Pitkin County real estate sales plummet | AspenTimes.com

Pitkin County real estate sales plummet

Aspen Times Staff Report
Aspen, CO Colorado

PITKIN COUNTY ” Same story, different month in the Aspen-area real estate market.

The dollar volume of sales was down 40 percent in November compared to last year. Sales hit $64.79 million compared to $107.7 million for November 2007, according to a monthly analysis provided by Land Title Guarantee Co.

Sales have tumbled every month this year. For the year-to-date through November, sales are down 46 percent, the report shows.

Total sales so far this year are $1.25 billion. They were $2.33 billion through November last year.

This year will be the first year since 2004 where total annual real estate sales in Pitkin County don’t top $2 billion. A record was set in 2006 with sales of nearly $2.4 billion.

This year has seen a total of 761 real estate transactions so far, compared to 1,237 last year. That is a drop of 38 percent.

Other market trends noted by Land Title Guarantee Co.’s report about the county includes:

The average single-family home price continues to climb despite the slow overall activity in the market. The average price is up 12 percent from last year at $5.2 million.

The median single-family home price soared 27 percent year-to-date to $4.51 million.

Transactions for fractional ownership units are down 26 percent year-to-date, with the dollar volume down 45 percent from last year to $44.42 million.

Support Local Journalism

Support Local Journalism

Readers around Aspen and Snowmass Village make the Aspen Times’ work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.


Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User