It was a very slow week with only one closing. However, this broker has had multiple buyer parties in town this week discussing timing – “is this the bottom?” – and the possibility of making what normally would be viewed as “low ball” offers. As these are not normal times, sellers are beginning to learn that any offer in writing is a positive sign, and at the very least, should be construed as the start of a negotiation.

Closings (1) : 109487

  • MLS # 109487 – 1039 E. Cooper #30-A, Chateau Roaring Fork – Aspen core riverfront condo. Ask Price: $1.995M; Sold Price: $1.76M/$1,586 sq. ft. (-12% off ask price).This is one of the absolute best units in the complex: corner top floor with vaulted ceilings looking out and upstream at the river. 3 bdrms/2 baths, 1,110 sq ft. Built 1969/remodeled 2001. Days on market 107.

2009 April – Pitkin County Market Summary provided by Land Title Guarantee:
Land Title Guaranty Summary for April 2009: figures represent ALL Pitkin County property transfers. For specific Aspen and Snowmass Village residential and condo closings , see The Estin Report for annual, quarterly, and weekly (see my blog) breakdowns.

Summary (See attached charts for 2009 April Land Title Pitkin County Market data)

* Total dollars for the month came it at $74,009,706,down 45% from April 2008
* Transactions totaled 46, down 47.7% from April 2008
* For the year, dollars are $343,209,442 which is a decrease of 30% from last year results
* Year to date transactions are 239, which is a decrease of only 19% from last year
* 21 transactions (46% of the total) took place in Aspen,17 (37% of the total) were interval units, there were 4 transactions in Snowmass, representing 8.7%, 2 in Basalt (Pitkin County), and 1 in Old Snowmass
* The average Single Family home price year to date is $5,380,747, up 5% over full year 2008
* The median Single Family home price year to date is $5,000,000, up 22% over full year 2008
* Of the 17 fractional sales, 7 (41%) were at Ritz Carlton Highlands, 3 (17%) were Hyatt Grand Aspen, 2 (12%) were Dancing Bear, 2 (12%) were at Timbers, Residences at Little Nell, Sanctuary, and Shadow Mountain Lodge each reported 1 (6% each)
* April fractional dollars were $5,379,400, up 35% over April 2008
* April transactions of 17 were down 29% from last April
* Year to date fractional dollars are $125,456,388, up 677% from 2008, same time period
* Year to date fractional transactions are 131, up 52% from last year, same time period
* There was also a notable sale in April at Buttermilk Meadows for $12,000,000
* Please note that Land Title only uses actual sales information as reported by the Pitkin County Assessor’s office.

***Land Title additional note: there has been an on-going typo in the reports on page 8 (final page) Month to Month Comparison by Dollar Volume. The transaction numbers DO include fractional/timeshare interests. The notation previously said “Please note: The above figures do not include fractional/timeshare interests and are an unofficial tabulation of Pitkin County records that are believed to be reasonably accurate.” That was incorrect and Iour apology for any confusion that may have caused.