$674 Million Under Contract in August!
Consumer confidence continues to be high in terms of real estate throughout the Vail Valley with another record-breaking month in August.
UNDER CONTRACT UDPATE
August produced another truly unbelievable amount of new contracts with $674,080,772 worth of property going under contract which equates to 309 homes. Compare that to August of 2019 where 169 properties went under contract for $284,666,648. That is a $389.4M increase in dollar volume and a 137% increase in transactions. The average list price for homes that went under contract last month is just over $2.1M, which is significantly higher than we’ve seen over the last few months. Larger homes with higher price tags are back in demand with buyers lately. Clients are requesting slightly larger homes with the intention of using the additional space for home offices and also for the longer-term rental potential for families wanting to escape to the mountains.
SOLD PROPERTY UPDATE
The amount of sold volume was also significantly higher compared to August of last year. This August, 207 properties sold for over $380M with an average sold price of $1,753,383 (a 26% increase from the average sold price last year). In August of 2019, there were 134 properties sold for just over $194M. That is a $185.8M increase in dollar volume and a 95% increase in transactions.
Why Is There So Much Activity Right Now?
Your Mountain Escape Awaits
Village Center Condo #4E | Vail Village
2 Bedrooms | 2 Bathrooms | 907 Sq. Ft.
Offered For $1,900,000
Enjoy your quaint, tranquil, yet vibrant, easy living getaway with Vail Mountain views while at the center of it all. With a premium location in the core of Vail Village, this condo is sold fully furnished and has been recently refreshed with new bathrooms, carpet, paint, and stainless-steel appliances. You will be pleasantly surprised at the peacefulness surrounding the property as the sounds of Gore Creek perform below from the open living, kitchen, dining area and balcony overlooking Gore Creek with Vail Mountain as a backdrop. The residence is equipped with a year-round heated pool, hot tub, underground one-car assigned parking and is easily accessed with an elevator from the entrance of the building to the unit. With an easy walk to the Gondola, restaurants and shops within the village, this residence is the consummate mountain escape.
Upcoming Ski Season Adaptations
Vail Resorts Announces Projected Opening Dates & New Reservation System
This season Vail Resorts will be implementing a reservation system across each of their mountains. It is possible that at some point in the season, they may decide that they no longer need the reservation system at certain resorts.
Projected Colorado Opening Dates 2020/21 Season
- Beaver Creek | Wednesday, November 25, 2020 – Sunday, April 4, 2021
- Breckenridge | Friday, November 13, 2020 – Monday, May 31, 2021
- Crested Butte | Wednesday, November 25, 2020 – Sunday, April 4, 2021
- Keystone | Friday, November 6, 2020 – Sunday, April 4, 2021
- Vail | Friday, November 20, 2020 – Sunday, April 11, 2021