Further Evidence of a Solid Real Estate Market in the Vail Valley
While questions abound for many metropolitan areas, Vail Valley real estate figures continue to support the contention that we remain one of the most solid markets in the country. Recently tabulated figures show that our real estate market is up over 20% in sales dollar volume, and we are taking aim on the $3 billion mark for the first time in history.
Year-to-date through early September, sales of properties listed at $1 million and greater are up a whopping 28%, with 406 closed transactions this year versus 317 in 2006. These sales are dispersed up and down the Vail Valley, led by Beaver Creek and Vail, and followed by Bachelor Gulch, Arrowhead and Cordillera. All-in-all, a balanced and active high end market.
Also noteable is the 41% increase in transactions of properties listed at $5 million and greater, with 38 such deals this year versus 27 a year ago.
Looking ahead, there are currently 326 properties listed at $1 million and greater that are under contract, representing approximately $1.17 billion in new sales and an average price tag of $3.56 million.
Each of these statistics are certainly impressive unto themselves, particularly given the uncertainties in the financial and housing markets nationwide. Taken together, they represent a ringing endorsement of both the present and future of Vail Valley luxury real estate by an astute, discerning clientele.
In closing, the future of the Vail Valley real estate market remains bright, both in the short and long term. It is a good time to call this "home"!
