The Vail Valley real estate market experienced some interesting trends in February 2023, according to the latest market report.
With a total of 325 active listings, the market saw a 2% increase year-over-year. However, the average days on market for these listings was 94 days, which is a 74% increase compared to the same period last year. In terms of sales, the market experienced a decline, with a total sales volume of $130M, representing a 38% decrease year-over-year. While there is still strong demand in the Vail Valley real estate market, it is clear that buyers are taking more time to make purchasing decisions, resulting in a longer time on the market for listings.
The $3M+ Vail Valley real estate market saw a decrease in active listings year-over-year, with a total of 148 active listings in February 2023, representing a 2% decrease. However, the average days on market for these high-end properties increased by 13% year-over-year, with an average of 134 days on the market. The total sales volume for this market segment was $84M, representing a 39% decrease year-over-year. While the market is still experiencing some challenges, it is important to note that high-end properties are still in demand in the Vail Valley, with some properties selling quickly and at a premium. Overall, the Vail Valley real estate market continues to evolve, and it will be interesting to see how these trends develop in the coming months.
If you are considering Buying or Selling a home in the Vail and Beaver Creek areas, please give us a call or stop into our office located at the Solaris in Vail Village, just above the ice-skating rink.