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Aspen Real Estate Market Reports 2011

Pitkin County Summary for 2011

– 2011 total dollars totaled $1,269,446,586 – up .52% from 2010

– 2011 transactions totaled 756, an increase of 9.7% from 2010

– December dollars totaled $77,740,576 – a decrease of 38% from December 201

– December transactions totaled 56 – a decrease of 16% from December 2010

– The highest sales price for December was $6.25 million for a single family residence in Aspen Zone 1

– For the year – Aspen led with $826 million (65% of the total) and 317 transactions (42% of the total), Snowmass Village posted $238 million (19%) and 114 transactions (15%), Interval Units $89 million (7%) and 209 transactions (28%), Old Snowmass $53.4 million (4%) and 29 transactions (4%), Basalt $32 million (2.5%) and 42 (5.6%), Carbondale $5.6 million (.4%) and 8 (1%), Redstone $1.16 million (.09%) and 5 transactions (.66%).

– December totals – Aspen $55.8 million and 32 transactions, Woody Creek $9.4 million and 3 transactions, Snowmass Village $5.8 million and 6 transactions, Interval Units $3 million and 10 transactions, Old Snowmass $2.5 million and 2 transactions, and Basalt $1.2 million and 3 transactions.

– There were 4 Bank Owned Sales in December totaling $1.4 million. This accounted for 1.8% of the volume and 7% of the transactions:
2 – Fractional, 2 – Snowmass Village For the year, there were 51 Bank Owned Sales totaling $33.7 million. This accounted for 2.7% of the dollars and 6.8% of the transactions

– The average single family home sold price for 2011 totaled $4,108,658, a decrease of 5% from full year 2010 The median single family home sold price for 2011 totaled $2,787,500, a decrease of 12% from full year 2010

– 2011 Fractional dollars totaled $89,053,880 – an increase of 9% from 2010

– 2011 Fractional transactions totaled 209 – an increase of 19% from 2010 Hyatt Grand Aspen – 79, Ritz Carlton – 41, Residences at Little Nell – 33, St. Regis – 15, Residences at Snowmass Village – 8, Timbers – 7, Roaring Fork Club PUD – 6, Sanctuary – 5, Shadow Mountain – 3, Dancing Bear – 3, Prospector -3, and Roaring Fork Club Suites – 2

– December fractional dollars totaled $3,035,166 – an increase of 36% from December 2010:
December transactions totaled 10 – a decrease of 29% from December 2010 Hyatt Grand Aspen – 6 and St. Regis, Dancing Bear, Residences at Little Nell, and Residences at Snowmass – each reported


Reports courtesy Land Title


November 2011 Aspen (Pitkin County) Real Estate Market Report
compliments of Land Title Guarantee Company

* $124,204,186 – total dollars for the month, an increase of 4.87% from November 2010

* 57 – total transactions for the month, a decrease of 13.6% from November 2010

* $1,191,706,010 – total dollar volume through November, an increase of 4.75% from same time period 2010

* 700 – total transactions for the month, an increase of 12.5% from same time period 2010

* Both dollars and transactions continue to track ahead of 2010 Aspen posed 31 transactions ($105 million), Interval Units 11 ($3.5 million), Snowmass Village 7 ($7.7 million), Basalt 2 ($3.4 million), Woody Creek 1 ($3.2 million), Carbondale 1 ($850,000), Redstone 1 ($329,500), Old Snowmass 1 ($220,000). The remaining 2 transfers were quit claim deeds with doc fees totaling $32,000.

*Notable single family home sales for November include: $20.75 million – Ridge at Red Mountain, $16 million – Little Cloud, and $15 million – Ridge at Red Mountain. All three of these were new construction

* There were 2 bank sales in November totaling $1.98 million. This accounts for 3.5% of the transactions and 1.6% of the volume. Aspen – 1, Snowmass Village – 1

* Through November, there have been 47 bank sales totaling $32.3 million in Pitkin County. This accounts for 6.7% of the transactions and 2.7% of the dollars.

* The average single family home sold price through November totals $4,213,960, a decrease of 3% from full year 2010.

* The median single family home sold price through November is $2,837,500, a decrease of 11% from full year 2010.

* Fractional dollars for November total $3,455,350, a decrease of 13% from November 2010

* Fractional transactions for November total 11, a decrease of 27% from November 2010

Ritz Carlton – 4, St. Regis – 3, Hyatt Grand Aspen – 2, Residences at Little Nell – 1, and Sanctuary

* Through November, fractional dollars total $86,018,714, an increase of 9% from same time period 2010.

