Colorado Mountain Real Estate | Luxury Home Sales Surge

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Colorado Mountain Real Estate | Luxury Home Sales Surge

The country may still be reeling from the over stated sub prime mortgage blues but in the Colorado high end luxury real estate market we are enjoying a boom that is really selling high end homes in the Mountains.

More specifically Eagle County Colorado, which is home to two of my favorite ski resorts Vail and Beaver Creek has seen record sales in 2007 and there are no signs it will slow down in 2008. Over all residential and commercial sales almost hit the $3 billion dollar mark in 2007, which surpassed the previous record set in 2005 of $2.8 billion in sales. This represents a 7 percent increase year over year from 2006 to 2007.

According to our experts at Legacy Real Estate Brokers, Inc., the end specialty market continues to lead the way as far as
Colorado real estate sales are concerned. We have seen as much as a 40 percent increase in sales of properties between $3 million to $5 million. This tells us there is still plenty of international money flowing into Colorado to purchase these trophy mountain homes. We are actively pursuing many very attractive projects we would like to share with our clients, visit www.discovercoloradorealestate.com to learn more about these real estate opportunities.

With several projects underway like the new Arabelle at Vail Square near the base of the Vail ski resort gondola showing continued increases in the price per square foot rising over the last two years. The continued push to build and sell high-end homes has increased and is part of Vail’s ongoing redevelopment surge, which continues to drive the high-end real estate market in these mountain towns.

There are over 70 million baby boomers who have ignored many issues in this market and continue to purchase ski in ski out luxury homes in Vail, Aspen and Telluride which are all prime real estate and ski destination locations. These people can afford the high end product and are looking for lifestyle choices without a lot of concern for price. At the same time with this market heating up they are also enjoying the appreciation of their investment as well, which makes it even more attractive as a real estate investment.

Other areas of the country may still be hesitating when it comes to buying or selling real estate but one market, the high end resort home market is experiencing an overwhelming growth unprecedented in this global market slow down. This niche market could prove to be some of the best opportunities anywhere in the country and make now a great time to discover the advantages and opportunities available in the Colorado mountain real estate market.

Tom Reed and Bill Brown are local authors and real estate experts of Legacy Real Estate Brokers Inc. in Denver Colorado. You can visit their website at www.discovercoloradorealestate.com.

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