Mountain Village

Overview – Mountain Village

I set the benchmark for a solid year of home sales in the Mountain Village to be 20 homes sold. After the bottom in 2009, the Mountain Village home segment struggled to put together back-to-back years of solid performance. Since 2014, however, Mountain Village has sold at least 20 homes in three consecutive years. With 8 homes already sold and an additional 6 under contract, it appears that 2017 will mark the fourth consecutive solid year in Mountain Village.

Last year was the best year for Mountain Village condos since 2006. This year is already significantly ahead of last year’s performance with 19 condos sold compared to 14 in 2016. The average price for a condo sold is the same this year as last year at about $1.5 million. Of the 19 condos sold, 5 were for greater than $2 million with the most expensive being a SeeForever condo that closed at $4.15 million.

Of the six primary segments, only Mountain Village single-family home lot segment has failed to mount a legitimate recovery since the bottom in 2009. There may well be cause for some cautious optimism. The lot segment often follows the related home segment and with homes in Mountain Village entering their fourth consecutive year of solid sales perhaps that demand may lift the lot market. Through the first quarter of 2017, the lot segment produced 6 sales compared to only 3 last year. In all of 2016, no lot sold for more than $900,000 but through the first three months of this year, already 1 lot has sold for more than $1 million and a second is under contract.