Vail Valley Luxury Housing Market Demonstrates Significant Growth Year-Over-Year in October, Sales up 86%
Posted by Brittanny Harvard — November 17, 2017
DENVER, CO - Like the inches of snow currently accumulating in the Colorado Rocky Mountains, the number of luxury home sales in the Vail Valley real estate market continue to rise. In October, luxury homes priced $3 million and above saw an 86% increase in sales year-over-year, according to data released by LIV Sotheby’s International Realty and information based on statistics from Vail Board of Realtors. With the influx of potential Buyers entering the Vail Valley market for ski season and the holiday season, there is little evidence that the pace of sales will soon slow-down.
“Over the past 30 days we have continued to see luxury property in both Vail and Beaver Creek go under contract,” said Daniel Estrada, Broker, LIV Sotheby’s International Realty. “It seems evident that buyers are increasingly moving money into real estate and the excitement for resort property remains in demand. We believe that this trend will continue into our winter season. With new inventory coming into play, and qualified buyers ready to purchase that next exciting property, we expect great things for 2018."
Year-over-year, 13 homes with a price tag of more than $3 million 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 good time frame for the luxury home market, where homes over $3 million 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 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.
“The Vail Valley continues to invest in a well-developed activity structure that provides entertainment for all ages of families,” said Dan Fitchett, Vail Valley Managing Broker, LIV Sotheby’s International Realty. “This, along with the allure of the Rocky Mountains, makes a home a good investment here. The purchasers of luxury homes in the Vail Valley are families with multiple generations looking for places to bring everyone together in the winter and summer- in a place that’s proven to be an excellent place to invest.”
The information above represents averages and varies among the different locations within the Vail Valley.
For more information, contact Dan Fitchett, managing broker, LIV Sotheby’s International Realty, Vail, Edwards, Beaver Creek, at 970.471.1208. To service all your real estate needs visit www.livsothebysrealty.com.
Pictured: 3243 Daybreak Ridge Road, Beaver Creek. Listed for sale by LIV Sotheby's International Realty brokers, Tye Stockton and Tom Dunn for $8,495,000.
About LIV Sotheby’s International Realty
LIV Sotheby’s International Realty, the exclusive Board of Regent for the Who’s Who in Luxury Real Estate, has 14 office locations in the Denver Metro and surrounding areas, including Boulder, Castle Pines Village, Cherry Creek, Clayton Street, Denver Tech Center, Downtown Denver, Evergreen and the resort communities of Breckenridge and the Vail Valley. For more information, call 303.893.3200. To service all of your real estate needs visit www.livsothebysrealty.com.