Tim Estin MBA, GRI

Aspen CO Real Estate Broker
Call Tim:(970) 309-6163
September Sales Jump Due to Snowmass Base Village Closing, ABJ Image

September Sales Jump Due to Snowmass Base Village Closing, ABJ

Breaking down the statistics illuminates further trends. ASPEN REAL ESTATE — In the upper valley market, from Aspen to Old Snowmass and including Snowmass Village, the number of sales—235—is even with last year through September, according to Tim Estin, a broker with Coldwell Banker Mason Morse who does his own monthly and quarterly reports. Overall dollar volume is down 12 percent, mainly due to 30 percent fewer big-ticket sales this year, which Estin claims accounts for almost the entire dollar volume difference between this year and last. Still, overall third-quarter sales were strong, up 25 percent in dollars ($240.4 million) and 13 percent in unit sales (81) compared to the period of July 1 to Sept. 30 last year, according to Estin. The past few years have started out strong and sputtered to a close, but this year had the strongest third quarter of the past four years, Estin reported. A particularly strong segment is Aspen single-family home sales. Aspen (which for Estin includes Woody Creek and Old Snowmass) accounted for 83 percent of the overall dollar volume in the third quarter, and Aspen single-family home sales accounted for 56 percent of that dollar volume. Aspen homes sales were up 46 percent in dollar volume and 22 percent in number of sales in the third quarter. And the surge appears to have continued in October—Estin recently reported 15 sales of single-family homes in Aspen compared to six in October 2011. Commensurate with this was a 3 percent increase in the median home price ($3.8 million) and a 13 percent increase in the price per square foot ($1,013) in the third quarter. “Both metrics … can be seen as positive signs of home price stabilization,” Estin wrote. By Catherine Lutz, Nov. 7, 12 ABJ Snowmass Base Village Read More

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