Vail Valley Real Estate Blog

As Vail continues with its $1billion renovation, which comes just 30 years after the world class ski resort was first envisioned, second, third and fourth homeowners are taking making some changes of their own.  Some are selling their condominiums in Vail proper and using that equity to trade up to five, even seven bedroom homes down valley.  Other owners are choosing to take the equity and buy fractional ownership, which gives them a piece of Vail without the hassle, perfect for those only using their places for a few weeks out of the year.  There are some opting for new construction Vail condominiums and are willing to do so at prices of over $2500 per square foot.  The prices remain strong in this range. That has over flow to the single family homes. To the point an $18,000,000 just sold here.

We currently are  working on a new construction single family home with a secondary on a site on Forest Road in Vail that will have a priced in the that $18 million range. The architect is promising a residence of the highest quality. It will be both functional and captivating in design.

There are always a group of Vail buyers who know exactly where they want to be, but do not like the homes that are currently in those locations.  They have their own ideas and want precisely what they want and want to do it from the ground up. This group is engaging in “scape-offs”, where they buy the home for the location and are scraping it off the land to rebuild the dream home.  A buyer recently purchased a home in Vail for $15million only to tear it down and rebuild one from scratch.  Needless to say, land is becoming so valuable in Vail that some predict within 10 years, the market will be completely built out and the only option is going to be the next “scrape-off” opportunity.