Vail Valley home sales soar by 96.8% through the first half of 2021
On Real Estate
At the halfway mark for year, the Vail Valley’s real estate market is showing no signs of slowing down. Thanks to the continued momentum from last year’s real estate surge, both buyers and sellers can reap the benefits of a hot housing market.
Looking at LIV Sotheby’s International Realty’s Q2 Micro Market Report, which examines market activity from January to June of 2021 and compares it to the same time frame last year, the Vail Valley’s housing market is flourishing.
Through June of 2021, home sales in the Vail Valley have soared by an impressive 96.8%, rising from 405 homes sold during the same time frame in 2020 to 797 homes sold so far this year. Perhaps what’s even more impressive is that the average sold price of those homes has appreciated by 21.4%, which brings the average sold price to $1,725,064 in 2021.
This surge in buying activity shows that consumers continue to prioritize resort real estate and finding homes that cater towards their desired lifestyles. Overall, the total sales volume rose by an astounding 138.7%, totaling $1,374,079,367.
Several individual communities within the Vail Valley saw increased buying and selling activity as well. The biggest increases in home sales were seen in the town of Vail, which sold 104% more properties this year than during the same time frame last year. In addition, property sales in Vail’s golf course community rose 300% over the ﬁrst half of 2020, and Beaver Creek realized an amazing 235.7% increase in property sales.
The average selling price of all types of properties also rose 21.4%, from $1,421,452 to $1,725,064 in the Vail Valley. The three neighborhoods that experienced the highest average price increases were Edwards-Lake Creek Valley, where prices rose 117.9%, Vail Golf, which saw an increase of 112.6%, and Arrowhead, which enjoyed a 71.7% increase from the ﬁrst half of 2020.
The luxury sector of the real estate market saw even more impressive increases in activity during the first half of 2021. Through June of this year, compared to the same time frame in 2020, the number of luxury listings sold within Eagle County rose by 235.3%. Although average sales prices dipped slightly by 9.9%, the total dollar volume sold in this resort community still increased by 202.2%, totaling $626,908,795.
This notable increase in luxury home-buying activity can be seen throughout many of the individual neighborhoods within the Vail Valley. In Lionshead, Beaver Creek, and Arrowhead, the number of luxury homes sold rose by 300% or more. The town of Vail had the most luxury property sales through the first half of the year, with 47 listings sold.
Arrowhead not only saw a significant increase in luxury property sales, but listings in this community also appreciated in price the most, rising by 53.5%, which made the average sale price for all property types $4,971,105 through June.
The Vail Valley provides a unique 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 Micro Market Report and Quarterly Luxury Report by visiting ColoradoMarketReports.com. For all of your resort real estate needs, call 970.476.7944 or visit Resorts.LivSothebysRealty.com.