February 9, 2012

The below statistics showcase a good start to our winter selling season with 18 residential homes going under contract and 18 closings between East Vail and West Vail.

Closings

1. 18 Closings

2. Price Range: $200,000(2 bedroom Innsbruck Condo - West Vail) to $6,400,000(4 bedroom Solaris Residence - Vail Village)

3. Notes and Highlights

     a. Solaris Residence #6A E closed - this brings total sales in the building to 23 out of 79

     b. Only 7 sales took place in Vail and Lionshead Villages

     c. Founders Parking Space sale - $235,000 sales price

     d. 90%(average) - Sales Price to List Price

     e. 83%(average) - Sales Price to Original List Price

4. Vail and Lionshead Village Price per Square Foot: $1,257/sq.ft.(2 bedroom Edelweiss Condo -   Vail Village) to $2,462/sq.ft.(3 bedroom One Willow Bridge Condo - Vail Village)

*See below Spreadsheet link for more details

Under Contract

1. 18 residential homes went under contract

2. Price Range: $219,000(1 bedroom Vail Racquet Club condo - East Vail) to $8,495,000(5 bedroom Gore Creek Place - Lionshead Village)

3. Notes and Highlights

     a. Ritz-Carlton Residence #415 is under contract: 4 bedroom listed at $4,200,000

     b. 9 homes are listed above $2million and 9 homes are listed below $1million

4. Vail and Lionshead Village Price per Square Foot: $1,114/sq.ft(Holiday House Studio - Vail Village) to $1,998/sq.ft.(3 bedroom Lodge Tower condo - Vail Village)

*See below Spreadsheet link for more details

Attachments:

Sold - Jan 2012.pdf	[Sold (January 2012) - East Vail to West Vail]	202 Kb
Under Contract - Jan 2012.pdf	[Under Contract (January 2012) - East Vail to West Vail]	198 Kb

February 3, 2012

Eagle County saw a strong surge in December with a total of 136 real estate closed transactions - the most monthly sales since October 2008.

2011 ended the year with a total of 1,357 real estate closed transactions which is 9% above 2010 and 45% above 2009.

The total dollar volume for 2011 was $1,158,048,856 which is down 23% from 2010($1,497,172,233).

Market Graphs - see below attachments

1. 2011 vs. 2010 Price per Square Foot comparison

     a. This is broken up by Area from East Vail to Gypsum

2. Land Title's full 2011 year end report

     a. Compares years 2008, 2009, 2010 & 2011.

Attachments:

2011 vs. 2010 Price per square foot comparison.pdf	[2011 vs. 2010 Price per Square Foot]	72 Kb
2011 year end - Land Title\'s Analysis.pdf	[2011 Year End]	152 Kb

January 30, 2012

Below is a list of some of the Top Real Estate Deals in West Vail

Click here to view West Vail Map

1. Interlochen Condo, Unit B19 (3 Bedrooms) - $649,000 List Price

* Remodeled and on Gore Creek

* Purchased in 2005 for $495,000(Oringnal Condition)

* 207 Days on Market

Click here to view this property

2. Highland Park Townhome, Unit A (4 Bedroom) - $895,000 List Price

* $1,350,000 - Original List Price

* 546 Days on Market

* Excellent condition and 2 Car Garage

Click here to view this property

3. 2832 Kinnikinnick Road (4 Bedrooms) - $1,050,000 List Price

* $1,525,000 - Original List Price in November 2009

* Single Family Residence with a 2 Car Garage

* 411 Days on Market

Click here to view this property

4. 1673 Matterhorn Village (4 Bedrooms) - $1,159,000 List Price

* $2,390,000 - Original List Price in April 2009

* 2,107 Days on Market

* Remodeled

Click here to view this property

5. 2150 Alpine Drive (5 Bedrooms) - $1,400,000 List Price

* $2,700,000 - Original List Price in Spetember 2001

* $311/price per square foot

* Remodeled in 2009

Click here to view this property

January 27, 2012

Below is a list of the Top Real Estate Deals in the Cascade Village and the Buffehr Creek neighborhoods.

