Why are Condominiiums in local resort markets seeing their lowest prices in years? Because a fl ood of successful new fractional ownership condos began hitting the markets hard about threeyears ago, then the economy tanked and real estate retraction further hammered sales….Real estate sales in Pitkin County, never exactly puny even in the recession’s depths (2009 = $1.07 billion), seem to be rebounding, with condo sales up more than 32 percent in the first quarter of 2010. says Aspen broker Tim Estin of Mason and Morse, “there’s a general sense of bottoming out and trends beginning to reverse themselves,” noting that square-foot prices for aspen condos are down to $939 from $1,406 a year ago.
Aspen Sojourner Magazine, June 1, 2010 (Summer Issue)
