Quarter-by-quarter comparisons this year indicate that despite the recent spike, there is a slowing trend in sales, according to a [Aspen Snowmass 3rd Quarter 2011] report by Aspen broker Tim Estin of Mason Morse real estate. The report indicates that in the first three months of 2011 there were $209 million in sales (not including fractionals) which is $60 million more than in the last three months…In general, market prices have reset to a post-crisis level, off by an average of 25 to 40 percent, and in some individual cases more, from the 2008 market peak, according to the Estin Report.
ASPEN REAL ESTATE – Monthly real estate sales reports in Pitkin County have been a roller-coaster ride of ups and downs this year, but overall there is an indication that the market slowly improving. June reached a five-year record low for that month with only about $39 million in sales, which is down more than 46 percent from 2010, while February was up 135.9 percent from the same month in 2010 with $116 million in sales. Still, over the past two months there has been a steady increase in activity compared to the same time last year. September saw about $132 million in total dollar sales for all properties, including fractionals, which is up about 32 percent from September 2010. August saw a similar spike in sales with a 21 percent increase. Overall, 2011 is ahead by about 18 percent compared to the first nine months of 2010.
By Dorothy Atkins, October 15, 2011 ADN
Link to article
Click report image for summary and complete report.
Click report image for summary and complete report.
