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LUXURY REAL ESTATE MARKET CONTINUES TO FLOURISH IN VAIL VALLEY

Vail, Colorado, March 09, 2018 -- VAIL, Colo.—March 8, 2018—Sales of legacy ranches, notable luxury homes and the remodeling of classic properties indicate a trend of robust activity in high-end sales in the Vail Valley according to John Pfeiffer, president and managing broker of Vail’s Slifer Smith & Frampton Real Estate (SSF).

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As of February, 28, 2018, 8 homes listed over $5 million have sold year-to-date throughout the Vail Valley, with an average sales price of $9,384,969 and total sales volume of $75,079,750. There are currently 12 homes and homesites under contract over $5 million.*

“We are seeing the market reflect very knowledgeable, informed and motivated buyers who appreciate some special properties throughout the Valley,” said Pfeiffer. “From the sale of a $17 million Legacy Ranch that last sold 28 years ago to some incredible activity in Bachelor Gulch where we sold 10 houses in one year in the $6-$10 million-dollar range, to incredible activity of older homes being remodeled and refreshed, we are seeing tremendous interest in the luxury sector throughout the Valley.”

Dick Kesler, ranch broker for SSF recently sold part of the Upper Horn and Perry Olson ranch just 10-minutes off of I-70 at Wolcott. The 5,280-acre parcel sold for $17 million. “With the uptick of the economy, there has been a definite change in buyer attitudes and the cycle is very good right now,” said Kesler. “Ranch inquiries are up and that trend tends to be both cyclical and generational.”

Similarly, Catherine Jones Coburn, Branch Broker for the SSF Bachelor Gulch office, has had several high-end sales of late and is optimistic about the Valley’s luxury market. “Inventory is low and sellers are motivated,” Jones said. “We are thrilled to see this resurgence of interest as buyers are appreciating what on-mountain living is all about.” 

The fundamentals of our community remain strong,” said broker Tina Vardaman, who recently sold a $13.5 million property in Beaver Creek’s Strawberry Park neighborhood. “Vail remains a world-class community with a top ski area operator. The priority of our buyers is to be with their families, and the home is where they gather to enjoy the mountain lifestyle. While many buyers prefer turn-key properties in excellent condition, we also have others who purchase homes with fantastic locations, then proceed with renovations to fit their needs.  Another trend we have seen with long-time residents is a desire to downsize, often to a different neighborhood in Eagle County.  They want to maintain their roots in our community, but prefer lower-maintenance living.”

*Eagle County Residential & Land YTD MLS Data 1/1/18-2/28/18. This information encompasses all brokerages in Eagle County.

 

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About Slifer Smith & Frampton As the #1 real estate company in the Vail Valley and Summit County, Slifer Smith & Frampton Real Estate (SSF) has been a pillar of these communities since its beginning in 1962. SSF has more than 150 Brokers, with more than 60 team members supporting them including Support Staff, Licensed Assistants, Branch Brokers, Marketing and Online Media Specialists, Technical Support Staff, and In-House Closing Experts. Through SSF’s affiliation with Luxury Portfolio International and Leading Real Estate Companies of the World, they not only have the best reach in the local market, but also a direct link to global networks ensuring maximum exposure. Whether you are looking to buy or sell in the resort and mountain real estate market, visit our experts in one of our 24 Slifer Smith & Frampton Real Estate offices in the Vail Valley and Summit County.

www.VailRealEstate.com

Attachment:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/93948ca4-e92e-410b-bbcd-138113bcb0a7

Shawna Topor
Slifer Smith & Frampton
970.748.7575
stopor@slifer.net

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