Just like that, another ski season has come and gone in the Vail Valley! While the weather and the snow were less-than satisfactory, we wanted to know if it had an impact on the market compared to other ski seasons. So we took a look back and compared the last 5 seasons (according to Vail’s opening & closing dates) and their number of transactions, total sales volume, and average sales price.
Very interesting indeed!! The market did better this season than the last 5 seasons in terms of # of transactions and overall sales volume. The obvious question here is why? The lack of snow may have played a factor, with potential buyers finding it easier to miss a day on the slopes to look at property. Another factor could be overall market confidence. The Vail Valley is thriving despite record low inventories, and we have heard from several brokers that buyers who have been casually looking at real estate for several years finally made the move and bought residential or land listings.
A few quick ski season stats throughout the resort markets (Residential, 11/17/17-4/15/18):
- The highest sale of the season was 122 Strawberry Park Road in Beaver Creek, which sold for $13,500,000
- 13 homes/condominiums sold in Vail Village, with an average sales price of $3,697,600
- 32 homes/condominiums sold in Lionshead, with an average sales price of $2,708,719
- 49 homes/condominiums sold in Beaver Creek, with an average sales price of $2,304,507
- 13 homes/condominiums sold in Bachelor Gulch, with an average sales price of $2,746,654
- 13 homes/condominiums sold in Arrowhead, with an average sales price of $1,361,923
As always, we THANK YOU for another amazing season and hope you stop by and say hello when you are back in the Vail Valley for the summer!