Vail Valley real estate market remains active
Special to the Daily
The last month of 2019 proved to be a productive month for homes in the Vail Valley real estate market. According to statistics reported in LIV Sotheby’s International Realty’s monthly market reports, both buyers and sellers in the resort communities within the Vail Valley experienced favorable market conditions during the month of December.
Total year-end sales volume in the Vail Valley increased by 4% compared to the same time frame of 2018. The number of listings sold also rose by 4% over the last year. The average sold price for homes in this region remained nearly the same as compared to the previous year, with an increase of 1%.
The current average sold price for listings in the Vail Valley is $1,262,074. Similarly, the average list price held steady, increasing by 1% from $1,329,674 in 2018 to $1,338,110 in 2019. The period of time homes in the Vail Valley typically spend on the market lengthened slightly, growing by 5% from 116 days to 122 days, which is typical for resort homes.
Just before 2019 ended, some impressive home sales took place in these coveted mountain and resort towns. One of the most notable sales during the month of December for the Vail Valley was the purchase of 120 Holden Road for $4,615,000 in Beaver Creek. LIV Sotheby’s International Realty represented both the buyer and seller, with David McHugh, Heather Losa, and Jeffrey Morgan representing the seller and Chris Scherpf representing the buyer.
4870 Meadow Lane was also a notable sale, which sold for $3,559,810 and was listed by LIV SIR broker Malia Cox Nobrega. This brand-new modern mountain home is a rare find in the Vail Valley with a flexible floor plan that encompasses four bedrooms and six bathrooms.
Another significant sale last month was the purchase of 728 West Lionshead Circle R-4. LIV SIR broker Patrick Barrett represented the buyer of this spectacular penthouse at The Ritz-Carlton Residences in Vail. This elegant listing, which sold for $3,795,000, is conveniently located at the base of Vail Mountain within walking distance of exceptional shopping and restaurants.
Each month, LIV SIR analyzes the various Colorado markets by looking at performance comparing 2019 to 2018 statistics year-to-date and the last 12 months — year over year. The purpose of these reports is to assist home buyers and sellers by keeping them informed with the latest performance updates on local real estate trends. With this valuable information, consumers can make more informed financial decisions.
As we kick off 2020, time will tell what the new year will bring regarding the real estate market in the Vail Valley. Some of the market’s momentum from December may carry over into January and provide opportunities for success to interested home buyers and eager sellers. Learn more about how your real estate goals can be achieved by calling 970-476-7944 or visiting resorts.livsothebysrealty.com. To view the monthly reports produced by LIV Sotheby’s International Realty, visit coloradomarketreports.com.
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