• Cascade Village is located at the western most base of Vail Mountain
• Buffehr Creek is located across I-70 from Cascade

Click here to view a sattelite map of these two different neighborhoods

Cascade Village

1. Millrace Condo (2 Bedrooms) - $1,200,000 List Price

* Purchased in 2009 for $1,200,000

* 358 Days on the Market

* On Gore Creek and walk to the Cascade Lift

Click here to view this property

2. 1310 Greenhill Court (5 Bedrooms) - $3,850,000 List Price

* $4,950,000 - Original List Price

* 470 Days on the Market

* Ski into your back patio

Click here to view this property

3. 1345 Westhaven Circle (5 Bedrooms) - $6,995,000 List Price

* $12,700,000 - Original List Price in August 2009

* 888 Days on the Market

* On Gore Creek and walk to the Cascade Lift

Click here to view this property

Buffehr Creek

4. 1695 Buffehr Creek Road (5 Bedrooms) - $3,995,000 List Price

* $5,995,000 - Original List Price in February 2009

* 1,054 Days on the Market

* Excellent outdoor living spaces

Click here to view this property

5. 1465 Aspen Grove Lane (6 Bedrooms) - $6,200,000 List Price

* $11,500,000 - Original List Price in July 2008

* 1,056 Days on the Market

* 180 degree views: Gore Range - Vail Mountain - Mount of the Holy Cross

Click here to view this property

January 24, 2012

Below is a list of the Top Real Estate Deals in Potato Patch and Sandstone.

The Potato Patch and Sandstone neighborhoods are located across I-70 from Lionshead Village and Vail Mountain. 

Click here to view a satellite map of these two neighborhoods

1. Potato Patch Duplex (3 Bedroom) - $1,695,000 List Price

* Original List Price - $2,300,000

* Purchased in 2004 for $1,650,000

* On the market for 885 Days

Click here to view this property 

2. Potato Patch Club Condo, #40(4 Bedroom) - $1,075,000 List Price

* Original List Price - $1,595,000

* On the market for 893 Days

* Last Sale in complex: $900,000 in October 2011 -  Original Condition Unit.  

Click here to view this property

 3. Sun Vail Condo, #13A(2 Bedroom) - $679,000 List Price

* Sold in 2007 for $785,000

* Completely Remodeled - Walk to Slopes

* Last comparable complex sale: $640,000, May 2011 - Original Condition Unit

Click here to view this property

4. Simba Run, #1106(2 Bedroom) - $475,000 List Price

* Original List Price - $579,000

* On the market for 625 Days

* Last comparable complex sale: $442,000, Deceber 2011

Click here to view this property

5. Brooktree, #A-201(2 Bedroom) - $415,000 List Price 

* Completely Remodeled

* Purchased back in 2008 for $569,000

* Last comparable complex sale: $318,500, June 2011 - Original condition unit

Click here to view this property

January 17, 2012

A 10" Powder Day on Vail Mountain

January 17, 2012

The below statistics showcase a strong month of Vail real estate sales as we headed into our winter selling season, along with a good start to the season with nine properties going under contract. 

Closings

1. 19 Closings

2. Price Range: $307,000(3 bedroom Valley Ridge Condo - Buffehr Creek) to $6,100,000(6 bedroom Tower Residence Condo - Lionshead Village)

3. Notes and Highlights

    a. Tower Residence 602 Closed: this was the last developer owned residence.  

    b. Only 7 sales were over $1 million

    c. Only 4 sales took place in Vail and Lionshead Village

    c. 86%(average) - Sales Price to List Price 

    d. 78%(average) - Sales Price to Original List Price

4. Vail and Lionshead Village Price per Square Foot: $540/sq.ft.(2 bedroom Evergreen Lodge - Lionshead Village) to $2,190/sq.ft.(3 bedroom Summers Lodge - Vail Village)

