The real estate sales in Pitkin County are not what they used to be in 2006 and 2007 when sales overall came to $2.64 billion in Pitkin County, but the area is finally seeing some improvement over the recession years of 2008 and 2009. Real estate sales in 2010 rebounded with $1.26 billion in sales which is an 18% increase from 2009. The average sale price for single family homes in Pitkin County was $4.34 million which was a decrease from $4.9 million in 2009. The last quarter of 2010 saw the most activity with a 51% increase in sales before year’s end. Hopefully this upward trend will continue throughout 2011.
Aspen and Pitkin County real estate markets were once thought to be partially insulated against major economic trends in the rest of the country. The area real estate was less affected and usually bounced back more quickly during economic slowdowns. The recession of 2009 proved to be something the people here are not used to seeing. Sales in Pitkin County are finally and slowly bouncing back.
The Aspen Times reported today that real estate sales in Pitkin County bounced back in 2010 compared to the recession in 2009. While the average sale price decreased the dollar volume increased by 18%. The fourth quarter of 2010 saw a marked increase in sales activity compared to 2009.