Vail Valley Luxury Real Estate Market News

The Vail Valley luxury market keeps moving, and we’re doing our part! The Rocky Mountain Home Team closed on 266 Copper Spur on Friday, May 2nd! Congratulations to the new owners!

All the latest news in Vail Valley Luxury Real Estate from the Rocky Mountain Home Team:

May 9, 2014

Movement continues at the top of the Vail Valley Real Estate market. The Vail Board of Realtors Multiple Listing Service has recorded 114 residential real estate sales of over $1 million each from the first of the year through the end of April 2014. Nearly half of those sales (54) were over $2 million, and 13 were over $5 Million. In 2013, the same period saw only 77 sales over $1 million, 28 over $2 million and just five sales of over $5 million.

Simply calculating average sale prices is never a good idea in the Vail Valley luxury real estate market, and that is especially true in when the market is this active.  In April 2014 alone, two Vail Village properties sold for over $14 million, a figure that is bound to skew the monthly statistics.  A carefully prepared comparative market analysis remains the best way to determine the value of your Vail Valley property.

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Nationwide, a recent REALTOR.com survey determined that 13 percent of surveyed consumers are ready to buy a luxury home.  An additional 26 percent are considering a high-end home purchase.  A chef’s kitchen was rated an important feature by 54% of respondents, while 44% considered views a significant consideration.  Perhaps the most heartening part of the survey is that nearly one fifth (19%) of those consumers reported that “recent career success” was the primary reason they were in the market for a luxury home.

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The growing national consumer base for luxury homes means it is now more important than ever to promote your luxury property not just within the Vail Valley, but beyond it as well. While a strong connection to and knowledge of  the local community is still extremely important, a nationwide and even global marketing plan is becoming an essential part of luxury home sales. Did we mention that Keller Williams now has over 100,000 agents across the globe?

Check this blog regularly for the latest Vail Valley luxury Real Estate Market News from the Rocky Mountain Home Team. If you are interested in buying or selling luxury property in the Vail Valley, contact us to learn how our systems can become your solutions.

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