Pitkin County ended 2008 with almost half the real estate sales volume it had in 2007, and 10 percent to 15 percent higher home prices, according to a report released Monday by Land Title Guarantee Company… Despite the sharp drop in sales, the average single-family home price in Pitkin County was $5.1 million, up 10 percent from 2007. The 2008 median single-family home price of $4.1 million was up 15 percent from 2007. Median single-family home values actually went up 7 percent last year in Aspen, 4 percent in Snowmass Village, 16 percent in Basalt, 9 percent in Carbondale and 4 percent in Redstone. Median values actually went down in Woody Creek and Old Snowmass, by 18 percent and 55 percent, respectively. Condo prices were up across the board, with Aspen actually seeing a 45 percent average hike.
By Catherine Lutz, Jan. 27, 2009 Aspen Daily News, Aspen, Co

Link to Full Article