State of the Market
Vail Valley Market Report for Luxury Properties
We have your Vail Valley market report for the Vail Valley luxury sector. Here is what you will need to know about the current market and buying climate in the Vail Valley. Welcome to another episode of One Take Talks with Jeffrey Clooney, your host from Berkshire Hathaway Home Services, Colorado Properties and Mountain Luxury Group. This is where I just go totally authentic, right off the top of the head here and discuss things that are important to you in our real estate market in the beautiful Vail Valley. Today we are going to talk about what is going on in our ultra real estate market. This is incredible times that we're seeing right now, and what's happening is we are seeing some elite transactions taking place on the luxury level that the Vail Valley has never, ever seen before. Let me give you an example of what is going on. I ran some numbers for a client of mine to give them an idea of what's going on in our luxury sector of the Vail Valley. And when I say luxury sector, we're talking about Vail Village, Lions Head, Beaver Creek, Bachelor's Gulch, Arrowhead and Cordillera. Plus, Red Sky Ranch and Mountain Star, all of which are gated communities for the most part except for our Vail Village market over there. I must tell you right now, presently there are 18 properties that are under contract that are north of 5 million bucks. What's more interesting is there's only a couple of 5 million and then they go shooting to the stars. 18 transactions are constituting over 181 million. That is under contract right now. We have a 20 million property that is under contract that is a townhouse. We have a single-family home that is under contract at 22.9 million. So, what we are seeing is actually some of these subdivisions such as Beaver Creek, where we do have a 22.9 million property that is under contract that is going to shatter our records for highest both on a price standpoint but also on a square foot standpoint. That is really mind boggling and exciting. It's probably going to be paving the way for the future of our resort luxury real estate sector here. One of the things that I think is quite important about our very high end market that is happening right now is that I think part of the reason why this is happening, is the 1% families out there have gotten a little discouraged, possibly lost a ton of money in their investment portfolios, and whether that is stocks or other avenues that they are exploring, they're losing money. So, what are they doing? They're doing something smart and they are coming into our resort market and they are investing in assets that are holding their value. That is such an exciting thing to recognize whether you're an entry level buyer who is just looking to get into the market and to buy a spectacular condo or townhouse or duplex outside of our resort core which will be a lot less than some of these crazy prices that we're seeing right here. If we're taking our word for it from the very ultra-elite, then this is the right spot to be putting our money right now. I think that is important for us common folk to realize that real estate is still the number one spot to put your money. If you want to grow your legacy, if you want to grow your wealth, real estate is the way to. So that's all I got today. I want you to follow me though, so subscribe to my channel. I try to put out everything from the lifestyle and restaurants to where to go and what to see and where to ski plus amazing pieces of real estate. If you have any questions about this, reach out to me, I'd be happy to help. Have a great day, everybody.