Report: First-quarter real estate transactions up, but prices decline compared to 2012

By Real Aspen
Real AspenJune 5, 2013
The number of real estate transactions in Pitkin County was up 13 percent in the first quarter of 2013 compared to the same three-month timeframe in 2012, but the average single-family home sold for 35 percent less, according to an analysis by Land Title Guarantee Company.

There were 168 transactions in Pitkin County in the first quarter of 2013, up 13 percent over the first quarter of 2012.

The average single-family home sold for $2,746,347, down 35 percent from 2012. The median single-family home price was $2.2 million, down 21 percent from 2012.

City of Aspen

Pitkin County is home to the resort towns of Aspen and Snowmass, as well as down-valley towns such as Carbondale. The nearby towns of Basalt and El Jebel are in Eagle County, where real estate transactions were up 18 percent over the first quarter of 2012 and dollar volume was down 14 percent.

The sold price of single-family homes dropped six percent for the first quarter of 2013 in Eagle County, but sales of multi-family homes rose 23 percent for the first quarter.

The buyer profile for Pitkin County showed 55 percent of the properties sold were purchased by out-of-state buyers, 34 percent by local buyers, 10 percent international and one percent by Coloradan on the Front Range.

For the entire six-county, first-quarter comparison report, go to Land Title’s website (pdf).

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