Vail Real Estate mid-winter update

Vail Real Estate in 2006 seems to be as hot as it was at the beginning of 2005 which was an all-time record year for the Vail Valley in both real estate volume and transactions.  In 2005, the real estate volume shattered the past record by 600 million at 2.8 billion; nearly a thirty percent increase.  You can see more 2005 Vail real estate statistics here.

According to the Vail MLS for real estate in the Town of Vail proper, there are currently 84 condominiums available for sale.  238 condominiums sold and closed in this area last year which suggests that the supply of property is not keeping up with the pace of sales, especially when you account for the available properties that are now reaching record high asking prices.

When looking at Town of Vail real estate duplexes and single-family homes, 89 sold in 2005; there are currently 61 properties listed for sale in the Vail MLS; however, only four of those are offered for under one million dollars and twenty of them have asking prices over five million dollars.

It appears from the lack of inventory that Vail Real Estate is still hot and will continue to be in high demand in 2006.  Another factor that will contribute to Vail real estate success this year is the renaissance period taking place in both Vail Mountain ski-in/ski-out areas.  You can read more about vail’s new developments here.

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