Vail Valley Real Estate Market Report February 2015

In February transaction and dollar volumes slumped a bit although given the huge January production (141% above last January) 2015 year-to-date sales are still ahead of 2014. As mentioned in my January market report, the FIS World Ski Championships and unseasonable weather in the second half of winter are going to have an impact on transactions in the coming months. Click here to read January’s comments on that subject.

 

Transactions continued to increase in Eagle County in February despite the lower sales demonstrating that the highest end of the market was much weaker in February. Beaver Creek was still the hottest area with more than $16 million in sales over 9 transactions, averaging $1.8 million per sale. This upward trend is continuing in Beaver Creek and now averages are over $2 million per sale. It is not uncommon for the Vail market to recover ahead of Beaver Creek, Bachelor’s Gulch, and Arrowhead and we are now seeing those areas start to catch back up as buyers are seeing opportunities in those areas.

 

Vail Village and Lionshead had just 6 transactions with over $24 million in sales averaging around $4 million per sale. The single highest luxury sale for February was a duplex at 330 Beaver Dam Road in Vail Village. The trend of luxury buyers looking for newer more contemporary products continues as this property was remodeled down to the studs in an elegant mountain contemporary style. Please note that on page 12 in my report you will see it states the home sold for $2,342 per square foot. This is not accurate due to the recent addition that the Eagle County records failed to include in their report when calculating the price per foot. As you can imagine, no homeowner likes to point out additional square footage.

 

The actual price per foot based upon the listing broker was $1509 per square foot.

 

Click below for the full report in Issuu Magazine format or here for the full report in pdf.