*See below Spreadsheet link for more details

Under Contract

1. 9 residential homes went under contract

2. Price Range: $320,000(3 bedroom Valley Ridge condo - Buffehr Creek) to $3,995,000(6 bedroom duplex- East Vail)

3. Notes and Highlights

    a. Only 2 of these homes were in Vail and/or Lionshead Village

    b. All but 1 had to reduce their price from their original list price prior to going under contract.

          i. 18%(average) List Price reduction

4. Vail and Lionshead Village Price per Square Foot: $966/sq.ft(2 bedroom Landmark condo - Lionshead) to $1,821/sq.ft.(1 bedroom Village Center Condo - Vail Village)

*See below Spreadsheet link for more details

Attachments:

Sold - December 2011.pdf	[Sold (December 2011) - East Vail to West Vail]	204 Kb
Under Contract - December 2011.pdf	[Under Contract (December 2011) - East Vail to West Vail]	187 Kb

January 13, 2012

Below is a list of the Top Real Estate Deals in East Vail and Booth Creek

1. Vail Racquet Club: Units 9-14 & 1-6

• Unit 1-6($389,000): Least expensive 2 bedroom - good condition and fully furnished
• Unit 9-14($219,000): Least expensive 1 bedroom - Upgraded and on the creek
• On-site management, good short term rental, amenities and on the bus route
• Click here to view properties

2.  Mountain Meadows Condo - Residence #I 31

• Completely remodeled - just re-listed at $759,000
• Large 2 bedroom(1,228 square feet), 3.5 bathroom, 1 car garage
• On the free Town of Vail bus route
• Click here to view property

3. Five bedroom East Vail duplex

• Listed at $895,000
• 1 car garage, hot-tub on deck, views of the East Vail chutes
• On the free Town of Vail bus route
• Click here to view property

4. Booth Creek Single Family Home

• Spacious 4 bedroom, 4.5 bathroom private home
• 4,047 square feet
• Upgraded interior with a gourmet kitchen
• Click here to view property

January 11, 2012

**Eagle County real estate sales surpass $1 billion in 2011

Land Title's Report

November saw real estate sales of over $124 million which helped Eagle County reach the $1 billion mark for the 14th year since 1996; only 2009 did not reach this milestone.
 
November had 121 transactions bringing the year to date total to 1,221, creating an overall average sales price of $856,051. November had 9 transactions over $4 million; the most transactions in this category throughout 2011.
 
Down-valley properties continue to experience the vast majority of sales in November accounting for over 25% of the total transactions. Eighteen of the 27 bank sales for November were in Eagle or Gypsum. This brings the total number of bank sales in 2011 to 270.
 
The Vail Golf Course was the area with the highest average sales price for November at $6,225,000 over 2 transactions. One of those two transactions was a new construction sale for $9.25 million, the highest transaction throughout Eagle County in November.
 
November Highlights:

-  Solaris had the highest PPSF unit, selling for $2,204 per sq. foot
-  Eagle had 18 transactions
-  71% of all transactions sold for less than $1 million

**See attachment to view Land Title's full number report

Attachments:

Land Title\'s November Report.pdf

[Land Title's November Report]

147 Kb

December 28, 2011

Below is a list of the Top Real Estate Deals currently in Vail and Lionshead Village

1. Vail Mountain View Residences - Vail Village

• There are currently 4 residences listed for sale
• They range in Price per Square foot from $1,254 - $1,574
• Newly constructed and on Gore Creek - views of Vail Mountain
• Click here to view properties

2. Mountain Haus Residence 691 - Vail Village

• 3 bedroom Platinum rated penthouse
• Listed at $1,975,000($1,304 sq.ft.) - originally listed at $2,925,000
• Click here to view property

3. 395 Forest Road - Vail Village

• New construction on Forest Road
• 4 bedroom, 4,397 square feet
• Listed at $8,700,000($1,978 sq.ft.) - originally listed at $10,400,000
• Developer Inventory - ready to move this winter
• Click here to view property

4. Lodge at Lionshead Residence #3 - Lionshead

• Platinum rated 3 bedroom - overlooking Gore Creek with views of Vail Mountain
• Listed at $1,950,000($1,249 sq.ft.) - originally listed at $2,295,000
• Seller to guarantee first $200,000 in rental income
• Click here to view property

