The high end real estate market here in the Vail Valley has shown continued strength as we enter into 2007.? Looking at recent sales in Vail, 6 of the new Gore Creek Place duplexes closed with prices ranging from $3.55M to $4.65M.? That works out to about $1050/square foot, a virtual steal in today’s high priced market.? These fortunate buyers had the foresight, or good luck, to get under contract?during construction,?when $1000/sf was still pushing the envelope.?
“Instant Equity” is something anyone buying real estate wants to hear.? And all the buyers at the Arrabelle?at Vail Square?now have equity like you read about.? Some of the fortunate few who are under contract in this new project, are re-listing their condo units for over $1 million?more than the original contract price.? Not bad for a few years time.
One smart seller cashed in on the current demand for high end property by selling their Vail Rowhouse condo, on Gore Creek in the heart of Vail Village, for $8.75M, or about $2930/square foot.
To learn more about the Vail Valley real estate market, contact
It has been dry here in the Vail Valley for the past weeks, and it looks like we’re about to get some snow.? I say this, half-cringing, because to talk about it makes it less likely, if the weather reporters are an example.
There is currently a snow advisory in effect from 6pm Thursday (1/4/07) until 6pm Friday.? This comes as welcome news as both Vail and Beaver Creek are hard pack and in need of a bit of powder.
Vail Mountain averages about 350 inches of snow per year, and year to date, we’ve recieved 123″.? The forecasting-powers-that-be expect a heavier than average later season snowfall.? Great news, if we get it, as everyone loves fresh powder snow!
Please feel free to call or email Doug Schwartz of Gateway Land and Development with any questions you may have about the Vail Valley.?