A look at the Vail Valley ski property market in August – the deals are still out there! Plus an end of summer celebration and an even more epic Epic pass. This is an archived edition of our weekly news brief. Visit our Vail Valley Real Estate News page for the latest from the Rocky Mountain Home Team.
The Vail Board of Realtors Multiple Listing Service recorded 22 residential property sales for the month of August 2016 in the Vail Valley’s slopeside market. Average sale price for the slope market – including Vail Village, Lionshead, Beaver Creek, Bachelor Gulch and Arrowhead – hit its lowest point for the four years on record at $707 per square foot. Home buyers found some end-of-summer deals, including an Arrowhead duplex selling for $372 per square foot and a single family home in Beaver Creek for $488 per square foot. That single-family home was a short sale – this market’s first recorded distressed property sale since May of 2015.
In a market this select, it does not take many such standout sales to sink the average – and, of course, the reverse is also true. In July, for example, three of the 14 sales for the month were for over $1,800 per square foot, which launched the average to $1,172.75 per square foot. Still, the slope side numbers for August are a good reminder that deals are still out there on Vail Valley Ski Properties – if you know where to look.
Michael and his team would like to send a big “Thank You” to everyone who turned out for our End of Summer BBQ on August 27th! The event was a great opportunity to catch up with friends and clients while celebrating the end of another successful summer. Check out our photo album on Facebook.
Your Epic Pass is now even more Epic! Vail Resorts has purchased the Canadian Whistler Blackcomb ski resort, in a $1.1 billion deal expected to close in the next 2-4 months.
Did you know Colorado has one of the nation’s lowest property tax rates? If you’re looking for a high-value, low tax location for your new vacation home, the Vail Valley is a great spot!