Like the inches of snow currently accumulating in the Colorado Rocky Mountains, the number of luxury home sales within the Vail Valley real estate market (sales $3M ), also continue to rise. The number of luxury homes sold in the resort markets of Eagle County (Vail Valley and Beaver Creek), showed signs of significant increase year-over-year according to an October 2017 luxury market report prepared by LIV Sotheby’s International Realty.
Year-over-year, 13 homes with a price tag of more than $3M sold in October 2017, over 7 homes sold in October 2016, an 86% increase, according to data released by LIV Sotheby’s International Realty and information based on statistics from Vail Board of Realtors. Total sales volume rose 55% year-over-year, reaching $59,240,000 in October 2017, over $38,325,000, in October 2016. During that same time frame, number of days on market dropped 23%, from 223 days in October 2016, to just 171 days in October 2017, a very good time frame for the luxury home market, where homes over $3M typically stay on the market longer.
With Buyers’ continued desire to purchase luxury homes in one of the nation’s most lifestyle-oriented resort areas, the luxury real estate market in the Vail Valley will likely continue to rise. “The purchasers of these homes are families with multiple generations looking for places to bring everyone together in the winter and summer,” said Dan Fitchett, Managing Broker for LIV Sotheby’s International Realty, in the Vail Valley. “The Vail Valley continues to invest in a well-developed activity structure that provides entertainment for all ages of families. These activities, along with the allure of the Rocky Mountains, make a home in the Vail Valley a good investment.”
The most expensive residential sale in the Vail Valley in October, was a 9,893 square-foot residence located at 1003 Daybreak, Avon, CO, that sold for $9,250,000. The information above represents averages and varies among the different locations within the Vail Valley.
To access the full October residential luxury market report, click here.
The 2017/2018 Ski Season Delivers New Upgrades in Vail & Beaver Creek!
The Vail and Beaver Creek ski season is officially underway, and skiers and snowboarders can expect some new upgrades in the 2017/18 ski season. Beaver Creek has added 200-acres of new beginner terrain, 13 new trails dedicated to Ski School Skills Zones and Kids Adventure Zones and a high-speed upgrade to Chair 5.
Vail’s “Northwoods Express” Chair 11 has been upgraded to a six-seat Chair, bringing ski enthusiasts to the top of the mountain, faster!