Given the level of uncertainty, Tim Estin, [an Aspen broker with Coldwell Banker Mason Morse], said he is pleased by the number of transactions this year, even though the dollar volume is down. Estin writes a quarterly market analysis called The Estin Report and he takes a snapshot look each month. For his report, he examines sales data for Aspen, Snowmass Village, Old Snowmass and Woody Creek. He doesn’t look at fractional-ownership sales because mass closings at any given time can skew data, he said. In the geographic area where he is looking, the number of transactions during the first half of 2012 was “so close” to the same period of 2011. That is significant, he said, because that shows buyers are out there.
ASPEN REAL ESTATE — A June swoon contributed to a poor first half of the year for the Pitkin County real estate market in terms of total-sales dollar volume. Despite the sale of a ranch and adjoining property in early June for $49 million by Prince Bandar bin Sultan, the dollar volume of all sales for that month were down 11 percent compared with June 2011, according to deeds filed with the Pitkin County clerk and recorder. For the first half of 2012, the dollar volume of all sales was $600.23 million. That is down 15.5 percent from $709.57 million last year. Despite the dismal numbers, real estate agents aren’t ready to throw in the towel yet on this year.
By Scott Condon, July, 3 2012 AT