January / February 2012

In this report:
In the Spotlight: Lionshead
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 for the year.  In addition, our average Days On Market for our listings is the lowest of all our competitors at 122 days.*

*Statistics are based on MLS data for Vail, Colorado, for the year-to-date ending December 31, 2011.

Vail  (East Vail to West Vail) Year-In-Review
Data Timeframe: 1/1/2011 – 12/31/2011
Homes Sold: 202
Average Sales Price: $1,712,000
Average Sales Price per Square Foot: $832
Average Days on Market: 198
Active Properties on Market at the Beginning of the Year: 488
Active Properties on Market at the End of the Year: 385
See All Active Properties »

Vail Village Year-In-Review
Data Timeframe: 1/1/2011 – 12/31/2011
Homes Sold: 38
Average Sales Price: $3,532,000
Average Sales Price per Square Foot: $1,682
Average Days on Market: 220
Active Properties on Market at the Beginning of the Year: 165
Active Properties on Market at the End of the Year: 137
See All Active Properties »

Lionshead Village Year-In-Review
Data Timeframe: 1/1/2011 – 12/31/2011
Homes Sold: 33
Average Sales Price: $2,868,000
Average Sales Price per Square Foot: $1,434
Average Days on Market: 98
Active Properties on Market at the Beginning of the Year: 86
Active Properties on Market at the End of the Year: 86
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: Lionshead

Lionshead is one of the premier neighborhoods in Vail.  Proximity to the mountain, the quality of the real estate, and vast amenity base make it one of the most desirable neighborhoods in Vail, particularly for condominium buyers and owners.  These fundamentals along with the construction of several large luxury buildings over the past five years have driven the phenomenal growth in values over the past decade. 

Lionshead1
  • Proximity to the mountain, a strong amenity base, and quality real estate inventory have driven a steady increase in real estate values in Lionshead over the past decade.
  • Unlike most other submarkets in Vail, Lionshead has not seen much pullback in value since the peak of the market in 2008.
  • With the exception of large project sales in 2008 and 2009, steady demand for units of between ~20 and ~40 units.
  • (Source for above with the Stewart Title Annual Market Report)
   Lionshead2
  • Very consistent real estate values over the past two years.  The 3-month moving average of sales price per square foot hovers between $1300 and $1400 per square foot.
  • With average sales prices per month of $1M to $6M, Lionshead is primarily a luxury condominium market.
  • Spikes in average sales price per square foot in late 2010 reflect initial closings on the Ritz Carlton Residences.
  • (Source for this chart and all the remaining is the VBR MLS)
 
Lionshead3
  • Drop in inventory from 134 in December 2009, to 90 in December 2010, to 86 in December 2011. Best quality inventory is being absorbed, especially in the new projects.
  • Despite significant inventory compared to a steady demand, average sales price has remained steady as shown in the previous chart.
  • The Ritz Carlton Residences has been the dominant influence in these numbers over the past 15 months.  The RCR represents 31 of 56 sales (55%) and RCR’s 17 listings in the MLS represent 20% of inventory on the market as of December 2011.
  • Steady inventory compared to the annual demand.  Realistic pricing is important.
   Lionshead4
  • With the exception of December 2011, there has been a steady rise in sales price as % of list price. 
  • This consistent market gives sellers a strong indication of value of their real estate.  Properties that sell are priced right.
  • The significant drop in December 2011 is primarily due to the final sale at the Tower Residences.  This transaction was a developer selling its final unit in the building and wrapping up the project.

Significant Sales

Arrabelle at Vail Square #643

Lionshead, CO
Closing price: $7,100,000
Date sold: August 31, 2011

  

387 Beaver Dam Circle

Vail, CO
Closing price: $6,525,000
Date sold: November 14, 2011

  

50 Spruce Lane

Edwards, CO
Closing price: $4,400,000
Date sold: October 31, 2011

Featured Listings

1003 Lake Creek

1003 Lake Creek

Edwards, CO
8 bedrooms | 9 baths | 1 partial
$10,995,000
Learn More »

   44 Willow Place

44 Willow Place

Vail, CO
4 bedrooms | 4 baths | 1 partial
$7,500,000
Learn More »

   Arrabelle #642

Arrabelle at Vail Square, #642

Lionshead, CO
4 bedrooms | 5 baths
$6,250,000
Learn More »

New Developments

405 Forest Road

Forest Road

  

Ritz-Carlton Residences

  

Arrabelle at Vail Square