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Vail Values Climb: Median Home Price Now $1.4M

Vail's resident real estate authority Slifer Smith & Frampton released its 6-month market review "The Slifer Report" for the second quarter last week, reporting transactions in the valley are continuing to climb. The firm was the first local real estate company in Vail and marked its 50th anniversary in 2012, along with the ski resort itself . The report reflects closed transactions from January 1 through June 30 and compares figures with those from recent years.

[This condo asks $8.5M]

There were 541 total transactions in the valley, compared to 519 in 2012 and 447 in 2011. And while sales volume was down to $435.6 million from $530 million last year and the average sales price dropped from $1.08 million to $874,707, the median price of a home jumped from $945,000 to $1.4 million in Vail proper. Price per square foot also increased for the second year in a row (to $466) and average days on the market dropped almost 50 percent. Eagle-Vail also saw a decrease in days on the market.

[Just under $8M for this one]

Edwards, Homestead and Lake Creek Valley experienced a substantial increase in sales volume, nearly doubling the number of sales and almost tripling the sales volume from this time last year. The median sale price was $736,575 and home prices continue to climb, up to $262 per square foot from $258 in 2012. Sales volume, number of transactions and price per square foot was also notedly up in Singletree, Cordillera, Timber Springs, Eagle, Eagle Ranch, Gypsum, Cotton Ranch, and Buckhorn Valley.

· Official Report [Slifer Smith & Frampton]
—Katie Shapiro