Reported by Laurie Laing, REALTOR, 1031 Exchange Expert
Updated December 7, 2011.
Current Market Rating: 2
1
2
3
4
5
Buyer's
Seller's
Current Price Trend: 2
1
2
3
4
5
Falling
Rising
Pitkin County (Aspen/Snowmass) October 2011 Real Estate Market Summary:
· $90,428,710 - total dollars for the month, a decrease of 54% from October 2010 · 59 - total transactions for the month, an increase of 5.4% from October 2010 · $1,067,501,824 - total dollar volume through October, this is an increase of 4.7% from same time period last year · 643 - total transactions through October, this is an increase of 15.7% from same time period last year · Both dollar volume and transaction totals continue to track ahead of both 2009 and 2010 · Aspen accounted for 23 transactions ($56.4 million), Interval units 13 ($6.7 million), Snowmass Village 12 ($14.6 million), Old Snowmass 4 ($7.9 million), Basalt 2 ($3.3 million), Woody Creek 2 ($429,075), Carbondale 1 ($1.1 million). The remaining 2 transactions were quit claim transfers with doc fees. · The highest sale for the month was a $10 million in Aspen (Zone 1). Metes & bounds, single family on Pitkin Way · There were no bank sales posted for the month of October · Through October, there have been 45 bank sales in Pitkin, totaling $30.3 million. This accounts for 8% of the transactions and 3% of the dollars · The average single family sold price through October totals $4,093,257 - this is a decrease of 5% from full year 2010 · The median single family sold price through October totals $2,650,000 - this is a decrease of 17% from full year 2010 · Fractional dollars for the month totaled $6,676,565, an increase of 124% from October 2010 · Fractional transactions for the month totlaed 13, even with October 2010 o Ritz Carlton - 3, Hyatt Grand Aspen - 2, Sanctuary - 2, Dancing Bear, Prospector, Residences at Little Nell, Roaring Fork Club (PUD) , Shadow Mountain Lodge, and Residences at Snowmass Club - 1 each · Through October, fractional dollars total $82,563,364, an increase of 10% from same time period, 2010 · Through October, fractional transactions total 188, an increase of 28% from same time period 2010 · Transaction breakdown for the month included: Residential Improved - 28, Fractional - 13, and Employee Units - 13, and Vacant Land - 4
ZIP Codes: 81611, /81615 Approximate Location Boundaries: Aspen/Snowmass
Location Characteristics: The heart of the Rocky Mountains. Aspen and Snowmass draws skiers, musicians, artists, athletes and people with a sense of adventure and admiration for the incredible mountain environment. Although the days of silver mining are long gone, the cultural mix of activities including the Aspen Institute, Aspen Music School and Aspen Art Museum are still very much alive. Most of all, Aspen is and always will be the ultimate playground to it's world class ski resorts known all over the universe. Come see for yourself!
