There was a significant change to the single family and duplex market in the Vail Valley in December, both compared to year over year, and to November 2022.
The average price was $2,444,521, which is down 37.3% from December 2021’s average price of $3,902,055 and November 2022 price of $3,711,595. We also saw a decline in closed sales of over 45%, while inventory went up 50% from 100 SFH/duplexes a year ago, to 150 available units in December. Interestingly though, the days on market decreased from 122 to 85 YoY.
Townhomes and condos in the Vail Valley had about the same movement percentage-wise for number of closed sales and inventory, -41.1% and +52.4% respectively. Unlike the large price changes for SFH/duplexes, townhomes and condos appreciated by almost 6% in average price YoY, coming in at $1,940,207 compared to $1,831,674 a year ago, and up from just over $1.4M in November 2022.
The new development project in Avon – One Riverfront is now completely sold out, strengthening the townhome and condo market in the area.