Broker Mike Woolley is bullish on Angel Fire.
"We haven't had a slowdown," said Woolley, who has seen many real estate peaks and valleys in his 16 years in Angel Fire, in a recent interview. "We feel confident about the rest of this calendar year, anyway. Resort real estate is an up-and-down roller coaster. But we're happy with where things have been for two years."
Angel Fire was dubbed "America's most affordable ski town" by Realtor.com. Angel Fire Resort was ranked a top-25 "best family ski resort in North America." This year, the resort town set a record high in 2016 for single home and condo sales, with more than $105 million in sales, a 37 percent increase over the previous year, according to Woolley.
Woolley's firm, RE/Max Mountain Realty, closed more than $45 million in sales last year.
"It was the highest sales in our town's history of real estate," said Woolley in a press release. "We attribute this to several factors. First, we saw significant increases in visitors to the area from our Texas neighbors, who ended up purchasing second homes, due to our cooler summer weather and the great winter skiing. Secondly, there was a small drop in listing prices that were more in balance with the current market. Finally, we've seen the town and resort continue to grow and offer more to do and experience here in the community. It's the kind of trend we want to continue."
In 2016, 168 homes and condos were sold across Angel Fire, Black Lake and Eagle Nest. With approximately 300 homes currently on the market, the houses traditionally take just less than a year to sell.
"So far we're up over about 10 [percent] from this time last year. Based on current trends we're expecting in the market we are expecting 2017 to be a strong real estate year as well," said Woolley in a statement.
Woolley said the resort and town have worked hard to expand community events throughout the seasons. There's a new weekly Arts and Farmers Market, the "Cool Summer Nights" free outdoor concerts and the inaugural "Angel Fire Food and Wine Roundup," a four-day Western-themed food, wine, spirits and craft beer festival put on by Angel Fire Resort.
"For years this place has been a hidden gem for Texas families to come up and ski our 2,000 vertical feet of great cruising runs. However, over the past few summers the resort has invested in adding major events, capital improvement projects and new summer activities to increase its year-round popularity," said Spencer Weimer, director of marketing, Angel Fire Resort, in a statement. "In addition to the multi-million-dollar country club at the golf course, we've recently opened a luxury RV Resort, added one of the highest zipline tours in the country and expanded our bike park to over 64 miles of trails, which is ranked the #1 bike park in the southwest."
"They've done a fantastic job of moving us out of just a ski resort to more of a year-round resort," said Woolley in a recent interview. "For the real estate market, we're just delighted. Summer is our big time up here. We sell the majority of our houses between July to [the] end of October."
Capital improvements to the ski mountain, expanded snowmaking systems, road improvements, adding utilities to lots and even adding fiber-optic ultra-high-speed internet service to the area are all adding to the recent growth.
While the median house price is currently $389,000, the area offers several below $150,000 all the way to $2.5 million. Lot prices tend to start around $10,000 up to more than $300,000.
People who purchase a home, condo or land within Angel Fire Resort are entitled to membership to the resort. The membership includes access to downhill and Nordic skiing, snowboarding, golf, country club indoor pool, dining, tennis, downhill and cross-country mountain biking, ziplining, fishing, boating and fitness training and classes.
"When you compare us to Colorado, your money goes a whole lot further here in real estate than any of those other big resorts," Woolley said.