Garfield County real estate slump continues
September 28, 2009
GLENWOOD SPRINGS – Real estate sales in Garfield County continued to slide in August 2009, both in terms of prices of homes and the numbers sold, according to a report prepared by the Land Title Guarantee Co.
Garfield County sales in August came to $21.5 million, down 7 percent from $24.7 million in July and less than half the $56.4 million in August 2008, according to a market analysis by Land Title.
Year-to-date sales stand at a value of $152.5 million, down 73 percent from the same period in 2008, while the number of transactions so far this year total 399, down 67 percent from the same period last year.
August’s 57 total transactions also were down, dropping 11 percent from July’s total of 64 and off by nearly 60 percent from the 140 sales recorded in August 2008.
Carbondale continues to be the leader among the towns in the county, in terms of both numbers of transactions and dollar-volume of sales.
In transactions, Carbondale led in August with 18, followed by Glenwood Springs with 11, Silt with 9, Rifle with 8, Battlement Mesa and New Castle tied at 5, and Parachute with 1.
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In dollar volumes, the ranking was Carbondale with $8.9 million, Glenwood with $4.4 million, Silt with $2.5 million, Rifle at $1.9 million, New Castle at $1.4 million, Parachute with $1.3 million and Battlement Mesa at $1.2 million.
Carbondale and Silt, according to Land Title, were the only parts of the county to post increases over July in both dollar volumes and transaction numbers.
The title agency reports that the average price for a single-family home is down 4 percent from a year ago, to $$430,019, while through July, the median sold price for a single-family home was down 3 percent from the same time a year ago, to $362,000.