The latest sales figures demonstrate a positive direction for Vail Valley real estate. The month of June reflected $95 million in sales volume county-wide, up from but $40 million in January. And each passing week of the summer season has seemed busier than the one before it, leading me to expect good things when the figures come in for July, August and September.

While this trend is quite positive in light of the events of last fall, and the continued economic challenges faced by our country, they are a significant drop from years past. Monthly sales volume averaged $186 million in 2008, and $247 million in 2007. To say we are experiencing a major adjustment in our market would be quite the understatement.

Yet contrary to popular belief, significant transactions are still occurring throughout the Vail Valley, albeit at a much slower pace than in years past. Select, one-of-a-kind properties... those which come on the market once every ten-to-twenty years... have continued to sell. And those properties which are priced according to today's market environment, versus that of the past year or two, have also seen activity. We have seen transactions as high as $15 million close this year, and additional properties listed as high as $12 million go under contract. In many instances, if not most, closings are reflecting substantial discounts from original list prices… something that has not typically occurred in our market in years past. These transactions reinforce the observation that this is a good time to buy, at least in the eyes of a few select, savvy buyers.

Many of these buyers have a long history of ownership in our community. Based on their personal experience, they recognize the many benefits... lifestyle, family, financial and otherwise… of buying in our market during uncertain times such as these. These are especially ringing endorsements for our market, and bode well for our future success.

Based on our current sales trends and showing activity, I sense that we are beginning to turn a corner, and that we will see continued sales growth once the summertime figures for July, August and September are in. Stay tuned… it’s sure to stay interesting!!