Vail Valley’s popularity continues to surge, attracting buyers across all markets as winter progresses
On Real Estate
As 2021 came to a close, December brought abundant snowfall and sales volume for the real estate industry throughout the Vail Valley. Across all price points, total sales volume in the Vail Valley increased 20% to $3,170,479,292 for 2021 from $2,646,251,179 for 2020, indicating that the value of mountain living is holding strong as we enter into 2022.
Total sales volume, and the numbers on the snow stake, were not the only numbers on the rise this month. Home values from East Vail to Eagle continued to surge through December 2021, with an appreciation rate of 24% across all price points.
While total sales volume and home values were on the rise, the number of listings sold throughout the market ticked down slightly from 1,685 in 2020 to 1,628 in 2021, proving that it is a seller’s market and buyers are moving quickly in the Vail Valley. The pace of the market is similar to the speed of a Birds of Prey ski racer, with listings across all price points selling 39% faster than last year at just 70 days on the market.
Known as Colorado’s premier vacation destination, it is no surprise that the Vail Valley’s luxury market continues to grow in popularity. Similar to the overall market, the $3 million and above luxury market saw an increase in 2021 of 57% for total sales volume at $1,699,395,548 compared to $1,079,747,230 in 2020. However, unlike the overall market, the luxury market saw a significant increase of 65% in the number of listings sold, with 296 listings sold in 2021 compared to 179 listings sold in 2020.
This 65% increase in luxury listings sold in the Vail Valley indicates that the higher end of the real estate market continues to be in demand, providing luxury living in a place like nothing on earth. Securing a slice of this mountain haven requires the same speed racing skills as we’ve seen in all price points — with luxury listings selling 37% faster in 2021 compared to 2020, and with properties having spent only 153 days on the market compared to 244 days last year.
These snowy statistics continue to prove that despite the monthly fluctuations, year over year, the Vail Valley is living up to its highly desired standards, attracting buyers from all over the world and across all price points, particularly $3M and above, at an expeditious rate. As we enter the best months of winter here in the Vail Valley, now is the time to get out on the slopes and, if you’re a potential seller, out in the real estate market.
To learn more about Vail Valley’s market performance and other regions of Colorado, visit ColoradoMarketreports.com. For all of your real estate needs throughout Colorado’s iconic resort communities, call 970-476-7944 or visit Resorts.Livsothebysrealty.com.