Vail duplex sale for a record $57.2 million shows the strength of the local market

A duplex on Vail Road near the Vail Interfaith Chapel sold in August for $57.2 million. The value of all August sales set a new record of $418 million
Scott Cramer Photography

The biggest home sale in Vail was actually two sales.

Kevin Ness, a biotech entrepreneur, recently purchased a duplex on Vail Road for $57.25 million. The sale, like most high-end deals was a cash deal.

One of the duplex units is 8,500 square feet. The other is 6,500.

The original idea was that previous owner Alejandro Rojas would keep one of the units, but Ness made an irresistible offer.

Tye Stockton, leader of LIV Sotheby International Realty’s Stockton Team, represented the buyer in the deal.

“My buyers fell in love,” Stockton said, adding that Ness said he was looking for a “generational” property for his family.

“We closed it in two weeks,” Stockton said.

Eustaquio Cortina of Ron

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The best real-estate markets in America, based on economic strength

  • If you’re interested in home buying, you should understand the housing market first. 
  • Home prices have been rising on average throughout the pandemic, even though supply and demand vary significantly nationwide based on location. 
  • Personal finance website WalletHub studied and ranked the best markets to buy a home in the US, where Boise topped the list, followed by Seattle.
  • Visit Business Insider’s homepage for more stories.

Whether you’re looking to invest or to find a new home, understanding the housing market is important before you purchase a property. 

And this year has been the right time to buy for many Americans, as interest rates have have hit record lows in recent months as a result of the coronavirus pandemic.

Despite opportunity for some, home prices have been rising throughout the pandemic on average, even though supply and demand varies significantly nationwide based on location. 

To determine the best real-estate markets

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