Aspen real estate sales increase in July
September 2, 2009
ASPEN – After 21 straight months of declines, July finally brought an increase in dollar volume for real estate sales in Pitkin County, according to a report released Tuesday.
Sales totaled $126.62 million for the month, an increase of 1.73 percent over July 2008, according to Land Title Guarantee Co. That was the first increase compared to the same month the prior year since September 2007.
It is uncertain if July was a fluke or start of a trend; the performance for the month was buoyed by a $43 million sale of a house on Red Mountain.
For the year-to-date through July, sales volume is down 29 percent this year compared to 2008, Land Title Guarantee Co.’s report showed. Sales totaled $598.1 million this year compared to $841.29 million at the same point last year.
The number of real estate transactions fell 35 percent in July to 43 this year from 66 last year. Year-to-date transactions are off 28 percent.
The median sale price for single family homes in Pitkin County was $3.8 million in July, down 6 percent from last year, the report showed.