The resort markets of Vail Valley, Breckenridge, Aspen, Telluride, Crested Butte, Steamboat Springs – CO, Park City UT, Lake Tahoe CA, Jackson Hole WY, Big Sky MT, and Sun Valley ID showed signs of balance according to a mid-year report by LIV Sotheby’s International Realty.
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 11 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.
“Within the resort markets, pricing and values are generally climbing while overall transaction values remain on par with the previous year,” said LIV Sotheby’s International Realty president, Scott Webber. “The summer season is extremely active in the resort market sector, and real estate showings are on the rise. The resort market is projected to continue growing based on the increasing desire for lifestyle-inspired home purchases.”
A few highlights from Colorado within the report include Vail’s average price per square foot rising from $466 in 2014 to $489 in 2015, a 4.9 percent increase. In Breckenridge average price rose 5.1% from $528,898 in 2014 to $555,611 in 2015.
To access the full report, visit 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