Double Digit Growth at the Reserve and Avon Crossing

The Real Estate market here in Vail continues to grow steadily month after month.  August 2005 was the 4th strongest month ever with almost $234 million in residential sales.  While the Eagle and Gypsum markets are driving the growth, there are still many up-valley pockets that have shown out-of-sight appreciation.

The Reserve is one such development in Edwards that has seen sales price increases in the  20+% range.  In 2004, 2 bed/2bath units sold at around $238K.  In 2005, these same condos have seen sales above $300K (with the average around $280K)  There are currently 2 under contract that had list prices at $325K and $345K respectively.  That could potentially lead to about 40% growth in one year. Wow!

Avon Crossing in Avon has seen similar results.  2 bedroom units that were selling in the mid $200k’s in ‘04 and early ‘05, are now approaching the mid $300k’s.  If the proposed gondola goes in across the street, watch out.  (These will become the urban version of ski-in/ski-out.)  2005 is on pace for another record setting year, and certain locales in the valley are ripe for growth.

To view the current real estate listings in the Vail Valley, check out www.vailpropertysearch.com

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