Luxury homebuyers seek to make the Vail Valley their permanent vacation destination
Summertime in the Vail Valley’s resort community is full of sunshine, fresh, fragrant mountain air, and plenty of real estate opportunities for those who wish to call this high-altitude haven home. A shift in the market may bring about new opportunities for those looking to buy their own mountain abode or sell a luxury listing this year.
According to the July Monthly Market Report from LIV Sotheby’s International Realty, the number of listings sold for all price points dipped by 25% last month. While this decrease is likely due to the decrease in inventory, it provides homebuyers with more leverage when making an offer on their next Vail Valley residence. However, sellers are still enjoying a steady rise in average sale prices, which rose by 23% to reach $2,106,550 in a year-to-date comparison to July 2021.
The luxury sector of the Vail Valley real estate market has maintained nearly the same levels of homebuying activity since the same period last year. Here, the number of luxury homes sold rose by 1% to reach a total of 133 through July of this year. The average price of those high-end listings sold was $6,006,319 – 9% higher than the previous year. This data tells us that luxury real estate is still a priority for consumers who want to claim the resort lifestyle for themselves.
The Vail Valley provides a resort lifestyle that creates endless opportunities for both homebuyers 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.