Published on Aspen Daily News Online (http://www.aspendailynews.com)
Real estate activity remains in slump

Writer:
Troy Hooper

Real estate activity in Pitkin County continued to slide last month, with 58 percent less dollar volume compared to the year before and transactions down 52 percent.

There were 61 transactions in September totaling $100,587,424, according to Land Title Guarantee Company, which tracks the data using county records.

The real estate industry has taken a significant hit this year, with year-to-date dollar volume just above $1.1 billion, or down 46 percent from the same time period in 2007. Transactions to date are at 646, which is down 36 percent from 2007.

The average home price for September was $2.6 million, Land Title Guarantee reported, while the median residential price was $1.782 million.

Of the September transactions, 33 percent of them occurred in Aspen and 30 percent of them occurred in Snowmass Village. The rest was in the mid to lower valley. Aspen also captured 49 percent of the dollar volume that month while Snowmass Village captured 38 percent.

Year-to-date fractional sales dollars are at $36.1 million, or down 45 percent compared to the same period last year. Year-to-date fractional transactions are down 16 percent from last year, Land Title Guarantee Company reported.


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Source URL: http://www.aspendailynews.com/section/home/130088