The report shows that Aspen’s real estate market remains strong — even though it isn’t matching the big numbers posted in the middle of the decade.
October was a strong month for the industry thanks to three big sales. The total dollar volume was $197.04 million this October, compared to $126.61 million last October. That is an increase of 56 percent.
Inflating the volume this year: the sale of the St. Regis Aspen for $70 million; a $31.5 million sales of a single family home in West Buttermilk; and an $11.9 million sale of a single family home in Hidden Meadows at Snowmass Village.
The actual number of transactions in Pitkin County dropped 28 percent, from 78 last year to 56 in October this year.
For the year-to-date, sales volume is up 12 percent this year over last. Total volume was $1.02 billion this year, compared to $909.87 million at the same point last year. To put that in perspective, sales volume was $2.16 billion at the end of October 2006, which went on to be the record-breaking year for real estate in the Aspen area.
Transactions are down 2.46 percent this year, from 570 to 556.
Land Title Guarantee Co. reported that the average sold price for a single family home is down about 8 percent from 2009’s full-year level. The average this year, so far, is $4.9 million.
The median single family home sold price is $3.5 million, an increase of 11 percent from the full-year median in 2009.