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Vail Valley Market Recap - 2023 Q3

Patrick Barrett



Patrick Barrett here in Vail and Beaver Creek. It's November, ski and snowboard season is just around the corner and everybody's getting excited. Looking back on the real estate market through three quarters of 2023 — what has changed what has not changed. At this point in the year, a lot has changed.  The frantic pace of the market that we experienced in 2021 and

2022 has calmed substantially. We're seeing overall a normalizing of the real estate market. Properties are taking a bit longer to sell but are selling. Pricing and values have remained relatively flat year-over-year. After the first half of the year, transaction volume being down substantially the market was off around 30% in the third quarter.  Sales volume was up almost 30% across all price points. In particular, the luxury market above 3 million.

What has not changed is the reason that people want to be here. Lifestyle remains the primary driver for people entering and remaining in this market enjoying time with friends and family recreating on the mountain, enjoying the open spaces.

Vail Mountain is scheduled to open for ski and snowboard season in just about two weeks. We had 20 inches of fresh snow last weekend, and we are looking forward to a great season!


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