In Coldwell Banker Mason Morse broker Tim Estin’s Aspen Snowmass August 2012 Market Snapshot...dollar volume was down 25 percent and number of transactions was even compared to August 2011 in the Aspen/Snowmass market. Estin’s calculations are based on sales from Aspen to Old Snowmass, including Snowmass Village.Year to date, the total Aspen/Snowmass market is down 14 percent in dollar volume and down 3 percent in number of sales compared to 2011, Estin reported.
ASPEN REAL ESTATE – Property sales in Pitkin County were up 17 percent in dollar volume and down 9 percent in number of transactions for the month of August. And while overall dollar volume is lower than it was in 2011, the gap is narrowing, and the general feeling is that the market is on the rise. Land Title released its August market analysis on Wednesday, which covers all property transfers throughout Pitkin County. The $105 million worth of real estate sales reflects the best August since 2008, just before the local recession hit, when $160 million worth of property changed hands. The 60 total transactions in August, on the other hand, was almost comparable to the 66 transactions in 2008—but nearly half of the 113 in August 2007, which was near the high point of the local real estate boom. Through August, the dollar volume of nearly $778 million reflects a 7 percent decrease from the same period in 2011, and the 441 total transactions is 11.5 percent lower than last year.Real estate brokers tend to analyze market data in more detail than Land Title, thus uncovering more specific trends.
By Catherine Lutz, Oct. 3, 2012 ABJ
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