1Q2009 (Jan 1 – Mar 31, 2009) Versus 1Q2008 (Jan 1 – Mar 31, 2008)
Executive Summary
(See accompanying chart)

Single Family Homes Sales in Aspen & Woody Creek:
– (9) sf homes sold 1Q09 in Aspen & WC versus (19) in 1Q08, -53% in units closed, -55% in dollar volume.
– The average single family home price decreased -9% and the median price fell -17%.
– The median sold price as % of ask price decreased to 76% of ask in 1Q09 versus 95% in 1Q08.

Aspen Townhomes & Duplexes
– There (6) closings in 1Q09 versus (7) in 1Q08.
– The median sold price as % of ask was 84% in 1Q09 versus 93% in 1Q08.
– The average price of an Aspen Townhome/Duplex fell -24% in 1Q09 from 1Q08.
– The median price fell -31% from 1Q08.

Snowmass Single Family Homes
– (There were no (0) home sales in Snowmass in 1Q09 versus (2) sales in 1Q08.As of early April, there are (2) Snowmass sf homes under contract. To view these properties, click link.

Aspen Condos
– (8) Aspen condos sold in 1Q09 versus (13) in 1Q08, a -38% change in units sold.
– Almost all of these (8) closings were for Monarch on the Park units, a new development in the center of Aspen. These units went under contract in 2006 and 2007, Excluding these sales, there were practically no Aspen condo sales in 1Q09. (To be clarified later today)
– The median condo price is off -9%.
– The median sold price as a % of ask price was 88% in 1Q09 versus 96% in 1Q08.

Snowmass Condos

– There were (13) sales in 1Q08 versus (7) in 1Q09, -54% in total iunits sold and -54% in total condo dollar volume.
– The median sold price as % of ask price was 83% of ask in 1Q09 versus 97% in 1Q08.

(Source Data: Aspen/Glenwood MLS)

The Estin Report is copyrighted 2009 and all rights reserved. Use is permitted subject to the following attribution:
   “The Estin Report: State of the Aspen Market, By Tim Estin, mba, gri,   www.EstinAspen.com  “