May / June 2012

In this report:
In the Spotlight: Town of Vail (East Vail to West Vail)
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 16% of residential sales in Vail.*

*Statistics are based on residential MLS data for Vail, Colorado, for the year ending December 31, 2011, and four months ending April 30, 2012.

Vail  (East Vail to West Vail)
Data Timeframe: 11/1/2011 – 4/30/2012
Homes Sold: 121
Average Sales Price: $1,605,100
Average Sales Price per Square Foot: $861
Average Days on Market: 341
Active Properties on Market at the Beginning of the Timeframe: 396
Active Properties on Market at the End of the Timeframe: 375
See All Active Properties »

Vail Village
Data Timeframe: 11/1/2011 – 4/30/2012
Homes Sold: 30
Average Sales Price: $2,765,267
Average Sales Price per Square Foot: $1,672
Average Days on Market: 350
Active Properties on Market at the Beginning of the Timeframe: 137
Active Properties on Market at the End of the Timeframe: 127
See All Active Properties »

Lionshead Village
Data Timeframe: 11/1/2011 – 4/30/2012
Homes Sold: 15
Average Sales Price: $2,921,333
Average Sales Price per Square Foot: $1,352
Average Days on Market: 578
Active Properties on Market at the Beginning of the Timeframe: 91
Active Properties on Market at the End of the Timeframe: 82
See All Active Properties »

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In the spotlight: Town of Vail (East to West Vail)

With the 2011 and 2012 winter ski season behind us, the below statistics and charts represent a recap of the past two years with particular focus on the past ski season.  We are happy to report that the lackluster snow conditions did not translate into a lackluster winter real estate market.  Similar to reports that local retail spending and room rates have rebounded, the Vail real estate market has remained strong and is showing signs of improvement.  As you’ll see in the charts below, demand is up, supply is at a two-year low, prices have remained steady for more than two years, and have recently begun trending upward with the uptick in properties under contract.  With the prime summer sales season just ahead of us, now is a great time for both sellers and buyers to take a hard look at opportunities that this market represents.

 
Town of Vail Under Contract & Closed
  • Upward trend in the number of properties sold and udner contract compared to the lsat 24 months indicates demand for properties is up.
  • The slow down in transactions last summer and early fall that paralleled the trepidation in the world financial markets has come to an end.
  • This past winter season demonstrates consistent increasing demand over the course of the season with a steady increase in the number of properties placed under contract and sold.
  • March and April 2012 were particularly strong back-to-back months. Early reports indicate that May 2012 is continuing that trend.
  • (Source for the above: Vail Board of Realtors MLS)
  Town of Vail # of MLS Listings
  • Consistent drop in inventory to the lowest levels in the past two years.
  • Steady number of closings on a monthly basis since last September.
  • With 17 months of inventory based on April 2012 sales, competitive pricing is extremely important.
  • (Source for the above: Vail Board of Realtors MLS)
 
Town of Vail Sold Price
  • In April 2012, properties sold at 91% of list price on average - just over the 2-year average of 89%.
  • For all of 2012, the ratio of sales price to list price has remained within a few percentage points of the long-term average. This consistency is another example of a healthy real estate market with few signs of distress.
  • For the past two years, summer sales have occurred at a smaller discount from list price, making it a good time to have a competitively priced property on the market.
  • (Source for the above: Vail Board of Realtors MLS)
  Town of Vail Avg. Sales Price
  • Vail has many submarkets with very different value profiles.  With a relative few number of transactions with a wide variety of types of homes, the average sales price of a house has fluctuated between $1M and over $3.6M over the past two years.
  • Average sales prices per square foot fluctuate between $600 - $1600 psf on a monthly basis.
  • The spikes in average sales price and average price per square foot price in June 2010 and January 2011 were due to two blocks of initial closings on two new condominium projects.
  • The three-month moving average of the average price per square foot has been trending upwards since September 2011.
  • (Source for the above: Vail Board of Realtors MLS)

Significant Sales

405 Forest Road

405 Forest Road

Vail, CO
Closing price: $10,250,000
Date sold: May 3, 2012

  Ritz-Carlton Residences

Ritz-Carlton Residences, #416

Lionshead, CO
Closing price: $3,450,000
Date sold: April 6, 2012

  Gore Creek Place, #11

Gore Creek Place, #11

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

Featured Listings

Arrabelle at Vail Square

Arrabelle at Vail Square, #629

Lionshead, CO
5 bedrooms | 5 baths | 2 partial
$8,595,000
Learn More »

  Vail Mountain View

Vail Mountain View, #102/203

Vail, CO
4 bedrooms | 4 baths
$3,995,000
Learn More »

  Lodge at Vail

Lodge at Vail, #533

Vail, CO
2 bedrooms | 2 baths
$1,795,000
Learn More »