The First Half of 2012 Shows Up-Valley Stats Down While Down-Valley Stats are Up

During the first half of 2012, the up-valley markets of Aspen and Snowmass Village have shown lower dollar sales volumes than in 2011 for the same period while in both Basalt and Carbondale, the dollar sales and transaction volumes have shown substantial increases. According to the spreadsheet below based on Aspen/Glenwood Springs MLS data for closed transactions, we are seeing the real estate recovery begin in the down-valley markets first. We feel this is due to the high level of distressed property sales going on down-valley. Even though there are some distressed property sales going on in the Aspen/Snowmass Village markets, there are not anywhere near as many happening as in the down-valley markets. When you consider that more than half of the Aspen single family home sales are for cash, this makes sense. Additionally, when one considers over half of the transactions occurring down-valley are for homes in foreclosure, short sale, or bank owned, it becomes readily evident that volumes are going to go up significantly with people taking advantage of the terrific deals with historically low mortgage rates. 

Whether up-valley or down-valley, we continue to be in a strong buyer’s market where extraordinary deals abound. If you would like to take advantage of both low prices and low mortgage rates, please do not hesitate to give me a call or drop me an email. (970) 309 3620 or jgausnell@roaringforkrealty.com.

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 First Number of Average 2012 Q2 Number of Average % $ Change
  Half $ Total Trans Trans Size Half $Total Trans Trans Size 2011 vs
  RE Trans     RE Trans     2012
               
Aspen 492,658,355 117 4,210,755 333,723,738 116 2,876,929 -32.26%
Snowmass Village 121,616,326 51 2,384,634 76,761,967 55 1,395,672 -36.88%
Basalt/El Jebel 31,849,570 66 482,569 37,688,800 90 418,764 18.33%
Carbondale 28,377,176 47 603,770 40,937,679 98 417,731 44.26%