Total Roaring Fork Valley dollar real estate sales for the first quarter of 2013 had mixed results by town (See spreadsheet below). Aspen sales dropped off in the first quarter by 23% compared to the first quarter of 2012. Many believe that the drop was a result of the fact that the fourth quarter of 2012 was higher than normal due to sellers putting together deals in order to avoid the increased capital gains tax rate going into effect at the beginning of this year. Deals that would normally have occurred in the first quarter were accelerated to the fourth quarter leaving the first quarter of this year lower than normal.

Snowmass Village sales were characterized by the dollar volume going up by a mere 4.5% while the transaction volume went up by one-third at the same time the average transaction price went down 30%. An increase of one-third in transaction volume with the average transaction price going down by 30% indicates the fence sitters have woken up to the fact there are some really good deals out there and they have finally decided to take advantage of them. Additionally, this signals that the market has sensed we are at the bottom of the price curve in Snowmass Village and the time to buy is now.

Every quarter of 2012 showed a double digit dollar volume increase over the same period of 2011 for Basalt/El Jebel. Consequently, the inventory was dramatically reduced. The much reduced inventory caused the transaction volume to go down by 47% which caused the dollar sales to fall by about 41% for the first quarter of this year. At the same time the dollar volume went down drastically, the average price for a transaction went up 12%. This indicates the prices of Basalt/El Jebel have hit bottom and are now heading back up.

Carbondale reported a huge increase of 108% in dollar volume in the fourth quarter of 2012 over the same period of 2011. It would be a good guess that the huge increase in the fourth quarter of 2012 was assisted by the sellers' motivation to beat the capital gains increase going into effect at the first of this year. In the first quarter of 2013, though not as dramatic, the beat goes on with a 27% increase in dollar sales and a slight increase in the average price per transaction. Again, we can conclude this market's prices have bottomed out and are now heading up.

With the prices bottoming out and heading up, now is definitely the time to get off the fence and make an investment in Roaring Fork Valley real estate.  Please do not hesitate to give Jack Gausnell a call at 970 309 3620 or drop him an email at mailto:jgausnell@roaringforkrealty.com if you would like to join the ranks of astute buyers.

Town 2012 Q1 Number of Average 2013 Q1 Number of Average % $ Change
  $ Total Trans Trans Size $ Total Trans Trans Size 2012 vs
  RE Trans     RE Trans     2013
               
Aspen 122,496,000 49 2,499,918 93,717,181 42 2,231,361 -23.49%
Snowmass Village 29,313,000 22 1,332,409 30,628,860 33 928,147 4.49%
Basalt/El Jebel 14,070,000 36 390,833 8,328,585 19 438,347 -40.81%
Carbondale 12,146,000 33 368,061 15,428,120 40 385,703 27.02%
               
               
Town 2011 Q1 Number of Average 2012 Q1 Number of Average % $ Change
  $ Total Trans Trans Size $ Total Trans Trans Size 2011 vs
  RE Trans     RE Trans     2012
               
Aspen 202,542,000 43 4,133,000 122,496,000 49 2,499,918 -39.52%
Snowmass Village 44,944,000 15 2,042,000 29,313,000 22 1,332,409 -34.78%
Basalt/El Jebel 11,201,000 19 589,000 14,070,000 36 390,833 25.61%
Carbondale 13,397,000 16 837,313 12,146,000 33 368,061 -9.34%
               
Town 2011 Q2 Number of Average 2012 Q2 Number of Average % $ Change
  $ Total Trans Trans Size $ Total Trans Trans Size 2011 vs
  RE Trans     RE Trans     2012
               
Aspen 290,116,355 74 3,920,491 211,227,738 67 3,152,653 -27.19%
Snowmass Village 76,672,326 36 2,129,787 47,448,967 33 1,437,847 -38.11%
Basalt/El Jebel 20,648,570 47 439,331 23,618,800 54 437,385 14.38%
Carbondale 14,980,176 31 483,231 28,791,679 65 442,949 92.20%
               
Town 2011 Q3 Number of Average 2012 Q3 Number of Average % $ Change
  $ Total Trans Trans Size $ Total Trans Trans Size 2011 vs
  RE Trans     RE Trans     2012
               
Aspen 142,575,548 45 3,168,346 204,996,270 68 3,014,651 43.78%
Snowmass Village 25,091,500 16 1,568,219 20,884,000 11 1,898,545 -16.77%
Basalt/El Jebel 18,578,704 32 580,585 23,618,800 45 524,862 27.13%
Carbondale 23,060,780 26 886,953 18,374,500 42 437,488 -20.32%
               
Town 2011 Q4 Number of Average 2012 Q4 Number of Average % $ Change
  $ Total Trans Trans Size $ Total Trans Trans Size 2011 vs
  RE Trans     RE Trans     2012
               
Aspen 173,174,333 47 3,684,560 247,535,000 59 4,195,508 42.94%
Snowmass Village 26,097,500 34 767,574 32.151.050 31 1,037,130 23.20%
Basalt/El Jebel 22,684,735 34 667,198 25,826,780 47 549,506 13.85%
Carbondale 8,802,888 10 880,289 18,374,500 42 437,488 108.73%
               
               
Town 2011 Number of Average 2012 Number of Average % $ Change
  $ Total Trans Trans Size $ Total Trans Trans Size 2011 vs
  RE Trans     RE Trans     2012
               
Aspen 735,268,037 191 3,849,571 745,453,840 223 3,342,842 1.39%
Snowmass Village 157,288,826 82 1,918,156 115,385,017 83 1,390,181 -26.64%
Basalt/El Jebel 68,646,409 125 549,171 83,964,152 167 502,779 22.31%
Carbondale 56,275,844 91 618,416 89,676,664 177 506,648 59.35%