to move closer to their children in California.
The proximity to the famous Colorado Rocky Mountains living in Eagle County affords continues to position Colorado as one of the leading resort community destinations worldwide. With the increasing desire for lifestyle-inspired home purchases, the resort market will continue to rise.
LIV Sotheby’s International Realty compiles a quarterly luxury market report to help consumers make better real estate decisions, whether purchasing or selling a home.
To access current market reports, visit http://www.coloradomarketreports.com. For more information, contact Dan L. Fitchett Jr., managing broker at LIV Sotheby’s International Realty, Vail, Edwards, Beaver Creek, at 970-471-1208. To service all of your real estate needs visit http://www.livsothebysrealty.com.
Brittanny Havard is public relations manager for LIV Sotheby’s International Realty.