The first quarter has come to a close with visitors still flocking to the valley to enjoy the sun and snow. Our busy winter season brought the world to the Vail Valley in February with the Alpine World Ski Championships. Thousands of athletes, members of the media and fans converged on Vail and Beaver Creek to participate and experience an exceptional event that showcased the best of the valley.
Real estate market activity continues to hold steady.
The Championships brought a brief respite to showing activity as many visitors were in town to enjoy the races and events. After the two-week pause a noticeable uptick in buyer activity followed and contracts and sales have found their footing once again.
A recent article published by RISMedia cited National Association of Realtor numbers showing vacation homeownership above its 2006 peak. As the world’s premier four-season vacation resort we have seen this evidence over the last 18 months with a rise in sales of vacation homes in Vail, Beaver Creek and throughout the valley. The first quarter numbers reflect the ongoing activity as well as some of the inherent challenges in local markets because of lower than normal inventory levels. In our bedroom communities days on market are low, buyer activity is high and the only limiting factor is the aforementioned inventory.
While pricing your property to the market remains critical, we have seen sales numbers trending higher –though each market is wholly unique in its activity and pricing relative to the greater market. Our 6th formal quarterly trend report is to provide just that –trends. Specific market data and pricing is best determined by you and your professional Berkshire Hathaway real estate broker. They know the real estate environment inside and out, the stories behind sales, opportunities coming to market and can provide the most accurate and relevant data as you consider a move in the Vail Valley.
So as the mountains turn from white to green, the rivers begin their annual rush and we embark on spring and summer, we hope you find the following information valuable and look forward to seeing you here in the valley.