Before the pandemic emerged in the United States, we knew living in the Vail Valley was special and unique. Our four-season valley thrives on recreation, adventure and community.
What we achieved in the spring and summer was how much individuals and families enjoyed the lifestyle of locals, returning guests and second home owners came to appreciate. The wave of new residents and those looking to make the valley their more permanent home was palpable and evidenced by the real estate sales figures in 2020.
A stock of $ 3 billion in sales is a record for any year. Looking down, our residential unit sales topped 1,700, 24% above last year’s levels. Residential volume in dollars exceeded by 52% 2019. Noble numbers.
While the holidays are typically a slower time of year, Q4 numbers produced a record number of sales, with sales of single-family and duplex homes up 67.25% and condos and townhouses in up 92.89% from same period in 2019. Although inventories still lagged behind sales, the fourth quarter showed increases over 2019, with listings up 4% for homes single-family / duplex and 7.044% for condos / townhouses. The biggest impact on inventory continued to be increased demand from buyers, which rose 74% between Thanksgiving and New Years during the same 2019 holiday period.
Sellers continued to benefit from strong buyer demand, with an average list price up 8.43% and an average selling price up 10.51% percent for the fourth quarter. Year-over-year totals jumped 19.86% for the average list price and 21.04% for the average selling price. Coinciding with increased demand from buyers, the number of days in the market continued to decline, down 11.2% on average to 111 days from levels in the fourth quarter of 2019, bringing the annual average to 123 days for 2020.
Downvalley
According to Rick Messmer, chief broker in the Eagle Ranch office of Berkshire Hathaway HomeServices Colorado Properties, 2020 has been a truly unprecedented year and the fourth quarter has followed suit.
All types of properties, from existing homes to new and custom homes, were mostly selling in less than a week and often in hours. The land listings also saw a sharp increase in interest throughout the year. “We’ve seen bidding wars over ‘dirt for a good price’ at Eagle Ranch as well as the new Stratton Flats townhouses in Gypsum, which sold out within days of release and won’t be delivered until the middle. or at the end of summer 2021, ”Messmer said.
This 3,199 square foot 4 bedroom / 4 bathroom home located at 279 Longview Avenue in Eagle Ranch sits on a corner lot in the Village Homes community and features a renovated kitchen and dining area as well. as immediate access to paved and off-piste trails. The house sold for $ 805,000 in early December 2020. Berkshire Hathaway HomeServices Colorado Properties
“Like all of Eagle County, inventory remains a dominant issue for 2021 and momentum appears to be continuing,” Messmer said. “Buyer interest remains at an all time high. This week, in less than 24 hours, there were several offers for a million dollar plus house at Eagle Ranch, ”he added.
Resort market
Kyle Denton, Associate Broker for Berkshire Hathaway HomeServices Colorado Properties and a member of the Denton Advisory Group, echoed that Vail and Beaver Creek had seen unprecedented prices and sales in 2020.
Lionshead Village’s newest offering, Elevation, offers contemporary mountain luxury, features state-of-the-art technology, air conditioning, owners’ ski locker, fitness center, ‘a private garage and a spacious living room. A total of eight private 3 and 4 bedroom residences as well as a penthouse are available for sale and construction will begin in spring 2021. Prices vary from …
News Highlights
- According to the source An unprecedented year for Vail Valley Real Estate
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