Released April 30, 2012 by Land Title Guarantee

March 2012 Summary

Pitkin County Real Estate Market Analysis

(See accompanying Charts)

• $104,686,039 – total dollars for March, an increase of 18% from March 2011
• 48 – total transactions for March, a decrease of 29% from March 2011
• Through March, dollars total $246,703,083, a decrease of 15% from same time period last year
• Through March, transactions total 149, a decrease of 24% from same time period last year
• Aspen posted 20 transactions ($81.5 million), Snowmass Village 9 ($15.5 million), Interval Units 8 ($4 million), Basalt 6 ($2.7 million), Carbondale 2 ($920,000). The remaining 3 transactions were quit claim transfers with doc. fees totaling $3,000.
• There were 5 bank sales (bank as the grantor) for the month, totaling $7.3 million. This accounted for 10% of the transactions and 7% of the dollars; (Basalt – 2, Aspen -1, Carbondale – 1, and Snowmass Village – 1)
• Through March, there have been 13 bank sales, totaling $10.2 million. This accounts for 9% of the transactions and 4% of the dollars
• The most notable sale for March was for Dancing Bear Residences – totaling $24.2 million
• The average single family home sold price through March is $3,409,981 a decrease of 17% from full year 2011
• The median single family home sold price through March is $2,550,000, an decrease of 9% from full year 2011
• Interval dollar volume for March was down 12% from March 2011, with a total of $4,032,000
• Interval transaction volume for March was down 53% from February 2011, with a total of 8
• Interval transaction breakdown for March: Residences at Little Nell – 2, Residences at Snowmass Club – 2, Ritz Carlton – 1, Hyatt Grand Aspen – 1, and Timbers Club – 1
• Through March, interval dollar volume is down 41% from same period 2011 with a total of $11,319,400
• Through March, there have been 32 interval transactions, a decrease of 55% from same time period 2011