Even though many of the newspaper articles indicate 2012 has seen a resurgence of the Roaring Fork Valley real estate market, the statistics indicate otherwise. As evidenced by the spreadsheet below, except for Basalt/El Jebel the valley continues to be feeling the ill effects of the recession. Because of these facts, the market continues to be a strong buyer’s market.

The Aspen market has shown the biggest decrease from 2011 to 2012 for the first quarter statistics showing a reduction in total real estate transactions of 39.52%. When one examines the data in detail, the first thing that becomes evident is the fact the average transaction size went down by 31%. This was due mostly to the fact that in the first three months of 2011 there were five transactions of greater than $10 million whereas this year there was only one.

The Snowmass Village market has also gone down significantly, but the average transaction size has stayed virtually the same from year to year. Snowmass has seen a reduction in transaction volume of 32% from the first quarter of 2011 to the same period for 2012.

The Basalt/El Jebel market has been the exception to the other Roaring Fork Valley towns. Because of the significant increase of transactions, this market has gone up by 25% even though the average price of a real estate transaction in this area has gone down 34%.

The Carbondale first quarter total real estate sales have gone down about 9% even though the number of transactions has almost doubled. This is due to the fact that the average transaction price went down by 56%.

One thing that has been consistent for the first quarter in all of the towns of the valley is that the average price of a real estate transaction has gone down. This is because most of the transactions are distressed sales made up of the sale to highly motivated sellers, short sales sellers, properties in foreclosure and banked owned properties.

As I mentioned at the beginning of this market analysis, we continue to be in a strong buyer’s market. This is a buyer’s perfect storm. Both prices and interest rates are at all time lows. If you would like to capitalize on the on this rare opportunity, please give me a call or drop me an email. I make it my business to keep track of the best deals in the market.

Town

2011

Number of

Average

2012

Number of

Average

% Change

 

Total

Trans

Trans Size

Total

Trans

Trans Size

Total

 

RE Trans

 

 

RE Trans

 

 

RE Trans

 

 

 

 

 

 

 

 

Aspen

202,542,000

43

4,133,000

122,496,000

49

2,848,000

-39.52%

SnowmassVillage

44,944,000

15

2,042,000

29,313,000

22

1,954,000

-34.78%

Basalt/El Jebel

11,201,000

19

589,000

14,070,000

36

390,000

25.61%

Carbondale

13,397,000

33

837,000

12,146,000

16

368,000

-9.34%