2010 March Pitkin County Market Summary (Land Title)

Released by Land Title April 30, 2010

Please see 2010 March Pitkin County Market Summary for Pitkin County property transfers including fractionals, mobile homes, deed restricted properties, etc. Includes Aspen, Snowmass Village, Woody Creek, Old Snowmass, and parts of Basalt, El Jebel and Carbondale, Colorado.

See The Estin Report: 1st Quarter 2010 for Aspen Snowmass Residential Real Estate Activity. This report includes single family, townhome, duplex and condo sales for the upper Roaring Fork Valley including Aspen, Snowmass Village, Woody Creek and Old Snowmass.  It does not include fractionals.

•    $103,247,244 total dollar volume, up 120% from March 2009
•    84 total transactions, an increase of 105% from March 2009
•    Year to date, through March, dollar volume totals $207,733,603 – a decrease of 23% from the same time period last year
•    Through March, transactions total 179, a decrease of 7.25% from the same time last year
•    Aspen led the county with 31 transactions, interval sales totaled 14, Snowmass Village reported 13, Basalt reported 4, Old Snowmass reported 3, the remaining 19 transactions were quit claim deeds with an associated document fee
•    Aspen’s total dollar volume was $52.37 million, Snowmass Village reported $38.26 million, Old Snowmass $6.587 million, Basalt $3.275 million, Intervals $2.642 million, the remaining $117,912 were quit claim deeds
•    There were two notable residential sales for the month, both in Snowmass – one for $10 million and another for $9.04 million
•    There were no sales in the month of March with a bank listed as the grantor, there have been 2 thus far in 2010
•    The average single family sold price through the month of March is $3,712,121, a decrease of 24% from full year 2009
•    The median single family sold price through the month of March is $4,100,000, an increase of 30% from full year 2009
o    Please see page 4 of the PDF for additional information by specific area of the county
•    Interval dollar volume totaled $2.642 million, a decrease of 81% from March 2009
•    Interval transactions totaled 14, a decrease of 39% from March 2009
•    Hyatt Grand Aspen led with $918,000, followed by Timbers with $705,000, Ritz Carlton reported $470,000, St. Regis $350,000, and Sanctuary $199,000
•    Hyatt led transactions with 6, Ritz Carlton reported 4, Timbers had 2, St. Regis and Sanctuary rounded out the total, each reporting 1
•    Through March, interval dollars total $18,643,975, a decrease of 84% from the same time period last year
•    Though March, interval transactions total 37, a decrease of 68% from the same time period last year
o    Recall that in early 2009 there was a lot of activity with both The Residences at Little Nell and Dancing Bear.  Through March of last year, the Nell had a total of 67 transactions and Dancing Bear had 25