Mountain Village

Overview – Mountain Village

Only five homes sold in the Mountain Village during the first six months of 2019 with four additional homes under contract. During the same period in 2018, thirteen homes were either sold or pending. This lack of home sales in Mountain Village is a potential flag for the segment. Notably, 40% of the 63 homes currently on the market have an asking price of over $5 million. That percentage is down from nearly 50% of available inventory 60 days ago which is a healthy sign. Recall that only one home in the Mountain Village sold for over $5 million last year.

The declining inventory of condos in Mountain Village with asking prices less than $2 million inevitably led to a pull back compared to last year’s sales. Through June, this year has 28 condos sold or under contract compared to 40 in 2018. The average price per sale has increased.

Only four lots sold in the Mountain Village so far this year well behind last year’s pace.