According to LIV Sotheby’s International Realty (LIV SIR), this summer has shown significant activity for Vail Valley real estate, with over $113,000,000 total sold just last month. Looking at the performance metrics provided within LIV Sotheby’s International Realty’s monthly report, there are some indicators that buyers of real estate in Vail Valley may see some benefits if they act quickly. Currently, the year-to-date statistics show a 16% increase in average days on market, allowing buyers a bit more time to make real estate decisions. According to the most recent Land Title market analysis, real estate sales continue to improve through 2019 as June produced the best month of the year in both dollar volume and transactions.
Interestingly, when looking at the Vail Valley luxury market, defined as $3,000,000 and above, sellers are seeing evident benefits, especially when looking at the apparent increase in average price per square foot. In just one month, there was a 65% increase in average price per square foot comparing July to June of 2019. In addition, the average price per square foot also increased by 30% when looking at July 2019 versus July 2018.
September of 2018 did show some increases in the number of listings sold and a decrease in average days on market, translating to an active market once again heading into the fall season.
CURRENT MARKET ACTIVITY
(Residential listings as of August 15th)
Active listings = 805
WOW! Under Contract August 1st – 15th = 84 with an average list price of $1,437,000 at $528/sf
Sold July 1- 31st = 127 with an average list of $913,000 and average sold of $886,000 at $429/sf
49 Lady Belle Way
My mountain modern home in the Cordillera Summit went under contract in just 45 days with a list price of $3,250,000!
The Front Range / Mountain Connection
Continued observation and feedback from Front Range clients and colleagues alike is confirming more people are moving into the Denver Metropolitan area. This equates to more Front Range people looking for second homes to enjoy the lifestyle which the Vail Valley has to offer. That in addition to increased remote working capability seems to be a driving force of continued activity here in the mountains.
Whether looking for a golf or ski home, ask me about homes which are both in MLS or not yet listed. And as always, please remember to subscribe to my YouTube channel as more content is continuously getting added.
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20 acres in Edwards with home and with the possibility of adding another home on site with no HOA – Not in MLS, contact me for pricing (under $3,000,000).
Pre-Construction Home with Gore Range views in small quiet neighborhood – Not in MLS, contact me for pricing (under $2,500,000).
439 acres in a gorgeous setting located in Edwards, perfect for legacy or multiple family compound - ($78,000,000)
CONTACT ME FOR DETAILS ON ANY OF THESE PROPERTIES - [email protected] or 970-471-5233.
AROUND THE TOWN
Even though we are now in the middle of August and still in the peak of summer, it is the perfect time to start thinking about winter plans. The transaction numbers above shows others are doing the same. If you are thinking about purchasing or selling a home which has rental potential, I have access of getting rental projections whether the property is currently rented or not!
A perfect example is my listing at 111 Knudson Ranch which has winter service from the front door of the home to the base of Arrowhead ski mountain. This four bedroom/4 bath home is listed at $1,175,000 and is located in a quaint gated enclave on the east end of Arrowhead, yet no transfer fee applies! Click here to see more information about this property.
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