The number of real estate transactions in Pitkin County rose in March but they did not generate the same level of cash flow as the same month last year, according to an analysis Land Title Guaranteed Co. released this week. There were 65 real estate transactions in March, an increase of 35 percent from March 2012, the report said. But total dollars for March — $73,084,171 – took a 30 dive compared with the same month last year, the analysis said.
For the year, the number of transactions, 168, is 13 percent ahead of real estate activity in the county last year, the analysis showed. Dollars volume year to date is $191,347,388 — a decrease of 22 percent from 2012. For the month, Aspen posted 26 transactions worth $41.7 million collectively, Snowmass Village saw 19 deals worth $24.4 million, Basalt posted four deals worth $1.7 million, Redstone saw three transactions worth $921,900 collectively, and there was one sale in Old Snowmass for $549,000. There were an additional 12 fractional units in the county valued at $3.9 million — which is a 3 percent drop from last year in terms of dollar volume but a 50 percent increase in terms of transaction volume.
The average single family home sold price thru March is $2,746,347, a decrease of 35 percent from full year 2012, the analysis said, and the median single family home sold price thru March is $2,200,000, a decrease of 21 percent from full year 2012. Land Title Guaranteed noted that there were 15 bank sales recorded in the county for March totaling $8 million, which accounted for 23 percent of the transactions and 11 percent of the dollars that month. Year to date, there have been 31 bank sales recorded in the county, totaling $17 million — this accounts for 18 percent of the transactions and 9 percent of the dollars.