I recently returned from a Vail, CO ski trip and the local media reported that the sale of luxury real estate there was up over last year. Luxury sales were nowhere near there 2007 or 2008 high, but markedly improved from 2009. In the Vail area there were 38 sales over $5 million. This compares to just 20 sales over $3 million in the entire Las Vegas luxury home market. It was amazing to see the high concentration of luxury homes in a small area like the Vail valley. Stronger luxury home sales throughout the country will help Las Vegas as many of those luxury home sellers will decide to purchase in our much more affordable luxury home environment. Las Vegas is well positioned for a luxury home real estate recovery!
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