Slifer Smith & Frampton (SSF) Real Estate on Friday issued the following press release on extraordinary sales numbers in the Vail Valley over the past six months:
The numbers are in for The Slifer Report Six Month Market Review for the Vail Valley, and recent activity is nothing short of staggering. “Sales volumes are up across all of our markets, but in the mountain markets, sales volumes have doubled year-to-date since 2020,” said Matt Fitzgerald, SSF Market President for Vail Valley
That’s especially true in the Vail Valley where SSF is the market leader with 40% of the market share with more than $1.4 billion in total sales volume YTD in 2021, over double from the same time period in 2020. “The market is very active across all of Eagle County’s sub-markets but especially in the high-end luxury market this quarter,” says Fitzgerald. The single family/duplex average sold price per square foot in Vail Village and Lionshead has reached $2,840/SF, putting a premium on these heart of Vail locations. The highest condominium sale so far in 2021 in Eagle County was a 4-bedroom Penthouse in Vail listed and sold by SSF for $12.5 million. “These high-end sales are a bellweather and vote of confidence for the broader market”
“The dynamics of supply and demand are driving our market. While there are new listings coming online, properties are moving very quickly and standing inventory is low,” Fitzgerald says. SSF has closed 972 transactions in the first six months of 2021 compared to 462 YTD in 2020. Sales volume in the first half of 2021 is north of $1.4 billion ($1,444,790,678) versus $598 million ($597,939,588) in 2020.
“Our clients are seeing the value in mountain real estate. They want to be in the Vail Valley, where they recognize the myriad of outdoor activities, cultural events and mountain lifestyle is a worthy investment. We are expecting this trend to continue and are anticipating a strong third and fourth quarter,” Fitzgerald says.