Mountain lifestyle, access to resorts, and outdoor recreation keep demand high for Vail Valley properties
On Real Estate
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The Vail Valley real estate market saw normalization in 2022 after record-breaking sales volume in 2020-2021. Throughout Eagle County, the average sale price of properties increased 10% from January to December 2022, although overall sales volume was off 23.4% due to reduced inventory. Properties were on the market for an average of only 36 days, down from an average of 70 days in 2021, as buyers made relatively swift decisions in this competitive climate over the past year.
Cordillera Valley Club had an exceptional year in 2022, with the average sold price up 55.5% over 2021, from $3.65 million to $5.67 million. Mountain Star saw a 43.6% uptick in average sold price from $7.03 million to $10.1 million. Homes in East Vail jumped 41.2% in average sold price in 2022, from $1.07 million to $1.51 million. Vail Village’s average price per square foot was $2,506, which was the highest in the area and a 15.5% increase over that figure in 2021.
The Singletree neighborhood in Edwards continues to be desirable for buyers, with the highest-priced property in 2022 selling for $4.6 million, which was an 18% increase over 2021. The average sold price in Wildridge/Wildwood increased 36.2% from $1.18 million to $1.61 million, and the highest-priced home in that neighborhood was $4.42 million. Eagle County’s highest transaction in 2022 was a record-breaking sale in Lake Creek for the Casteel Creek Estate that sold for $40 million.
Malia Cox Nobrega and Barbara Scrivens represented both the buyer and the seller in the transaction. To learn more about the market performance of the Vail Valley and other regions of Colorado, visit coloradomarketreports.com and view the Micro Market Report and Quarterly Luxury Report.
Renowned for its world-class skiing, the Vail Valley offers over 7,000 acres of lift-serviced terrain in Vail and Beaver Creek. This resort region has evolved into a year-round destination for visitors, with recreation options ranging from fly-fishing to hiking to mountain biking. The Eagle County Regional Airport provides service from twelve U.S. cities, making it an easily accessible locale for adventure. As buyers consider purchasing a vacation home or relocating full-time to the Colorado mountains due to remote workplaces, demand for properties remains healthy.
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For real estate needs throughout Colorado’s iconic resort communities, call 970-476-7944 or visit your local LIV Sotheby’s International Realty office. LIV Sotheby’s International Realty services the resort markets of Beaver Creek, Breckenridge, Crested Butte, Dillon, Telluride, Vail, Winter Park, and beyond. These legendary locations serve as a hub to discover your Colorado mountain dream home in the perfect setting for outdoor enthusiasts.
