What’s the Big Deal: Vacant Red Mountain lot fetches $18 million
November 19, 2016
Price: $18.5 million
Date recorded: Nov. 14
Address: Lot 4, Rubey Subdivision, Red Mountain Road
Buyer: Leila Ranch LLC
Seller: Robert Bonner Rubey, Karen Rubey Devlin and Bonner Rubey McMurtry (one-third interest each)
Land: 6.3 acres
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Property type: Vacant
Property tax bill: $45,149.24
Trump bump?: Real estate sales in Pitkin County won't touch last year's $2 billion in total transactions, but November has shown signs of the high-end market picking up steam. In addition to the $18.5 million sale Nov. 14, a home at 720 Willoughby Way — a 8,737-square-foot residence on nearly an acre of land — sold for $24 million Nov. 10. Those two sales account for the two priciest property deals of 2016 in Pitkin County. The Sardy House, which sold for $23.1 million in April, is sandwiched between the two.
Since Nov. 9, the day after Republican Donald Trump was elected president, five other property sales were recorded ranging from $5.45 million to $8.02 million.
So far this year, 15 property deals have eclipsed the $10 million mark in Pitkin County.
September swoon: Property sales in Pitkin County in September totaled nearly $158 million, down 44.4 percent from September 2015, according to a report issued Nov. 11 by Land Title Guarantee Co. And for the first nine months of this year, transactions total $910.7 million, down 40 percent from January through September of 2015.
, the report said.