Current Residential Market in Cordillera
Divide, Ranch and Summit
- 59 Active*
- 0 Under Contract*
- 8 Sold since**
*As of December 13, 2016 | **As of November 14, 2016
Current Residential Market in the Vail Valley
- 698 Active*
- 69 Under Contract**
- 123 Sold**
*As of December 13, 2016| **As of November 14, 2016
With the holidays fast approaching, I can’t believe we are close to starting a new year! I’ve lived in the Vail Valley for over 32 years and am looking back at all of the changes which have taken place over the years including population growth, neighborhood changes, new businesses and services, and even the new high speed Chair 9 (formerly the super slow Chair 17) on Vail mountain.
Over the years I have lived from one end of the valley to the other; from East Vail when I first moved here to Cotton Ranch in Gypsum for 10 years. In between I lived in Avon, Eagle-Vail, and Singletree three times over including where I now reside. It is fascinating to see how the homes in which I lived have evolved. My first home was an old “A” Frame ski cabin on a corner lot in East Vail. That eventually got leveled and was bought by a developer who replaced it with a high end duplex on the lot. The home in Eagle-Vail I owned in the 80’s was one of only a handful of homes built on that street at the time is now blended within the family neighborhood. When I first bought my golf course home at Cotton Ranch it was a small tight knit community with continuous social events almost nightly. Years later, the upper mesa at Cotton Ranch got developed, and the golf course went from a semi-private club to being bought out by the Town of Gypsum.
My friends thought I was crazy for moving way out west from Eagle-Vail to Singletree in 1992. There were many lots undeveloped at the time and the area known as Riverwalk was yet to be developed. Lot sales began in Singletree around 1979 and homes were being built in the early 80’s. Hard to believe some of the homes in Singletree are now 30-35 years old! And then there is one of my favorites, Cordillera. My parents owned a home on Colorow Road when it was nothing more than a dirt road with only a few neighbors on that same road. It was in the early 1980’s, when I would drive up to visit my parents and likely see the old homesteader known as “Bearcat” wondering about on his property in his overalls caring for his animals. Cordillera wasn’t conceived yet, but was a glimmer in the developer’s eyes.
Cordillera has evolved into a community of both full time and part time owners. Many of the homes are now pushing 20 years old and some are 25 years old. There were eight sales since November 14th with an average price of approximately $1,850,000 and a price per square foot of $322. There are three homes which were built in 2015 or newer currently listed. Prices for these homes range from $1,995,000-$2,795,000 and ppsf ranging from $406-$501. We are also starting to see some remodeled properties coming to market. As more homes become remodeled or built, prices of these homes will be higher in ppsf than the older homes. Any potential buyer or seller needs to have their broker really understand the market as the price per square foot varies depending upon location, views, finish level, remodeled, new construction, type of property and whether an enclave or single family lot. So much to consider, yet one of the reasons I enjoy the real estate business so much is because it is ever changing!
If you have questions about the Cordillera market and are considering selling or purchasing, contact me any time on my cell phone 970.471.5233.