Quarter-by-quarter comparisons this year indicate that despite the recent spike, there is a slowing trend in sales, according to a [Aspen Snowmass 3rd Quarter 2011] report by Aspen broker Tim Estin of Mason Morse real estate. The report indicates that in the first three months of 2011 there were $209 million in sales (not including fractionals) which is $60 million more than in the last three months…In general, market prices have reset to a post-crisis level, off by an average of 25 to 40 percent, and in some individual cases more, from the 2008 market peak, according to the Estin Report.
ASPEN REAL ESTATE – Monthly real estate sales reports in Pitkin County have been a roller-coaster ride of ups and downs this year, but overall there is an indication that the market slowly improving. June reached a five-year record low for that month with only about $39 million in sales, which is down more than 46 percent from 2010, while February was up 135.9 percent from the same month in 2010 with $116 million in sales. Still, over the past two months there has been a steady increase in activity compared to the same time last year. September saw about $132 million in total dollar sales for all properties, including fractionals, which is up about 32 percent from September 2010. August saw a similar spike in sales with a 21 percent increase. Overall, 2011 is ahead by about 18 percent compared to the first nine months of 2010.
By Dorothy Atkins, October 15, 2011 ADN
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