Vail real estate hurting, but not like it is in some resorts
In Telluride, sales are off 80 percent from last year
VAIL, CO. — Over the first few months of this year, real estate brokers around Jackson, Wyo., could go weeks between closings. In Telluride, Realtor Mathew Hintermeister has received plenty of offers on a home he recently listed at a new, lower price, but the offers have been 40 percent or more below even the discounted price. Around Park City, the real estate market is on track for a sales volume number less than half the one posted just three years ago.In short, the Vail Valley isn’t the only mountain resort area with a wounded real estate market…The current market around the mountain resort area is still reeling from the collapse of the country’s financial sector last September and the continuing national economic slump. The Telluride area seems to be the hardest hit.
By Scott Miller, August 3, 2009, Vail Correspondent, Aspen Times