Real estate sales off the charts
PITKIN COUNTY The number of real estate sales transactions in Pitkin County plummeted in the first quarter of 2007 compared to last year, but the sales volume crushed last year’s record-setting pace, a recent report showed.Land Title Guarantee Co.’s monthly analysis of the real estate market showed sales hit $759.88 million from January through March. That is $293.84 million, or 63 percent, above last year’s first quarter.Sales dollar volume was up 120 percent in January; 59 percent in February; and 36.5 percent in March, the report said. The title insurance firm researches data recorded with the Pitkin County Clerk’s office for its report.The new record-setting pace came despite a steep decline in sales transactions. They fell from 503 last year during the first quarter to 311 this year, a decrease of 38 percent.It comes as no surprise, then, that prices are soaring.”According to the local [Multiple Listing Service], the upper Roaring Fork Valley – Aspen to Basalt – has a total of 662 residential units listed as available, 309 of which are listed under $1 million and only 10 of these are single-family units,” wrote Martha Brooks, director of marketing for Land Title Guarantee Co.The story was similar downvalley: “From Carbondale to Rifle there are only a total of 286 residential units listed available. Only half of which are under one-half million dollars,” Brooks wrote.The dollar volume and the number of transactions both increased in Garfield County over the first quarter, the firm’s report showed.Sales hit $239.33 million during the first quarter this year, an increase of 31 percent. Transactions are up 20 percent, to 612 for the first three months of this year.Scott Condon’s e-mail address is firstname.lastname@example.org
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