Colorado real estate is heating up as the summer progresses. With open spaces, access to nature, and social distancing top of mind for many, buying and selling real estate in resort communities make sense for consumers. According to data from LIV Sotheby’s International Realty’s Mid-Year Micro Market Report, comparing January through June of 2020 to the previous year, many neighborhoods within the mountain and resort towns of Colorado have seen positive increases in real estate metrics throughout the COVID-19 pandemic.
Demand for homes in these communities has driven prices upward in some areas. The Vail Valley experienced a slightly larger uptick in prices, with the average sold price in Eagle County rising by 8.5%, bringing the average sold price for homes in the area to $1,383,340. Other areas saw increases in the number of homes sold. Bachelor Gulch, located within the Vail Valley, had a rise in the number of properties sold through June of this year compared to the same time frame last year. When looking at all property types, this community saw a 61.5% increase in listings sold.
Thanks to stunning scenery, colorful communities, and one-of-a-kind lifestyle, Colorado’s world-famous resort towns will always be a desirable destination to invest in a year-round home or purchase a vacation residence. Learn more about how your neighborhood performed by viewing the full Mid-Year Micro Market Report.
In July 2020, the highest-priced sale in the Vail Valley was 375 Mill Creek Circle in Vail Village. This 7 bedroom, 9 bathroom, 7,738 square foot residence sold for $24,000,000. LIV Sotheby's International Realty was proud to represent the seller in this transaction.