Homebuyers continue to fall in love with the Vail Valley
On Real Estate
One of the biggest trends in real estate right now is the shifting preferences of homebuyers from wanting residences in urban settings, to searching for homes with more privacy and space. This change in priorities has created a surge in buying and selling activity in resort real estate markets, such as the Vail Valley.
Over the last few months, the market has yielded success for both buyers and sellers looking to achieve their lifestyle and real estate goals in the Vail Valley. Through the month of September, LIV Sotheby’s International Realty reported that there was an amazing 29% increase in total sales volume, in a year-to-date comparison of 2020 to 2019. This drastic rise in sales volume speaks to the heightened demand for homes in the Vail Valley.
The average list and sold prices of homes in the Vail Valley saw an increase, which also contributed to the rise in total sales volume. Both the average list price and average sold price for properties in this area grew by 26%. As of September, the average list price for Vail Valley homes was $1,688,307 and the average sold price was $1,602,374.
The luxury sector of the market, defined as homes priced at, or over, $3,000,000, continues to perform extremely well. Total sales volume for luxury homes rose by an incredible 62%. The amount of luxury homes sold through September of this year had a major impact on the overall sales volume achieved. Through September of this year, compared to the same time period in 2019, there was a 42% increase in the number of luxury homes sold, from 73 homes sold to 104 homes sold. Additionally, the average sold price of these properties has risen 14%, making the average sold price for luxury homes $6,635,474.
The highest-priced sale that took place in the Vail Valley last month, which is also the highest-priced sale in Beaver Creek so far in 2020, was that of 246 Strawberry Park Court. LIV SIR brokers, David McHugh and Heather Losa, represented this stunning, slopeside listing in Beaver Creek which sold for $12,375,000 in September.
The seven-bedroom, 10-bathroom ski-in/ski-out estate features soaring beamed ceilings, a grand stonework fireplace, and breathtaking views of Gore Range and Beaver Creek Mountain. When it comes to representing the finest luxury properties in the Vail Valley, only LIV SIR, backed by over 275 years of brand heritage, can deliver the quality that buyers and sellers deserve.
As more people make the decision to escape the mountains of Colorado, the Vail Valley real estate market will continue to thrive. To learn more about the real estate market in the Vail Valley and to view the September Market Report, visit coloradomarketreports.com. For all your real estate needs, call 970-476-7944 or visit resorts.livsothebysrealty.com.
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