Real Estate Market Trends in the Vail Valley are continuing to move in the right direction, however, we are still seeing low inventory. Overall, unit sales for the Vail Valley have increased 6% year to date compared to 2017 and dollar volume is up a healthy 13.23%. Notable market segments include $5m+ sales up 47% and $1 – $2m sales up more than 16% from 2017.
Vail Valley real estate sales in both Beaver Creek and core Vail properties continues to build upon growth in 2018. Unit sales in Vail Village, Lionshead and Cascade Village have increased almost 14% from 2017 while dollar volume is up 5.38%. The “off” snow year didn’t damper the spirits of home buyers as Beaver Creek Resort had flat unit sales but an increase of dollar volume by 3.5%. Given atypical conditions, this should be seen as a win for the market and all expectations are that our core resort markets should continue to see significant activity as inventory builds and the summer selling season commences.
Sales from the middle part of the valley through Gypsum saw healthy activity compared to this time last year, with Eagle and Eagle Ranch the clear standouts up 13% in unit sales and 17.5% in dollar volume. Most neighborhoods are up and that is a clear sign, in an “off” snow year, that the market is healthy and active for those looking to buy and sell. Entry level homes remain limited, with sales of under $300,000 down 60%. Appreciation gains have pushed these homes up, yet home buyers remain active in this category thanks to still-low interest rates. Activity should increase valley-wide and inventory should increase by about 25% through mid-summer.
Overall, unit sales for the Vail Valley have increased 6% year to date compared to 2017 and dollar volume is up a healthy 13.23%.
The spring buying season has resulted in inventory down about 6.3% compared to a year ago, however, the activity in late March and April has brought contracts down 20%. Both inventory and buyer activity should pick-up as we enter mid-June – mid-October.
