I hope you had a wonderful Valentine’s Day and feel as loved as I do! February is off to a great start, so check out the latest news and market reports below.
Vail Lift Line Apocalypse
You may have heard about the incredible lift lines that formed on Vail Mountain after we received over 38″ of snow in 48 hours – a top 5 snowfall event in 58 years! This storm was one for the history books, but many of you have asked me what happened? Well, the mountain was ready to go, but the avalanche danger from receiving that much snow in two days was too high a risk. Because of that, Vail Resorts decided that they couldn’t open all of the back bowl terrain and safely manage the crowd waiting to partake in the epic powder. But, after the lines had dissipated and the skies cleared, the conditions were still epic. Happy skiing everyone!
Showing Some LOVE This Month
Low inventory continues to be a trend this month as we only have 631 active residential properties on the market right now. With $55,000,000 already sold within the first two weeks of the February 2020, I expect to the month to finish strong. It’s interesting to note that the average sold price has increased 37% to $1,482,750 compared to this same period last year, when the average sold price was less than $950,000.
I closed on a $1.7M property this month and I have four others set to close this Spring. The market is active!!
*Data Source: Vail Board of Realtors MLS
Reports, Reports, Reports!
This annual report specifically analyzes real estate market data for 12 ski resorts across the country with the cooperation of 9 Sotheby’s International Realty affiliates. This report helps educate consumers who are looking to buy a home, looking to sell a home, or who are just curious about the latest real estate trends within resort markets.
The 2020 Economic Update provides a focus on confidence and capital, expanding on critical components for continued economic growth, written by Steven Kirby, Executive Vice President, Financial Officer for LIV Sotheby’s International Realty.