Fall is a perfect time to buy a home in the Vail Valley
LIV Sotheby’s International Realty shares August real estate metrics for the Vail Valley
LIV Sotheby’s International Realty
As the end of summer nears, the Vail Valley is preparing for fall visitors and seasonal residents to make their way to this gorgeous area. This transition period of late summer and early fall, just ahead of the busy winter season, is an ideal climate for both buyers and sellers who are interested in making their next move, according to the data shown in LIV Sotheby’s International Realty’s monthly market reports.
Year-to-date performance of 2019 compared to that of 2018, shown in the August report, show a very slight decrease in total sales volume (-2%) and paired with the increase in average days on market (+10%), reveal that now might be the time for potential buyers to take action and purchase the mountain home they’ve had their eye on.
Homeowners who are contemplating selling their properties should also consider moving forward this month. Looking at the last 12 months, year over year there are some increases worth mentioning, including a 2% increase in total sales volume, a 4% increase in average sold price and average price per square foot, and a 4% increase in average list price — all good news for buyers.
The luxury real estate market in Vail Valley is seeing exceptional performance growth, with total sales volume increasing by 208% comparing August of 2019 to August of 2018. Listings sold also increased a notable 100%, rising to 10 listings in August of this year compared to five in August of last year. What’s even more impressive is the growth seen from comparing August of this year to July of this year. August revealed an outstanding 304% increase in total sales volume and a 65% increase in the average list price.
“As we head into fall there will be ample opportunities for both buyers and sellers in the Vail Valley,” said Dan Fitchett Jr., vice president and managing broker of LIV SIR’s Vail Valley offices. “Last month kicked off an upward trend for real estate performance, especially in the luxury sector, that we anticipate will last through the rest of this year.”
Whether buying or selling a home this season, now may be the time to take advantage of current market conditions. The monthly Vail Valley report provides detailed information to ensure you are up-to-date with local real estate, keeping your pulse on recent activity and trends.
To discuss buying or selling a Vail Valley residence, contact a real estate professional today by visiting resorts.livsothebysrealty.com or calling 970-476-7944.
Visit http://www.ColoradoMarketReports.com to view the latest monthly reports, dissecting the Colorado real estate performance.
For more information contact Amanda Molitor, public relations manager, at 303-486-3770.
LIV Sotheby’s International Realty, the exclusive Board of Regent for the Who’s Who in Luxury Real Estate, has 23 office locations in the resort communities of the Vail Valley, Breckenridge, Crested Butte, and Telluride, also including Denver Metro and the surrounding areas.
Through the end of July, both the number of transactions and sales volume — the price of those transactions — lagged behind 2018’s numbers by about 10%. According to the most recent data from Land Title Guarantee Company, that situation changed in August.