Only 100 miles west of Denver, Vail, CO is known for its scenery and vast array of outdoor activities. Vail Ski Resort is the largest ski resort in the United States, with nearly 5,400 ski-able acres. It’s been voted the number one ski resort in the country by Ski Magazine 14 out of the last 19 years. For summer activities, there are numerous bike trails and 12 golf courses within 15 miles of the center of Vail. With this quality of life, it’s no wonder that many people real estate and vacation rentals in Vail. For ease of ownership, many choose condos. In addition to the stunning scenery and outdoor opportunities, Vail also has an array of cultural activities. The Vail Valley Music Festival is an annual event, which features dozens of acclaimed soloists, and usually boasts several nationally acclaimed orchestras. Additionally, despite a population of just under 6,000, Vail offers 120 restaurants with varying cuisines. It’s cosmopolitan living, in a small mountain town. Condos are sprinkled liberally throughout the Vail Valley, or, more correctly, the Eagle Valley. They range from slope-side vacation rentals to year-round housing. Including East Vail and West Vail, the town is seven miles long, and two miles wide.
Free bus transportation is abundant in the region, and many people walk or bike, even in the winter! Vail is a very safe area, with very few violent crimes reported in a 2000 census. The real estate market in Vail is booming, with the first part of 2007 showing a 30% increase in value of sales. There are over 5,000 housing units, with the majority having been built since 1977. More than half of them are condos, some occupied by owners, some are long-term rentals, and some are vacation rentals. Eagle County, the county in which Vail is located, has nearly 50,000 full-time residents. That number is expected to double by 2030. The unemployment rate in the area is two-thirds the national average, and job growth is a whopping 3.0%, well above the national average. Public land in Eagle County accounts for 82% of the space, so marketable real estate is limited to a small area, which has driven prices higher and higher.
Vail Resorts has teamed with the town to build a new, large parking structure at the base of the ski area. This new structure is driving additional developments around town, including pedestrian and street improvements. A big renewal is underway, with demolition of older buildings and construction of more than 100 new condominiums.