The Vail Valley’s real estate market remains strong through Q3 of 2021
On Real Estate
As a premier resort destination, the Vail Valley has been, and continues to be, a highly sought-after community in which to buy and sell real estate. Home to two of the nation’s largest and most famous ski resorts — Vail and Beaver Creek — the region also comprises the White River National Forest, which oﬀers 2 million acres of sublime natural beauty and year-round recreational opportunities. This community provides a lifestyle that truly helps residents live a life they love.
This way of living, which attracts home buyers from across the country and the globe, has allowed the Vail Valley to maintain much of the real estate momentum from 2020’s home-buying surge through September of 2021. LIV Sotheby’s International Realty produces a quarterly Micro Market Report focused on the Vail Valley, which includes Vail, Beaver Creek and the greater Vail Valley, and the region’s performance in the first three quarters of 2021 compared to the first three quarters of 2020.
According to data collected in the report, the Vail Valley saw a 20.6% increase in the number of properties sold through September of this year to the same time frame in 2020. Not only were more homes sold, but the average price of sold homes appreciated by 10.1% to reach an average price of $1,764,519. While these numbers are less staggering than those reported at the mid-year mark, they still show a steady increase that reflects the ongoing desire of buyers to settle in the Vail Valley.
Zooming in, data reveals that certain areas saw large increases in the average price of homes sold compared to the same time period in 2020, including Cordillera (Divide, Summit, Ranch) at a 42.3% increase, Cascade with a 43.9% increase, Edwards – Homestead at a 48.7% increase, and Edwards-Lake Creek Valley at a whopping 68.9% increase. Other neighborhoods throughout the Vail Valley saw smaller upticks and a few even experienced slight decreases in the average price of home sales.
With winter just months away and ski season on the horizon, many consumers may be planning to purchase their very own ski home or vacation residence. Some areas that cater to that lifestyle have seen increases in the number of homes sold so far this year.
For example, in Vail Village there was a 102.3% rise in property sales through September of this year compared to the same time frame in 2020. Beaver Creek also saw a significant increase in home sales, growing by 108.5%. The number of people relocating to Colorado’s resort communities continues to climb, and Eagle County is clearly one of their most desired landing points.
Several neighborhoods saw a boost in the number of properties sold and an increase in the pace of the market. Vail Village saw a drop in average days on market from 295 days on market in 2020 to 151 days on market this year and nearly doubled the number of properties sold compared to the same time frame last year. Similarly, EagleVail and Avon experienced a 46.2% increase in home sales and a 61% decrease in average days on market — illustrating the heightened level of demand in the area.
The Vail Valley provides a resort lifestyle that creates endless opportunities for both home buyers and sellers to reach their real estate goals. To learn more about the Vail Valley’s market performance an, read the full Q3 Micro Market Report by visiting ColoradoMarketReports.com. For all of your resort real estate needs, call 970.476.7944 or visit Resorts.LivSothebysRealty.com.