Tye Stockton and Patrick Barrett with The Stockton Group discuss insider Insights and unveil Vail's Real Estate Dynamics -
Q: What are the current trends in the Vail real estate market?
A: We've observed a normalization in the market compared to the peak of the pandemic. Properties are taking a bit longer to sell, around three to six months, which is typical for this area. Despite this, pricing has remained steady, indicating a strong market.
Q: Where are luxury real estate sales concentrated at the moment?
A: Luxury sales have seen a surge in areas like Beaver Creek and Bachelor Gulch, which experienced undervaluation in the past decade. Additionally, Vail Village and Lionshead are hotspots for condominium sales, with properties selling quickly and at premium prices.
Q: What about surrounding neighborhoods? Are there any notable trends?
A: Neighborhoods like East Vail, West Vail, Booth Creek, and Cascade Village have seen increased activity, particularly in the $1 to $3 million price range. These areas attract both local and out-of-state buyers, with Texas and Florida buyers showing significant interest.
Q: Are there any off-market deals happening in the current market?
A: Yes, we're seeing a rise in off-market deals due to limited inventory. Buyers looking for specific properties should not lose hope; working with experienced professionals can help uncover hidden opportunities.
Q: How do you track property values in a market with custom homes like Vail and Beaver Creek?
A: Compass Real Estate's technology platform allows us to create tailored collections for buyers, keeping them updated on new listings. Additionally, our expertise in the market helps us interpret data accurately and guide buyers effectively.
Q: What factors contribute to the current low inventory in the market?
A: Low inventory is primarily due to seller reluctance and unrealistic pricing expectations. However, buyer demand remains high, leading to longer days on the market for some properties.
Q: Any advice for buyers and sellers navigating the current market?
A: Trust in experienced professionals like The Stockton Group can make all the difference. Don't give up if you don't see your ideal property on the market; our team can assist in finding the perfect fit for your needs.
If you are looking for a real estate expert, contact Tye Stockton or Patrick Barrett with The Stockton Group.
Tye Stockton
970-471-2557
[email protected]
Patrick Barrett
970-470-0778
[email protected]