Real estate slide continues in July
August 21, 2008
GARFIELD COUNTY ” The real estate market continued to slide last month in Garfield County compared to the year before.
Sales in July tumbled 57 percent compared to July 2007, according to a monthly market report by Land Title Guarantee Co. Sales fell to $68.89 million from $157.46 million for the month last year.
That was the worst performance for the month since July 2003, the report showed.
The number of transactions dropped 51 percent in July, down to 153. That was the fewest transactions in at least five years.
For the year-to-date, the dollar volume of sales is down 30 percent in Garfield County, Land Title Guarantee Co. reported. Cumulative sales were at $509.14 million through July compared to $723.26 million for the same period last year.
Year-to-date transactions are down 39 percent.
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Last year was a record for real estate sales and transactions in Garfield County, so there are lofty numbers to match. Real estate agents in the valley insist that conditions aren’t as dire as the statistics suggest. Land Title Guarantee Co.’s report proves that point. Sales through July were better in 2008 than any years except 2006 and 2007.