* Through November, fractional transactions total 199, an increase of 23% from same time period 2010


August 2011 Aspen (Pitkin County) Real Estate Market Report
compliments of Land Title Guarantee Company

$90,403,628 – total dollars for the month, an increase of 21% from August 2010

66 – total transactions for the month, an increase of 25% from August 2010

Through August, dollar volume totals $839,350,101 – up 16% from same time period 2010

Through August, transactions total 498 – up 13.7% from same time period 2010

Aspen led the county with 27 transactions ($66.4 million), Intervals followed with 17 transactions ($6.2 million), Snowmass Village had 12 transactions ($10.4 million), Basalt 5 ($4.3 million), Old Snowmass 2 ($2.7 million), Woody Creek 1 ($375,000)and $375,000, Redstone 1 ($10,000), The remaining transaction was a quit claim transfer totaling $10,300

There were 2 bank sales in the county in August, totaling $1.46 million. This accounts for 1.6% of the dollars and 3% of the transactions

Through August, there have been 42 bank sales, totaling $28.6 million. This accounts for 3.4% of the dollars and 8.4% of the transactions

The average sales price of a bank owned property (all areas, all types) through August is $650,549

The average single family home sold price through August totals $4,498,622, an increase of 4% from full year 2010

The median single family home sold price through August totals $2,650,000, a decrease of 17% from full year 2010

Fractional dollars for August totaled 46,163,900, an increase of 38% from August 2010

Fractional transactions for August totaled 17, an increase of 21% from August 2010

Ritz Carlton – 5, St. Regis – 3, Innsbruck ,Hyatt Grand Aspen, Residences at Little Nell, and Timbers – 2, and Shadow Mountain Lodge – 1

Through August, fractional dollars total $67,114,799, an increase of 7% from same time period 2010

Through August, fractional transactions total 151, an increase of 31% from same time period 2010


June 2011 Aspen (Pitkin County) Real Estate Market Report
compliments of Land Title Guarantee Company

$173,547,002 – total dollar volume, an increase of 50% from June 2010

June is the strongest dollar month thus far in 2011

Notable sales include: Silvertree Hotel PUD (Commercial) $38,750,000 and a residential unit in Snowmass Village for $16 million

66 – total transactions, an increase of 32% from June 2010

Through June, dollars total $709,571,212 – an increase of 24% from same period 2010

Through June, transactions total 389 – an increase of 13% from same time period 2010

Aspen (Zone 1) reported 30 of the transactions, Interval units 13, Snowmass Village 11, Basalt 6, Woody Creek 1, Old Snowmass 1, Carbondale 1, and Redstone 1. The remaining 2 transfers were quit claim deed transfers.

Aspen’s dollar volume totaled nearly $82 million, Snowmass Village $79.3 million, Interval units $7.5 million, Basalt $2.4 million, Woody Creek $1 million, Old Snowmass $635,000, Carbondale $520,000, Redstone $145,000, the remaining $34,875 were quit clam transfers

There were a total of 5 bank owned transactions in June. This accounts for 8% of the transactions and 2.4% of the dollars ( 2 – Snowmass Village, 1 – Aspen, 1 – Basalt, 1 – Interval Unit.)

Through June there have been 36 bank owned transactions. This accounts for 9% of the transactions and 3% of the dollars

The average single family home sold price for Pitkin County thus far in 2011 is $4.8 million, an increase of 10% from full year 2010

The median single family home sold price for Pitkin County thus far in 2011 is $3.1 million, a decrease of 2% from full year 2010

Fractional dollars totaled $7.5 million for the month, a decrease of 49% from June 2010

Fractional transactions totaled 13, a decrease of 28% from June 2010 ( Little Nell – 4, Hyatt Grand Aspen – 3, Ritz Carlton – 2, St.Regis – 2, Roaring Fork Club Suites -1, Timbers Club -1)

For the year, fractional dollars total $55.6 million, an increase of 2% from same time period 2010


March 2011 Aspen Real Estate Market Report
compliments of Land Title Guarantee Company

*$89,077,737 – total dollar volume, a decrease of 13.7% from March 2010

*68 total transactions – a decrease of 19% from March 2010

* Year to date dollars total $289,131,493, an increase of 39% from same time period 2010

* Year to date transactions total 196, an increase of 9.5%

* Aspen reported the most activity with 28 transactions, Interval units 17, Snowmass Village 15, Basalt 3, Old Snowmass 3, Woody Creek 1, and Carbondale 1

* Aspen reported the highest dollar volume with $58.7 million, Snowmass Village $18.7 million, Intervals $4.6 million, Old Snowmass $4.2 million, Carbondale $985,000, and Woody Creek $212,368

* Bank sales are on the rise in Pitkin County, with a reported 12 for the month totaling $9.9 million. This accounts for 18% of the transactions and 11% of the dollars. Bank sales: 5 – Aspen, 3 – Snowmass Village, 2 – Basalt, 1- Old Snowmass, 1 – fractional

* Average single family home sold price through March is $4,611,723, an increase of 6% from full year 2010

* Median single family home sold price through March is $3,087,500, a decrease of 3% from full year 2010

*Fractional dollars totaled $4.6 million, an increase of 74% from March 2010

*Fractional transactions totaled 17, an increase of 21% from March 2010

*The Ritz @ Highlands posted 6 fractional transactions, Hyatt Grand Aspen 3, Innsbruck, Residences at Snowmass Club, and Timbers each reported 2, while Prospector and Residences at Little Nell each reported 1