5. Landmark Residences - Lionshead Village

• New construction
• 8 of 15 residences remaining
• Range in list price from $1,275,000 to $4,900,000
• Click here to view properties

6. The Ritz-Carlton Residences - Lionshead Village

• New construction
• The Brand and Service of the Ritz -Carlton
• 40 of 71 residences remaining
• 18 residences sold in past year - the most out of any new construction project in Vail and Lionshead Villages *Incredible Discounts and lifetime ski passes - call for details
• Range in list price from $2,195,000 to $8,980,000
• Click here to view properties

December 24, 2011

The below statistics showcase a strong month of real estate sales in the Vail and Lionshead Village areas, as well as continual sales across all price points and locations.

Closings

1. 20 Closings

2. Price Range: $253,000(1 bedroom Pitkin Creek Park Condo - East Vail) to $6,525,000(5 bedroom single family home - Vail Village)

3. Notes and Highlights

     a. 7 closings took place in Vail and Lionshead Village -  over $1,000,000

               i. Average Sales Price per Square Foot = $1,609

              ii. 2 Solaris Residence Sales - this brings total sales in the building to 22 out of 79

             iii. 1 Ritz-Carlton Residence Sold - this brings total sales in the building to 31 out of 71.

     b. 9 of the 20 sales were over $1,000,000         

     d. Average percentage of Sales Price vs. Listing Price was 92% 

4. Vail and Lionshead Village Price per Square Foot: $1,076/sq.ft.(3 bedroom Vorlaufer Residence - Vail Village) to $2,205/sq.ft.(4 bedroom Solaris Residence - Vail Village)

*See below Spreadsheet link for more details

Under Contract

1. 11 residential homes went under contract

2. Price Range: $219,000(1 bedroom Vail Racquet Club condo - East Vail) to $2,175,000(4 bedroom duplex- East Vail)

3. Notes and Highlights

     a. 5 of the 11 are located in East Vail/Booth Creek 

4. Vail and Lionshead Village Price per Square Foot: $1,514/sq.ft(2 bedroom Lodge at Vail Condo - Lionshead) to $1,633/sq.ft.(2 bedroom Lodge at Vail Condo - Lionshead

*See below Spreadsheet link for more details

Attachments:

Sold - November 2011.pdf	[Sold (November 2011) - East to West Vail]	195 Kb
Under Contract - November 2011.pdf	[Under Contract (November 2011) - East to West Vail]	187 Kb

December 8, 2011

Vail Resorts, developer of the Ritz-Carlton Residence here in Vail, has announced their new winter purchase incentive program for the next 5 sales in the building.

The Incentives Include:

• 4 Lifetime Ski Passes - valid for 60 years
• 50 Private Ski Lessons - valid for 5 years

**A residence purchase still includes a Social Membership to the Arrabelle Club - this is automatically included in the purchase price. Competitive Pricing Report- *Attached is the newest competitive pricing report comparing List Prices of some of the newest developments in the Vail Village.

Attachments:

Competitive Pricing_112011.pdf	[Competitive Pricing Report]	50 Kb
Incentives.pdf	[Winter Purchase Incentives]	857 Kb

December 7, 2011

High Transaction Numbers during the months of September and October

General Trend:

High real estate sales volume in both the months of September and October as we end another summer/fall selling season and approach another winter season. We usually see high sales volume during these times as more buyers become engaged in making offers in hopes of one, dealing with a seller who really doesn't want to carry their property into the winter and therefore might be more negotiable, and two, buyers wanting to have a place to call home and use during the winter ski season.

As Land Title's report indicates below, Vail Village real estate sales have accounted for a substantial amount of the dollar volume in Eagle County's overall year to date numbers. A large part of this dollar volume comes from the 16 sales that have taken place at the Ritz-Carlton Residences, Vail since January 1, 2011. These sales have been accomplished through proper market pricing followed by Vail Resorts(developer and seller) strong willingness to negotiate and provide purchase incentives.

