The holiday season is proving to be as active as any in recent memory, winding up a truly terrific year in Vail Valley real estate. Though final numbers won't be in until late January, the possibility remains good that we will establish a new, all-time sales record in 2007.

Many who are not familiar with the intricacies of our market find this trend hard to digest, given the negative headlines pertaining to real estate around the country. Yet luxury resort markets throughout the country continue to show solid activity, if not growth, and remain as desireable locations in which to acquire property. This is particularly true in resorts such as Vail, Beaver Creek and Bachelor Gulch, where supply is quite limited and demand continues to be as solid as ever.

Several noteable properties have either closed or been placed under contract since the beginning of December. Some highlights are as follows:

Vail - 2405 Elliot Road - otherwise known as The Savory Inn - listed at $4,950,000 - Under Contract

Vail - Arrabelle #617 - Condo listed at $4,999,000 / $2,093 square foot

Vail - Arrabelle #555 - Condo listed at $6,950,000 / $1,788 square foot

Vail - 315 Forest Road - Duplex sold for $8,150,000 / $2,189 square foot

Vail - 325 Forest Road - Duplex sold for $9,350,000 / $1,764 square foot

Vail - 330 Beaver Dam Circle - Duplex sold for $6,700,000 / $1,964 square foot

Vail - One Willow Bridge Road #307 - Condo sold for $5,300,000 / $2,865 square foot

Vail - One Willow Bridge Road #402 - Condo sold for $6,127,000 / $2,200 square foot

Vail - 798 West Forest Road - Duplex sold for $4,000,000 / $1,105 square foot

Vail - 796 West Forest Road - Duplex sold for $8,967,500 / $1,628 square foot

Vail - 618 Forest Place - Single family sold for $15,000,000 / $1,314 square foot

Beaver Creek - 210 Elk Track Rd - Single family sold for $8,400,000 / $1,024 square foot

Beaver Creek - 569 Holden Road - Single family listed at $5,250,000 - Under Contract

Bachelor Gulch - Ritz Carlton Penthouse #1005 - Listed at $6,195,000 - Under Contract

Bachelor Gulch - 89 Hummingbird Lane - Listed at $6,500,000 - Under Contract

A strong indicator of the confidence astute buyers have in our market is reflected in four of the above sales. A single buyer acquired both sides of the duplex at 315 and 325 Forest Road, representing a total investment of $17,500,000. Likewise, a single buyer acquired both sides of 796 and 798 West Forest Road, totaling $12,967,500. In both cases, the buyers saw the value of controlling both sides of a property in a location that will never be duplicated, in a resort where values are showing solid appreciation.

Likewise, the buyer of 618 Forest Place, one of but four gorgeous new single family homes situated directly on the Lionshead skiway, recognized the irreplaceable nature of this perfect location and beautiful home. It would be an understatement to say that $15 million represents a good value for a home with these attibutes in the Vail market.

All of this is to say that, in spite of the negative headlines selling newspapers around the country, and the challenging times that many markets are in fact facing, luxury resort real estate in the Vail Valley still represents a sound acquisition. If you see a property here which meets your family's dreams and wishes, I would encourage you to move forward with its purchase. Doing so will create irreplaceable memories for your family over the years, and if history holds true, you will also smile at the closing table when it comes time to sell!