BANDONI's Real Estate Reality | Late Summer 2023

WELL, THERE ARE NO MAJOR MYSTERIES HERE.  The Vail Valley real estate market has been fairly easy to interpret throughout the year...

Perpetual demand is keeping pace with the rate of the new supply, which is resulting in slowly, steadily increasing property values. 

The high interest rates are locking locals in place.

The market favors sellers, but it is not a seller’s market.

That multiple-offers-fever of early 2022 does not exist. The bullishly priced properties do not sell quickly, and some of those prices are now beginning to come down. At this ‘late’ date of summer, there are new listings still coming to market and the properly priced properties sell quickly (see some of those below).

PROFILE OF MARKET ACTIVITY YTD

Let’s have a look at what much of the talk around town has been about: the lower and the upper price segments...

SOLD: 499 UNITS

COMMENTARY: There are way too few homes available under $1MM this year. THE DATA indicates that it may not be just a result of rising values but more simply, a result of the lack of sellers: the ratio of homes sold under $1MM this year is nearly same as last year, about 38%. 

COMMENTARY:  There seems to be an awful lot of high-priced properties selling this year -and selling quickly. THE DATA indicates that $5MM+ sales increased from 7.8% of sales to 9.4% which doesn’t seem like a lot but that represents a year-over-year increase of about 20%. Half of the 47 sales went under contract within forty-five days on market; yet that was exactly the same pace as last year. 

UNDER CONTRACT: 187 UNITS 

46 units went under contract within 7 days. 34 units within 21 days

Here are the quick sellers [sorted by area]:  HERE

A few of those are true gems...in East Vail, Beaver Creek…can you guess which? 

FOR SALE: 285 UNITS

93 units in the Town of Vail -including Vail & Lionshead Villages

140 units in Mid Valley - Minturn to Wolcott

52 units down valley - Eagle and Gypsum

Here is MY BEST OF selections from that inventory of properties for sale.



ALL INFO ABOVE does not include these three new developments ...

THE THREE NEW DEVELOPMENTS click on property name for pics & info

Siena Lake - Gypsum

Frontgate at Avon

Minturn North

YTD 2023 BIG DOLLAR MARKET ACTIVITY HERE



INFOTAINMENT CENTER

FOR NO GOOD REASON, I must share my media coverage in this month’s issue of Vail Valley HOME magazine. Nearly every one of you know the Bandoni backstory anyway; this may simply be another reason to give me grief about some aspect of it. So, well, here you go BANDONI INTERVIEW

SUMMER, NOT OVER YET! FORD AMP | VILAR CENTER | VAIL VALLEY FOUNDATION | TOWN OF AVON

There’s always room for ANOTHER GOOD ITALIAN EATERY. Il Mago recently opened in the Edwards Corner building and it is worth your tasting, time, and money. I can’t find their web site so here’s the Yelp link. Let me know what you think someday...

WHO HAS THE BEST PIZZA? Il Mago or Zino's ?

When you want to contemplate any aspect of your real estate life, just shoot me a message or give me a call.

Be Well,

ScottBANDONI 

Proficient Analysis & Guidance for 28 Years

cell 970.390.9400 | bandoni@vail.net | www.ScottBandoni.com 

LIV Sotheby's International Realty | Vail Valley + Boulder County