March / April 2012

In this report:
In the Spotlight: Vail Village
Significant Sales
Featured Listings
New Developments

Ascent Sotheby's International Realty is proud to hold 18% market share in Vail on a dollar volume basis for the 2011 calendar year.  With eleven brokers, we represented the most transactions of any real estate office in Vail last year.  So far this year, we are keeping pace with last year's success, representing 14% of residential sales in Vail.*

*Statistics are based on residential MLS data for Vail, Colorado, for the year ending December 31, 2011, and two months ending February 29, 2012.

Vail  (East Vail to West Vail)
Data Timeframe: 12/1/2011 – 2/29/2012
Homes Sold: 55
Average Sales Price: $1,554,555
Average Sales Price per Square Foot: $742
Average Days on Market: 332
Active Properties on Market at the Beginning of the Timeframe: 395
Active Properties on Market at the End of the Timeframe: 398
See All Active Properties »

Vail Village
Data Timeframe: 12/1/2011 – 2/29/2012
Homes Sold: 12
Average Sales Price: $2,671,917
Average Sales Price per Square Foot: $1,554
Average Days on Market: 286
Active Properties on Market at the Beginning of the Timeframe: 136
Active Properties on Market at the End of the Timeframe: 139
See All Active Properties »

Lionshead Village
Data Timeframe: 12/1/2011 – 2/29/2012
Homes Sold: 5
Average Sales Price: $3,395,000
Average Sales Price per Square Foot: $1,339
Average Days on Market: 560
Active Properties on Market at the Beginning of the Timeframe: 91
Active Properties on Market at the End of the Timeframe: 89
See All Active Properties »

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Click here for detailed market trends information for these additional neighborhoods:
 

Avon

Beaver Creek

Booth Creek

Cascade Village

Eagle Vail

East Vail

Highlands Meadows

Lionshead

Minturn, Redcliff

Mountain Star

Potato Patch

Sandstone, Lionsridge

Spraddle Creek

The Valley, Ridge at Vail

Vail Golf Course

Vail Village

West Vail North

West Vail South

Wildridge

In the spotlight: Vail Village

Vail Village is the original portal to Vail Mountain and is the heart of our resort community.  The close proximity to the Vista Bahn lift and Golden Peak, the pedestrian access to Village retail, restaurants, events and activities make it one of the most sought-after neighborhoods in Vail.  This submarket includes a mix of both brand new luxury and vintage condominiums and homes, all of which trade at a premium because of the many area amenities and conveniences. 

Vail Village 1
  • Proximity to the mountain, a strong amenity base and new luxury inventory have driven a huge increase in real estate values over the past decade. Additionally, Vail Resorts has continued to invest in the on-mountain experience and infrastructure, which has only elevated the resort relative to the competition.
  • Average real estate values have grown from under $700 per square foot in 2000 to almost $1500 per square foot in 2011. 
  • Steady high demand for luxury properties through 2008 lead to the "high water mark" of average sales prices of more than $1900 per square foot.
  • The average sales prices have stabilized at almost $1480 and $1600 per square foot over the past two years.
  • (Source for the above: The Stewart Title Annual Market Report)
   Vail Village 2
  • With monthly average sales prices of $1M to $7M, Vail Village is one of the most valuable real estate markets in the area.
  • In almost all months surveyed, the average sales price per square foot is more than $1000. For this past six months, this average has been trending upwards, and there is even new-found urgency in certain sub-markets.
  • The large swings in monthly average sales prices are due to the wide range of inventory in this market as well as the relatively small number of sales on a monthly basis.
  • (Source for the above: Vail Board of Realtors MLS)
 
Vail Village 3
  • Drop in inventory from 162 in February 2011, to 139 in February 2012. Well priced, quality inventory is being absorbed as a mix of foreign and U.S. buyers are eager to acquire such "blue chip" assets.
  • Despite significant inventory of units for sale, sales prices remain strong. There is little evidence of distressed selling in this luxury market.
  • Steady inventory compared to the monthly demand of less than 7 units over the past year.  Realisitic pricing and an effective luxury marketing platform are essential for success in today's climate.
  • (Source for the above: Vail Board of Realtors MLS)
   Vail Village 4
  • Like most luxury real estate in the Vail Valley, the average days-on-market for a sale fluctuates significantly and is based on a number of factors.
  • For the past year, the average sales price has been 86% of the list price, and 81% of the original list price.
  • This average discount has been very consistent over the past six months, yet each situation varies and it is essential to enlist the help of an expert broker to assist you in negotiating the best price.
  • (Source for the above: Vail Board of Realtors MLS)

Significant Sales

Gore Creek Place, #11

Gore Creek Place, #11

Lionshead, CO
Closing price: $7,500,000
Date sold: March 19, 2012

   Ritz-Carlton Residences #415

Ritz-Carlton Residences, #415

Lionshead, CO
Closing price: $4,085,000
Date sold: February 23, 2012

   731 Forest Trail

731 Forest Trail

Edwards, CO
Closing price: $2,500,000
Date sold: March 12, 2012

Featured Listings

1465 Aspen Grove

1465 Aspen Grove Lane

Vail, CO
6 bedrooms | 7 baths | 2 partial
$6,200,000
Learn More »

   All Seasons Penthouse

All Seasons Penthouse

Vail, CO
4 bedrooms | 3 baths | 1 partial
$4,600,000
Learn More »

   Vail Mountain View #205

Vail Mountain View Residences, #205

Vail, CO
3 bedrooms | 3 baths
$3,000,000
Learn More »

New Developments

405 Forest Road

Forest Road

  

Ritz-Carlton Residences

  

Arrabelle at Vail Square