Articles

Summer '09 vs Summer '08 Aspen & Snowmass: Solds Analysis: Sept 4, 09

I've just run an analysis comparing this summer's sales activity with last summer, June 1 - August 31, 2009 versus June 1 - August 31, 2008  for all types of property types in Aspen, Snowmass Village and Woody Creek.

The Estin Report: Summer 2009 vs Summer 2008
Aspen, Snowmass Village and Woody Creek
SOLD MARKET ANALYSIS CHART
:(ALL PROPERTY TYPES)

Summary (click on Chart link above for proper spacing of summary)
> Snowmass Village totally tanked this summer 2009 over summer 2008.  A disaster.
> Aspen, however, held its own this summer compared to last, with the total number of closings down only marginally. This does not reflect the erosion of prices and values, however, but it does strongly indicate that there are buyers and that actual closings are occurring at a level only slightly off 2008 Summer, although a great discounts.

Summer 2009 vs Summer 2008
Condos
                     Number Sold                            Sold Volume                             % of List            
                     2008    2009        %               2008                 2009            %         2008   2009
Aspen             9         12       +33%         $11,307,500      $12,072,500     +6%     92%    93%
Snowmass    37           6        -83%         $43,691,090        $6,300,000    -86%     98%    76%

Single Family Homes
                     Number Sold                           Sold Volume                             % of List            
                     2008    2009       %             2008              2009*              %          2008    2009
Aspen             17         16       -5%     $137,290,339    $144,073,711     +4%       93%     92%
Snowmass       9           5     -44%       $62,826,000     $22,150,000     -64%       91%     84%

*Summer 2009 includes (4) big sales with following prices: $43MM, $13.5MM,11.25MM, $15.6MM