As the summer season rolls into its final weeks, I am beginning to hear rumblings from fellow brokers that activity is slowing, things are down, the high end is off pace, etc. On the surface this would seem to be expected, given the national headlines featuring softening markets and a shortage of buyers, and further compounded by the recent volatility in the financial markets. It doesn't take long for these gloom and doom scenarios to cause consternation, especially if a broker has not sold his or her listings over the summer season!

The truth of the matter, however, is quite different. We remain in the midst of a very strong and solid real estate market in Eagle County, similar to many other luxury resort areas around the country. At the end of the first half, Eagle County sales volume was up 25% over last year's solid pace.

Another murmur that I hear is that our sales volume is up only because prices have risen so quickly over the past few years, and that the luxury niche is carrying the rest of our real estate market on its back. Once again, the numbers just don't back this up. The number of transactions through the end of June was down but 3%, essentially a break-even number. And while the high-end niche continues to be very active, up double digits almost across the board, properties priced under a million continue to sell.

Unlike years ago when sales activity was concentrated mainly in Vail Village and Beaver Creek, our market is now as spread out as it is diverse, with significant transactions occurring from East Vail all the way to Gypsum. While a Vail Village broker might feel that activity is off track, in fact, record-setting sales may well be occurring up and down the Vail Valley. Buyers in our market have more attractive opportunities than ever before, and are finding many of these diverse sub-markets to be quite appealing and worthy of their investment.

Further augmenting the strength and depth of our market are the number of multi-million dollar closings that will soon begin to take place in Vail and Lionshead. 333 properties listed at $1 million and greater are currently under contract, representing a total listing value of $1.06 billion. Comprised mainly of new developments such as Forest Place, Arrabelle, Manor Vail and others, these properties reflect an average listing price of $3.19 million, and an average price per square foot of $1,152. These new properties are "raising the bar" throughout the valley, with very positive ramifications for the market. Our sales numbers will be bolstered well into the future, the value of older existing properties will continue to rise, and the base of committed homeowners throughout the Vail Valley will continue to increase.

Unlike Denver, Miami, Las Vegas and other metropolitan areas which are experiencing softness in their markets, you should not expect to find an overabundance of sellers in the Vail Valley who are desperate to get out of their property. What you can expect is to be able to choose from a very attractive inventory of unique properties, to strike an agreement that is fair to you, and to enjoy your property for years to come.

So don't pay attention to the "background noise" of a softening market in the Vail Valley... it's just not a fact. DO pay attention to the wonderful opportunities that are currently available for your consideration. DO pay attention to the ongoing strength and depth of demand we are experiencing, and how this will affect values in a market of limited supply. And DO know that this is likely to be one of the most enjoyable acquisitions you will ever make, one which you and your family will value for a lifetime.