Land Title's Report:

October had the second highest number of transactions for any month this year, 130, only exceeded by September. This brings the year to date total for transactions to 1,100, 6% above last year’s volume through the same time period. While the majority of these transactions were under $500,000, 51%; more than 10% of the transactions have sold for more than $2 million.

Eagle and Gypsum continue to account for the majority of all transactions in October with 17 and 13 transactions respectively, followed closely by Avon with 11 and East Vail with 9 sales.

Year to date through October Vail Village has produced 40% more dollar volume, over $145 million, than any other area in Eagle County while their 49 transactions are the fifth highest in the county creating an average sales price of $2,959,700. The average price per square foot for a single family home in Vail Village has gone up 31% over last year to $1,764.

The Eagle County price per square foot average for single family homes has gone down 23% compared to 2010.

Bank sales continue to impact our market with 18 more sales in October, bringing the total to 243 transactions year to date through October.

October Highlights:

• Vail Village averaged $3,600,217 per sale over 6 transactions
• Eagle had the most transactions at 17
• 51% of the transactions were single family homes.

** See attachment to view Land Title's full number report

Attachments:

1011LandTitlesMarketAnalysis.pdf

[ ]

147 Kb

November 5, 2011

New Listing - Lodge at Lionshead, Residence - Lionshead Village

A rare find, this stunning, completely remodeled residence offers the best of everything: fabulous location, breathtaking views and beautiful finishes. This three bedroom corner home has a spacious floor plan with a kitchen, dining and great room opening to the wrap around decks overlooking Gore Creek and Vail Mountain. Walk to the Gondola and after skiing relax at the pool and hot tubs. Excellent management and strong rental program.

List Price: $2,500,000 - Furnished 3 Bedrooms, 3 Bathrooms, 1,599 Square Feet

Click here for additional details and photos

November 4, 2011

The below statistics represent another strong month of real estate activity between East and West Vail as we approach the winter. October, like September, showcased a higher number of closings and homes going under contract compared to any other month this past spring, summer and fall. This is a typical trend that we see throughout the Vail Valley’s real estate market as more buyers tend to wait to engage sellers at the end of a selling season in hopes of getting a better deal and having something to use for the upcoming winter.

Closings

1. 21 Closings

2. Price Range: $230,000(1 Bedroom Pitkin Creek Park Condo - East Vail) to $9,250,000(5 Bedroom Vail Golf Course Duplex)

3. Notes and Highlights

     a. 10 closings were over $1,000,000

               i. 3 of these were over $5,000,000

     b. Ritz-Carlton Residence #3 closed(3 bedroom south facing terrace residence). This brings total sales in the building to 30 out of 71.

     c. Founders Parking Space closed for $230,000

     d. Average percentage of Sales Price vs. Listing Price is 92% *This statistic again shows that when homes are priced correctly they have a much better chance of selling.

4. Vail and Lionshead Village Price per Square Foot: $976/sq.ft.(2 bedroom Mountain Haus Residence - Vail Village) to $2,016/sq.ft.(4 bedroom Duplex in Vail Village)

*See below Spreadsheet link for more details

Under Contract

1. 15 residential homes went under contract

2. Price Range: $295,000(2 bedroom Pine Ridge - West Vail) to $2,995,000(2 bedroom plus den Ritz-Carlton Residence- Lionshead Village)

3. Notes and Highlights

     a. 8 of the 15 were listed for over $1,000,000

     b. Ritz-Carlton Residence #217 is under contract. 

4. Vail and Lionshead Village Price per Square Foot: $1,035/sq.ft(2 bedroom Montaneros Condo - Lionshead) to $1,596/sq.ft.(3 bedroom Village Center Condo - Vail Village)

*See below Spreadsheet link for more details

Attachments:

October - Sold.pdf	[Sold (October 2011) - East Vail to West Vail]	196 Kb
October - Under Contract.pdf	[Under Contract (October 2011) - East Vail to West Vail]	190 Kb