Although there were only two sales over 3 million that closed in September, The number of luxury homes sold (sales over $3 million) Vail Valley has increased by 8% year-over-year through September 2017. 82 homes with a price tag of more than $3M sold from October through September in 2016-2017, over 76 homes sold in October through September in 2015-2016. Total sales volume rose 19%, reaching $474,260,000 over $396,973,842, from October through September year-over-year. This means higher priced homes within the the luxury segment are selling compared to the same period last year.
With snow falling in the Colorado Rocky Mountains, Buyers continue to seek to purchase luxury homes in anticipation of the 2017/18 ski season, positioning the Vail Valley for continued growth. We are seeing an incredibly active market during the “shoulder season” this year so I expect this upward trend to continue into the next couple of months.
I currently have several properties under contract ranging in listing prices from $625,000 to $8,000,000. The resort markets in Vail and Beaver Creek are the hottest markets right now but properties under $1,000,000 are doing very well throughout the Valley. Prices up to $2,000,000 are hot in Vail and Bachelor Gulch single family homes have been on fire recently with one 12 million dollar sale recently closing with two more pending.
The most expensive residential sale that closed in September in the Vail Valley was a 5,072 square-foot residence located at 76 Holden Road, Beaver Creek, CO, that sold for $3,325,000. This was an older property in generally considered in need or remodeling.
To access the full September residential luxury market report, click here.
To access the full September real estate report for all properties, click here.