Vail Valley home prices increase as demand for resort-area properties stays strong
On Real Estate
Although the Vail Valley real estate market has cooled over the past 12 months, the allure of world-class skiing and year-round mountain adventure continues to attract visitors and home buyers. Demand for homes in the Vail Valley is strong, and home prices and average price per square foot continue to increase.
In February 2023, the average price per square foot for listings at all price points in the Vail Valley was $993, an increase of 16% over 2022. The average list price rose 9% from $2.25 million to $2.46 million. The highest sold price was $20.5 million, up from $19 million. For properties listed above $3 million, the average price per square foot was $1,753, ticking up 40% from the previous year. The average list price was $6.18 million for a modest 3% increase.
LIV Sotheby’s International Realty brokers continue to set the benchmark in the Vail Valley, representing buyers and sellers in several significant sales since the beginning of 2023. A penthouse residence in the Beaver Creek Lodge recently closed for $8.895 million, listed and sold by LIV SIR brokers David McHugh and Heather Losa. A newly constructed home on Elk Track Road in Beaver Creek closed for $8.195 million in February, listed by LIV SIR broker Matt Blake. LIV SIR broker Scott Bandoni represented the buyer for a home in the Greens at Arrowhead which closed for $4.675 million.
Located along the fourth fairway of the Vail Golf Course, the estate at 1119 Ptarmigan Road offers peak mountain living with a wrap-around deck, floor-to-ceiling stone fireplace, and stunning views of the iconic Gore Range. Offered by LIV SIR broker Matt Blake, this home is adjacent to 4.25 acres of dedicated open space.
In the desirable enclave of Lake Creek, Casteel Creek provides just 10 owners with access to the amenities at the Coyote Lodge & Sporting Club, the 28,000-square-foot facility with a 65-foot climbing wall, lap pool, indoor tennis and pickleball, golf simulator, and fitness facilities. The Ridge House and other Casteel Creek properties, offered by LIV SIR brokers Malia Cox Nobrega and Barbara Scrivens, offer private groomed trails for hiking, snowshoeing, and snowmobiling and are just minutes from resort skiing, dining, and shopping.
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With over 7,000 acres of lift-serviced terrain in Vail and Beaver Creek, this region is a year-round destination for visitors, with fly-fishing, hiking, and mountain biking. The Eagle County Regional Airport provides commercial service from 12 U.S. cities and a Jet Center, making it an easily accessible destination to launch mountain adventures.