*Through March, fractional dollars total $19,119,554, an increase of 3% from same time period 2010

*Through March, transactions total 71, an increase of 92% from same time period 2010


February 2011 Aspen Real Estate Market Report
compliments of Land Title Guarantee Company

* $115,915,853 – total dollars for the month – an increase of 136% from February 2010

* 50 – total transactions for the month – an increase of 8.7% from February 2010

* Year to date dollars total $200,053,756 – an increase of 91.5% from same time period 2010

* Year to date transactions total 128 – an increase of approximately 35% from same time period 2010

* Aspen led in transactions with 19, Interval Units followed with 13, Snowmass Village 8, Woody Creek and Old Snowmass each posted 4, and Basalt 2

* Aspen also led in dollar volume with $97.5 million, Snowmass Village followed with $9 million, Intervals $4.4 million, Old Snowmass $3.4 million, Woody Creek $871,481, and Basalt $730,000

* Of the 50 transactions for the month, 3 were flagged as bank sales totaling $1.1 million, this accounts for less than 1% of both transaction and dollar volume

* Year to date, there have been 8 sales flagged as bank sales, totaling $4.7 million, this accounts for less than 1% of the transactions and 2.3% of the dollars

* Included in this month’s totals are some notable residential sales, all in Aspen (Zone 1)
— $20 million – Aspen Electric Subdivision, $19.5 million — Starwood, $16 million –Metes & Bounds on Star Mesa Road, and $13 million – Skyview PUD.

* The average single family home sold price in Pitkin County through February totals $5.57 million, an increase of 28% from full year 2010

* The median single family home sold price in Pitkin County through February totals $2.55 million, a decrease of 20% from full year 2010

* Fractional dollars for February totaled $4.4 million, a decrease of 57% from February 2010

* Fractional transactions for February totaled 13, which was the same as February 2010

* Year to date fractional activity totals $14.5 million, a decrease of 9% from same time period 2010

* Year to date transaction activity totals 54, an increase of 135% from same time period 2010


January 2011 Aspen Real Estate Market Report
compliments of Land Title Guarantee Company

– $96,653,315 – total dollars for January, an increase of 15% from January 2011

– 55 – total transactions for January, a decrease of 29.5% from January 2011

– Aspen led the county with 28 transactions ($74 million), Interval Units – 12 ($2.6 million), Snowmass Village – 9 ($12.4 million), Basalt – 3 ($1.3 million), Old Snowmass – 2 ($5.6 million), and Woody Creek – 1 ($775,000)

– There were 4 bank sales (bank as the grantor) in the county for January, totaling $1.72 million. This accounted for 7% of the transactions and less than 2% of the dollars.
1 – Aspen, 1 – Snowmass Village, 1 – Basalt, and 1 – Fractional

– The average single family sold price for January totaled $3,192,511 – a decrease of 22% from full year 2011

– The median single family sold price for January totaled $3,112,500 – an increase of 12% from full year 2011

– Fractional dollar volume for January totaled $2,642,400 – a decrease of 74% from January 2011

– Fractional transaction volume for January totaled 12 – a decrease of 71% from January 2011

June 2010 Aspen Real Estate Market Report

* $115,390,224 – total dollar volume, an increase of 81% from June 2009 – and the second highest dollar volume month this year.

* 50 – total transactions, an increase of 6.4% from June 2009.

* Mid Year dollars total $573.8 million – up nearly 22% from the same time period in 2009.

* Mid Year transactions total 344 – increase of approximately 4% from same time period 2009.

* Aspen had 18 transactions ($82 million), Interval Units accounted 18 transactions ($14.8 million), Snowmass Village – 8 transactions ($14.5 million), Redstone – 2 transactions ($1.1 million), Carbondale -1 transaction ($1.9 million), Old Snowmass – 1 transaction ($650,000), Basalt – 1 transaction ($220,000), and Woody Creek – 1 ($4,470)

* There was one sale in the month that listed a bank as the Grantor for $4 million. This was in the Meadowood Subdivision in Aspen. This represents approximately 3.5% of the dollar volume for the month.

* YTD, there have been 4 bank sales in Pitkin County totaling $5.6 million, this represents for less than 1% of the gross dollar volume

* The average single family home sold price through June is $4.4 million, a decrease of 10% from full year 2009

* The median single family home sold price is $4.1 million, an increase of 30% from full year 2009

* Fractional dollar volume for the month of June totaled $14.8 million up 138% from last June

* Fractional transactions totaled 18, an increase of 20% from June 2009

* Through June, dollar volume totals $52.3 million, a decrease of 63% from mid-year 2009

* Through June, transaction activity totals 89, a decrease of 45% from mid-year 2009

* The fractional activity in June was heavily attributed to the Residences at Little Nell with a total of 9 transactions and $13 million, Hyatt Grand Aspen had 4 and $566,000, Ritz Carlton had 3 – totaling $397,000, and St. Regis had 2 totaling $685,000

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