Property values rise in Vail, some even over 50% in a year

The Vail Valley real estate market has seen significant growth in the past year.  2004 was a banner year, setting new records for residential sales volume with $2.225 billion.  As a whole, sales prices for properties in the Vail Valley grew at about 16%, with specific pockets returning over 50%! 

One such locale was the Vail Racquet Club.  In the beginning of 2004, one bedroom units sold for under $200,000, or close to $300/sq. ft.  Currently, one bedroom units are selling for over $300,000, or about $500/sq. ft.  What a difference a year makes!  (2 and 3 bedroom units showed similar results.)

Just across I-70 from Lionshead, the Sun Vail condominiums sit next to the pedestrian bridge.  These units have also seen a jump in price, averaging over 20% in one year.  And with Lionshead slated for major redevelopment, the happy valley looks poised for another great year in 2005.

While there are no guarantees as to how the real estate market will behave, we here at Gateway Land and Development Co. believe that diligent research gives our clients the information they need to make good decisions.  Please contact us at www.vailpropertysearch.com for all of your real estate needs.

Contributed by Gateway Land and Development gateway@gatewayland.com Office: 970.926.6777 | Fax: 970.926.2698 http://www.gatewayland.com

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