Aspen dirt is hot; Vail’s is even hotter
November 10, 2006
As good as the real estate market is in Aspen and Pitkin County – and it’s very good – it’s even better in Vail and Eagle County.A strong September pushed the total dollar volume of real estate sales to $1.98 billion this year in Eagle County, according to an analysis by Land Title Guarantee Co.The year-to-date dollar volume in Pitkin County over the same period was $1.87 billion. That is $110,000,000 or about 5.5 percent less.Both resort markets cracked the $2 billion barrier last year. Pitkin County topped out at $2.24 billion, while Eagle County soared to $2.8 billion – records for both counties.Both counties are on track to break the $2 billion mark again this season. Eagle County first topped that mark in 2004; Pitkin County topped it last year. Now it is evolving into the expectation.Garfield County’s real estate market has shown phenomenal growth in recent years but still lags behind its neighbors; according to reports by Land title Guarantee Co. Garfield County’s year-to-date sales volume is $726 million.The strength of the real estate markets in all three counties this year is mind-boggling. Sales in Garfield County are up 21.5 percent through September compared to the prior year.Sales in Pitkin County are up 12.5 percent year-to-date. Eagle County’s sales volume is up 1 percent over last year’s record pace.Although sales in the middle Roaring Fork Valley are influenced by the Aspen market, they are tallied with Eagle County. The El Jebel area and parts of Basalt and Missouri Heights are in Eagle County.Land Title Guarantee Co.’s monthly real estates sales report said this year will be known for high-dollar transactions in Eagle County. There were five transactions of $5 million and greater during September. For the year, there have been 27 transactions greater than $5 million – more than all of last year.Vail and Beaver Creek, the high-end hubs of the Eagle County real estate market, aren’t the areas that have led sales this year, according to Land Title Guarantee’s Co.’s research. “Downvalley is the main contributor to the high dollar volume year-to-date,” the firm’s report said. Eagle led in dollar volume; Gypsum accounted for the most transactions.Pitkin County real estate transactions available at http://www.aspentimes.com/realestate.Scott Condon’s e-mail address is firstname.lastname@example.org.The Aspen Times, Aspen, Colo.