2005 Offers High-end Buyers Plenty of Options

I heard any interesting rumor the other day upon running into a fellow real estate agent at the bank. During a quick chat about different neighborhoods and listings, he made the suggestive statement that only 1 single family home in Beaver Creek priced over $5 million sells a year. Being that Beaver Creek boasts beautiful homes with the convenience of a world-renowned village nearby, I found this tid-bit a little bewildering. I decided to do some investigating and came up with the following conclusions: 

While my friend’s analysis of the luxury market in Beaver Creek was a little exaggerated, it is in fact true that only a few homes a year in Beaver Creek priced over $5 million are sold. However, from what I can determine, in 2004, roughly only 8 single family homes were listed for sale with a price tag exceeding $5 million. Out of the 8, 6 sold. I’d say that is a pretty good sales ratio for the year. 2005, however, has not been so successful. Thus far this year, only 3 homes priced above $5 million have sold or are scheduled to close by the end of the year and yet 18 have been listed for sale.  Why is the market so much slower this year and what does this all mean? 

For those looking for a higher-end “deal” in the $5-8 million range, Beaver Creek might be the perfect place to look. Beaver Creek sometimes gets overlooked by the typical tourist or second home owner looking for a mountain retreat and I am not sure why. The Village at Beaver Creek offers exceptional dining, shopping and scheduled activities. Beaver Creek Ski Mountain boasts some of the best skiing and shortest lift lines in the world. There’s a golf course, hiking trails, a very efficient bus system, and convenient access to the Town of Avon and also Edwards a mere few miles down the road. 

I don’t believe that the market in Beaver Creek will experience stalemate much longer. With the renovations underway in Vail and Lionshead and the price per square foot of homes in those areas nearing $1500/square foot, I have to believe that more people will start to see the value in Beaver Creek. For as low as $700/square foot, a buyer can obtain a fabulous single family home in Beaver Creek with top-of-the-line finishes, great views and an address to impress anyone. It’s a no-brainer. Call me to learn more.  970-331-9676

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