Lionshead

16 Whole-ownership sales thus far for 2011!! In an otherwise slower moving market, The Ritz Carlton Residences, Vail is hopping and one of the best high end values currently available in Vail and Lionshead. The activity year to date is equal to almost $53 million in sales!

When compared to other brand new luxury properties, these represent a great deal, averaging about $1400/square foot. ( compare that to Solaris or The Four Seasons, both excellent products, but nowhere near this value)

There are currently about 39 luxury units available for purchase, ranging in price from $2,195,000 to $8,980,000. Located on the western edge of Lionshead, poised next to where the proposed EverVail project would be, The Ritz-Carlton Residences, Vail are close to world class skiing and to Lionshead's amenities.

The Ritz-Carlton Residences, Vail are looking great!? I recently toured the building in Lionshead, which is currently under construction, and progress is on time and of great quality!? With an expected completion date of fall 2010, there is still plenty of time to check it out.? (artist's rendering below)? And then buy one!

New Incentive:? Owners of residences in the Ritz-Carlton Residences, Vail?will now be given a free social membership to the Arrabelle Club!? ( a $51,000 value!)

Located on the western side of Lionshead, this new luxury resort will be a combination of fractional and whole ownership residences.? There will be a total of 71 whole ownership residences, of which 47 are currently under contract.? Prices range from $1,999,500 for a 2 bed/3 bath condominium up to $9,195,500 for a 6 bed/6 bath penthouse with stunning views.

The Vail Valley real estate market continues to show sluggish sales, although June 2008 saw the most transactions year-to-date.

The first half of the year concludes with 172 transactions in June, the highest number of transactions so far this year. Eagle had the most transactions with 24 followed by Lionshead with 17. Sixteen of those transactions in Lionshead were Arrabelle units which sold for more than $67 million; 8 of the Arrabelle?? transactions?were over $4 million in price.

Year to date, Eagle County topped the $1 billion mark and has an overall average sales price of $1,345,476. Lionshead has been the main contributor thus far with 68 transactions and more than $228 million in dollar volume. This is nearly twice the volume as Beaver Creek, the area with the second highest dollar volume.

June highlights:

With Vail Resorts set to?open Arrabelle this winter, 12 whole ownership condos are currently available for sale.? This brand new property will truly be one of the nicest in any ski town, with the all important ski in, ski out location?plus the?world class amenities we have come to expect.

Prices range from $2.78 million for a 2 bedroom unit to $14.5 million, for a 5 bedroom penthouse.? The median price of those listed is right around $5 million.? While not inexpensive by any means, the Arrabelle seems poised to become an iconic residence for the lucky few that own here.

To learn more about this project and the chance to own a property for the ages, please call or email anytime.

The Vail real estate market heads into the spring season with many?new listings.? Since 4/1/07 there have been 32 new listings added to the Vail Board of Realtors MLS system.? 17 of those are the Ritz-Carlton Residences, Vail, ranging in price from $3.85 million for 1705 square feet to $11.135 million for a 4137 sqaure foot penthouse.? (Upon the release of the Ritz project in West Lionshead, 54 went under contract in one weekend!)

On the more affordable end of the market, a Pitkin Creek one bedroom just hit the market, listed at $325,000.? This 656 square foot condo in East Vail is poised to get snatched up as a great entry property into the Vail market.?