From the Vail Daily comes reports of a strengthening Real Estate market in Vail where October posted 2008’s highest overall sales. Great properties in Vail and Beaver Creek helped bump these numbers, particularly the Westin which we’ve covered in past posts here.  Though the economy faces a troubled future investment in the Vail Valley has illustrated the strengths of the market and what a resilient place it is.  The following is an excerpt from the Vail Daily, the full article can be found here.

VAIL VALLEY, Colorado – October was the biggest month so far this year for real estate in Colorado’s Vail Valley, according to figures released Wednesday by the Land Title Guarantee Company.  The boost came from 40 closings worth about $32 million at the recently opened Westin Resort in Avon.  The total dollar volume for October was $167,624,200, which equates to an overall average sales price of $956,373.

There were seven transactions over $4 million. Four of those transactions were at the Willows in Vail.
Rod Slifer, founding partner of Slifer, Smith and Frampton Real Estate, said he felt the majority of the closings came from the Westin Resort and Arrabelle.  “If you pulled out those two, I think the number would be a lot lower,” he said. “If you go back a lot of years, the number of transactions has declined every year, but the dollar amount of the transactions have increased.”  With the economy struggling, Slifer said the report was good news for the Vail Valley.  “I think we all know the economy is slowing down,” he said. “We just need to hang in there.   “Snow would help, too,” he added, “but if we could have numbers like these every month, I’d be a happy man.”

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