How Does Your Favorite Resort Stack Up? LIV SIR Analyzes Top Resort MarketsLIV Sotheby's
Ever wondered what is happening in Colorado and the western United States’ top resort real estate markets- besides the skiing? The resort markets of the Vail Valley, Breckenridge, Aspen, Telluride, Crested Butte, Steamboat Springs – CO, Park City UT, Lake Tahoe CA, Jackson Hole WY, Big Sky MT, Santa Fe NM, and Sun Valley ID, have been demonstrating signs of steady increase according to a year-end report by LIV Sotheby’s International Realty, and there are no signs of slow-down.
Based on their location in desirable, slightly less accessible places than national mainstream markets, resort communities throughout Colorado and around the world are prone to unique, heavily saturated luxury markets, and tend to have a greater density of luxury offerings as higher net worth individuals are often drawn to them based on their exclusivity and proximity to recreational activities.
LIV Sotheby’s International Realty compiles bi-annual data from 12 prominent resort communities throughout the western half of the United States in order to provide the consumer quick statistics for each resort area, keeping them up-to-date on the overall housing market in each area, and providing pertinent information in making buying decisions.
“Traditionally, winter and summer seasons in the resort market sector are extremely active,” said LIV Sotheby’s International Realty president, Scott Webber. “We are seeing an increased trend of more of a year-round selling season within these resorts. Pricing and values are generally climbing within the resort markets, steadily rising from 2012 through 2015. With the increasing desire for lifestyle-inspired home purchases, 2016 remains optimistic and positioned for a healthy future.”
A few highlights from Colorado within the report include Breckenridge’s number of properties sold rising 15.8% from 1,636 in 2014 to 1,895 in 2015. In Vail, number of properties sold rose 9.5% from 1,153 in 2014 to 1,263 in 2015.
“The overall real estate market in the Vail Valley has been very consistent in 2015,” said Dan Fitchett Jr., Managing Broker at LIV Sotheby’s International Realty. “Gross sales have increased 6%, and days on market have dropped from 175 to 151, a reduction of 14%. Additionally, we have remained steady with the percentage of sold price to list price at 94%. We are optimistic that similar trends will be experienced in 2016.”
Colorado and the western United States continues to develop as a national leader in many sectors including commerce, recreation, research, energy, employment, cultural activities, and sporting events. With interest rates, rent, and home values all projected to rise throughout next year and into the foreseeable future, real estate throughout Colorado and western United States resort communities should continue to rise.
LIV Sotheby’s International Realty compiles monthly, quarterly and year-end reports to help consumers make better real estate decisions, whether purchasing or selling a home. Reports can be accessed as www.coloradomarketreports.com. For more information, contact Brittanny Havard, public relations manager, LIV Sotheby’s International Realty at 303.486.3738. To service all of your real estate needs visit www.livsothebysrealty.com.