Real estate sales are up by 22.5 percent so far in 2014 | AspenTimes.com

Real estate sales are up by 22.5 percent so far in 2014

Staff report

The Pitkin County real estate market is bouncing along at a much stronger clip than last year even though sales slipped during the summer months compared with 2013.

A report released this week by Land Title Guarantee Co. showed that the total dollar volume of all sales was $917.07 million through August, compared with $750.10 million over the same period last year. That is a difference of $166.97 million, or 22.5 percent.

The number of transactions climbed 14 percent, from 790 last year through August to 899 this year, Land Title Guarantee Co.'s report said. That includes everything from sales of McMansions to employee-housing units to fractional-ownerships units.

Last year ended with total sales of $1.31 billion in Pitkin County real estate. This year started with a bang when sales surged every month over last year from February through May. However, dollar volume of sales was down for June, July and August compared with last year.

The sales report for August, the latest month available from Land Title Guarantee Co., showed dollar volume was down 9.5 percent from last year. Total volume this year was $125.28 million compared with $138.45 million for August 2013.

The average price of single-family homes in Aspen has soared 23 percent so far in 2014 compared with the average price for all of 2013, the report showed. The average increased from $5.03 million last year to $6.20 million so far this year.

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The median single-family-home price in Aspen also climbed 23 percent. It was $3.55 million last year compared with $4.36 million so far this year, Land Title Guarantee Co. reported.

The midvalley real estate market also is surging ahead of last year. Dollar volume is up 14.65 percent through August, according to Land Title Guarantee Co.'s report.

Dollar volume increased from $162.71 million through August 2013 to $186.54 million this August, the report showed. The number of transactions is down slightly, from 322 last year to 310 this year. That's a decrease of 3.73 percent.

Land Title Guarantee Co. looked at sales in Basalt, El Jebel and Carbondale for the midvalley report.

pitkin county real estate sales

Dollar volume

January through August

2013: $750.10 million

2014; $917.07 million

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