Report is Out–Aspen Real Estate Slows in 2008
In the article titled “Real Estate Activity Remains In Slump” pubished in the Aspen Daily News(http://www.aspendailynews.com) on October 24, 2008, Troy Hooper confirms that real estate activity in Pitkin County is down compared to 2007.
The real estate industry has taken a significant hit in 2008, with year-to-date dollar volume just above $1.1 billion, down 46 percent from the same time period in 2007. There have been 646 transactions year-to-date, down 36 percent from 1,003 transactions for 2007.
Land Title Guarantee Company, which tracks the data using county records, reported that the September 2008 dollar volume decreased 58% and the number of transactions decreased 52% as compared with September 2007.
Pitkin County had 61 transactions in September totaling $100,587,424. The average home price for September was $2.6 million, while the median residential price was $1.782 million. Of the September transactions, 33 percent of them occurred in Aspen and 30 percent of them occurred in Snowmass Village. The rest was in the mid to lower valley. Aspen also captured 49 percent of the dollar volume that month while Snowmass Village captured 38 percent.
Land Title Guarantee Co. includes all sales recorded with the Pitkin County Clerk and Recorder for its reports.
