Like the inches of snow currently accumulating in the Colorado Rocky Mountains, the number of luxury home sales in the Vail Valley real estate market continue to rise. In October, luxury homes priced $3M and above saw an 86% increase in sales year-over-year, according to data released by LIV Sotheby’s International Realty and information based on statistics from Vail Board of Realtors. With the influx of potential Buyers entering the Vail Valley market for ski season and the holiday season, there is little evidence that the pace of sales will soon slow-down.
Year-over-year, 13 homes with a price tag of more than $3M sold in October 2017, over 7 homes sold in October 2016, an 86% increase, according to data released by LIV Sotheby’s International Realty and information based on statistics from Vail Board of Realtors. Total sales volume rose 55% year-over-year, reaching $59,240,000 in October 2017, over $38,325,000, in October 2016. During that same time frame, number of Days on Market dropped 23%, from 223 days in October 2016, to just 171 days in October 2017, a good time frame for the luxury home market, where homes over $3M typically stay on the market longer.
With Buyers’ continued desire to purchase luxury homes in one of the nation’s most lifestyle-oriented resort areas, the luxury real estate market in the Vail Valley will likely continue to rise.
The most expensive residential sale in the Vail Valley in October, was a 9,893 square-foot residence located at 1003 Daybreak, Avon, CO, that sold for $9,250,000. The information above represents averages and varies among the different locations within the Vail Valley.
The information above represents averages and varies among the different locations within the Vail Valley.
For more information, contact The Stockton Group, LIV Sotheby’s International Realty, Vail, Edwards, Beaver Creek, at 970.470.6212. To service all your real estate needs visit www.thestocktongroupvail.com.