Even though many of the newspaper articles indicate 2012 has seen a resurgence of the Roaring Fork Valley real estate market, the statistics indicate otherwise. As evidenced by the spreadsheet below, except for Basalt/El Jebel the valley continues to be feeling the ill effects of the recession. Because of these facts, the market continues to be a strong buyer's market.
The Aspen market has shown the biggest decrease from 2011 to 2012 for the first quarter statistics showing a reduction in total real estate transactions of 39.52%. When one examines the data in detail, the first thing that becomes evident is the fact the average transaction size went down by 31%. This was due mostly to the fact that in the first three months of 2011 there were five transactions of greater than $10 million whereas this year there was only one.
The Snowmass Village market has also gone down significantly, but the average transaction size has stayed virtually the same from year to year. Snowmass has seen a reduction in transaction volume of 32% from the first quarter of 2011 to the same period for 2012.
The Basalt/El Jebel market has been the exception to the other Roaring Fork Valley towns. Because of the significant increase of transactions, this market has gone up by 25% even though the average price of a real estate transaction in this area has gone down 34%.
The Carbondale fist quarter total real estate sales have gone down about 9% even though the number of transactions has almost doubled. This is due to the fact that the average transaction price went down by 56%.
One thing that has been consistent for the first quarter in all of the towns of the valley is that the average price of a real estate transaction has gone down. This is because most of the transactions are distressed sales made up of the sale to highly motivated sellers, short sales sellers, properties in foreclosure and banked owned properties.
As I mentioned at the beginning of this market analysis, we continue to be in a strong buyer's market. This is a buyer's perfect storm. Both prices and interest rates are at all time lows. If you would like to capitalize on the on this rare opportunity, please give me a call or drop me an email. I make it my business to keep track of the best deals in the market.
Town 2011 Average 2012 Average % Change Total Trans Size Total Trans Size Total
ZIP Codes: 81611, 81612 Approximate Location Boundaries: Aspen is flanked by Independence Pass, Ajax (Aspen Mountain), Smuggler Mountain and Red Mountain. The Roaring Fork River cuts through the middle of town and marks both of the entrances/exits of the town.
Location Characteristics: Aspen, Colorado is the infamous playground of the rich and famous. A skiers paradise in winter and everyone's paradise year-round. A truly unique and wonderful mountain town replete with all the charms of Colorado's rugged past combined with its modern present.
About Jack G. Gausnell:
Jack Gausnell has an extensive background in both the real estate and information technology (IT)/Internet industries. Jack was brought up in a real estate family by a father who was the founder of a large real estate brokerage in Kansas City. Jack obtained his first real estate license when he was only twenty years old. It was at this time that Jack learned the habits of successful real estate professionals.
Jack also began his career in the information technology industry selling mainframe computers in his twenties. During his career in the computer industry he held titles such as Vice President of Sales and Managing Director of Europe for two of the industry's leading multi-national corporations.
In 1996, Jack moved from Europe to the Roaring Fork Valley and began focusing his energy on real estate as a broker for the Roaring Fork Valley's largest real estate agency. In the late nineties, Jack received his Graduate Realtor Institute (GRI) certificate and just recently received his ePRO certificate. With over 30 years combined experience in both sales/marketing, real estate and the information technology industry, Jack's seldom-found level of sophistication and saavy makes him an ideal choice as your listing agent. Additionally, Jack knows how to find just the right property to suit anyone's individual tastes and needs. Jack has always embraced new technology and today he continues this tradition by utilizing the Internet as part of a multi-faceted, modern approach to his successful business strategy while never forgetting the importance of person-to-person communication and quality service delivered in an earnest and sincerely genuine fashion.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
