The Vail real estate market is on pace to set even more records this year, with sales volume more than doubling from even the ultra-hot 2020.
After approaching $600 million last year in sales volume (based on more than 460 transactions), Vail recorded more than $1.4 billion in sales across 972 transactions by Q2 2021, according to data from Slifer Smith & Frampton Real Estate.
Luxury sales volume, or transactions over $4 million, nearly tripled year-over-year, increasing from $158 million in 2020 to $463 million by the first half of 2021.
Condominiums and townhomes in Vail Village and Lionshead are going fast, with the average days on the market plummeting from 349 days in 2019 and 341 days in 2020 to just 179 days this year. In Bachelor Gulch Village, the average days on the market dropped to 189 days from 420 last year.
Land sales are also reaching record highs, with sales steadily dropping through last year to 31 transactions and spiking to 153 in the first half of 2021, making up nearly $60 million in sales volume.
Anna Menz, an agent with Slifer Smith & Frampton Real Estate, says the rise of remote work has caused Vail to shift to a year-round community, with lots of buyers from Texas, Florida and New York, and even some from California.
“Anyone with the means to create the life they want are looking in Vail,” Menz said. “We used to have more off-season time, but we don’t anymore.”
For those in the market for a property in Vail, here’s a look at new listings at three different price points.
$1.795 million
Address: 4552 Meadow Drive 9
Located in East Vail near Vail Racquet Club, this townhome features an eastern orientation centered on sweeping mountain views. The three-bedroom residence has 1,740 square feet of living space, an expanded kitchen and an oversized loft with extra space. A wall of windows in the living room takes in a nearby meadow and seasonal creek.
$6.25 million
Address: 787 Potato Patch Drive
Designed for entertaining, this custom home bordering open space features a walk-out lower level with a full bar, outdoor dining area, hot tub and fire pit. Inside, a flexible floor plan of nearly 4,600 square feet holds a chef’s kitchen, a climate-controlled wine room, five bedrooms and 5.5 bathrooms.
$14.35 million
Address: 355 Forest Road A
This contemporary home set among tall Aspen trees was recently renovated and expanded to nearly 3,700 square feet with six bedrooms and eight bathrooms. High ceilings, walls of glass and beautiful custom wood finishes define the common areas. Outside, the home features more than 1,000 square feet of radiant-heated space, including a wraparound deck, patio and hot tub.
Slifer Smith & Frampton Real Estate is a founding member of Forbes Global Properties, a consumer marketplace and membership network of elite brokerages selling the world’s most luxurious homes.