Roaring Fork Real Estate Still Going Strong
Last April we reported the local real estate market much brighter than the national market. Stating the following: “A survey by The National Association of Realtors shows strength for vacation home market. As mentioned in last months article Baby Boomers are middle aged and are propelling the second home market. The survey showed “Boomers believe in diversifying their assets, and most second-home owners see their purchase asbeing a better investment than stocks. A surprising majority of survey respondents hold multiple properties, and they are interested in purchasing additional homes.” “About 60% of respondents own two or more homes in addition to their primary residence.”“
Some other interesting results from the survey are: half of vacation homes are located in resort or recreational areas, and since 2003,two-thirds purchased through a real estate agent. Eighteen percent purchased directly from owners, and fourteen percent bought directly from builders.”
Today the market is much the same only we are way ahead of where we were last year setting ourselves even further apart from the national trend.
Pitkin County begins the 2nd quarter 2007 just shy of where we were lastyear. Dollar volume sees a slight decline, 4% behind April of last year,reporting $199.6 million. However, the number of transactions increased slightly 3.5% with 148 compared to last April which reported 143.Interval transactions of 28 represented a 49 % decrease over last year.
Garfield County real estate is continuing to defy the trends of the rest of the country, reporting a dollar volume increase over last April of 47%. Total dollar volume was at $98.4million compared to $66.9 million in 2006.Garfield County also showed an increase in number of transactions with a total of 244 over last years 211 a 15.6% increase.
Comparing year-to-date numbers to the previous year we are showing a 35.4% increase in volume, $337 million to $249 million as of April2006. As well we are at an 18.7% year-to-date increase in transactions with 856 compared to 721 as of this same time last year.
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