Vail Daily letter: Good trends in Cordillera
I’m writing this to share the positive news that is coming from the Cordillera real estate community.
Buyers are, on a whole, feeling positive. People feel like the economy is stable and that the stock market doing well. They also feel like the Club at Cordillera is doing well, as evidenced by the new memberships that are being sold. Between the stable club and the stable economy and the fact that we have great homes, we’re seeing a lot of positive response on the real estate front.
Property sales are on the rise: There were five properties sold in February with eight properties going under contract in the same month. Property values continue to show healthy growth: In the last 12 months, we’ve sold six homes for more than $3 million each, which is twice the number that we sold last year. We’re seeing more new homes being built: Seven houses were built in 2013 and 2014 combined; there are 12 homes scheduled to be built thus far in 2015.
It’s not just homes that we’re seeing sell: The prices for land sold has more than doubled since this time last year; the average price for a parcel was $118,000 last year and this year its average price is $258,000. People have confidence in Cordillera, and they’re putting money into it.
I share these numbers to illustrate the continuing recovery that we’re seeing in the Vail Valley as evidenced by one community.
I contribute this success not only to general stabilization of the economy, but also to changes that we’ve seen over the past few years at the Club at Cordillera and the new energy that can be felt in our neighborhood. With the hiring of Rachel Oys as general manager, I’m seeing a new collaboration and enthusiasm that will continue to elevate the experience of living and recreating in the Cordillera community.
I’m looking forward to the spring and summer selling season. We’re seeing buyers from all over the state of Colorado, from Denver, Colorado Springs, Fort Collins and farther afield. People are really positive about the Club and about Cordillera as a whole — what we’re seeing are all good trends.
Slifer Smith & Frampton