The Best of Vail Valley Real Estate

Information About Vail Real Estate

Vail Valley is an entirely different real estate market than most people expect when they first consider moving their families here. Looking for a single-family home in Vail, Avon and even Edwards in a reasonable price range hardly exists. Moving “down valley”-the local term for Eagle and other lower-lying towns west of Vail is where families usually head now days. In Eagle you can still find a town home of around 1,800 ft. for around $355,000.00.

The growth in the Vail Valley has “exceeded everybody’s” expectations.

Eagle County’s population has gone from 5,000 in the 1960s to 50,000. Most view the impact as positive and a much better place to live because of all the amenities. Because Vail Valley is surrounded by national forest it can be thought of as an island. Almost 82 percent of Eagle County is public land. Because of this geographic limitations, Vail Valley has offered lucrative returns for the better part of the last 20 years. The biggest price increase was 2004-2005 when things hit a real frenzy. 2006 is still considered a good year , seeing more primary residents moving here including retirees and pre-retirees.

The most appreciation recently has been in the lower prices-residential

properties that were $400,000 in 2003 are going roughly for $800,000.00 today in 2006. This boom market of 2004-2005 does have a downsize as it raises a concern for fordable housing. This has given the Eagle County Commissioner, Arn Menconi a goal since taking office in 2000. Affordable housing is his signature issue. Most residential properties in Vail and Beaver Creek are pricey second homes. The down the valley population is more middle-class full-time residents.

The refrain now being song in Vail is “Everybody’s moving to Eagle”. That at least is what the thirty-some-things are singing who moved here to ski 10 years ago and are now starting families and wanting more room. These folks cashed out their equity in smaller condos near slopes and are now buying larger places down valley.

The “new urbanism” of the Riverwalk at Edwards

is a result of retail and other businesses following this migration down valley. Riverwalk at Edwards is a chic assortment of Main street facades with upscale shops, restaurants and a movie theater. This is all on the banks of Eagle River. This trend continues even farther down valley into Gypsum where a Costco is under construction. This will be the first time the retail gaint has gone in a market of fewer than 150,000 people.

A good chunk of business has been snatched from Vail by Edwards businesses. Perhaps because of this Vail has started their New Dawn redevelopment at $500 million. A number of new restaurants, hotel and retail projects are now under construction with several more still on the drawing board. There are many new places to come but the new Tivoli Lodge and Sonnenlap Resort expansion are the first two shining rays of light of the New Dawn project.

Fractional ownership is popular in Vail because of the unyielding demand...

for ski-in, ski-out property in Vail town limits. Almost all of the New Dawn projects have a residential part to them including the Four Seasons Resort and Residences Vail, Arrabelle at Vail Square, The Ritz-Carlton Residences, and the Vail Plaza Hotel and Club. These projects have generated $45 million in sales before welcoming their first guest. Almost 50 percent of the fractional opportunities have already been sold.

Eagle County’s population is expected to double to nearly 100,000 by 2030 . Most observers believe there will be even more down-valley migration. The whole area looks poised to boom with the infrastructure being laid in Gypsum. The baby boom under way and the family life here makes for a much different atmosphere than the resort towns up Vail Pass.

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