Sales of Colorado Mountain Resort Homes in July Lowest in Years, DP

Aspen — particularly the tony downtown and west end — saw its average single-family home price climb in July, from $5.99 million in July 2010 to $6.60 million. "Well-located, newer construction and unique, over-the-top beautiful properties continue to sell at premium prices," Aspen-area broker Tim Estin said.

DENVER - Real estate sales in Colorado's mountain-resort communities were gaining steam through most of this year, continuing a steady rebound from the market decimation of 2008 and 2009.Then came July...July sales in Pitkin, Eagle, Summit, Routt and San Miguel counties were the lowest in years, potentially derailing a resort real estate market tracking toward recovery. While the mountain counties still are ahead in year-to-date sales, the dismal July — the lowest month for sales in any month in the past six years in Pitkin County — could burst the optimistic bubble that drives Colorado's mountain real estate industry.Brokers offer a potpourri of issues that plagued the market: the European financial crisis, domestic squabbling over debt and unease over the country's crawl out of the recession.
By Jason Blevins, Sept. 9, 11 The Denver Post
Link to article

July 2011 Pitkin County Market Statistics (released Sept 2, 11 by Land Title)

Photo courtesy of DP