Four Colorado Ski Resort Areas – 4 Sets of Real Estate Results

The numbers are in through third quarter 2011 YTD, and there’s a mixed bag among the key Colorado ski resort counties. Focusing on Pitkin (Aspen, Snowmass), Eagle  (Vail), Summit (Breckenridge, Copper Mtn.) and Routt (Steamboat Springs) counties, here are the key facts with the entire report located here.

Gross $ Sales Transactions

1)      Pitkin $977,073,114 (+18.84% vs. same time period 2010)

2)      Eagle $803,246,756 ( -29.6% vs. same time period 2010)

3)      Summit $496,283,700 (+1.74% vs. same time period 2010)

4)      Routt $331,187,400 (-14.91% vs. same time period 2010)

Number of Recorded Sales Transactions

1)      Routt = 1,039

2)      Summit = 1,005

3)      Eagle = 970

4)      Pitkin = 584

Number of Bank Sales Transactions

1)      Eagle = 225  (23.2% of total for the county)

2)      Routt = 127  (12.2% of total for the county)

3)      Summit = 89 (8.9% of total for the county)

4)      Pitkin = 45 (7.7% of total for the county)

Average Price Per Square Foot: Single Family Homes

1)      Pitkin $784.41  (-15% from 2010 ave. $/sq.ft.)

2)      Summit $254.87 (-5% from 2010 ave. $/sq.ft.)

3)      Eagle $235.98 (-26% from 2010 ave. $/sq.ft.)

4)      Routt $235.67 (-16% from 2010 ave. $/sq.ft.)

Pitkin and Summit counties are weathering the real estate roller coaster better than Eagle and Routt counties. The number of Bank Sales has been detrimental to Eagle and Routt counties depressing both total sales dollars year to date as well as average price per square foot of residences sold. It remains to be seen what the 4th quarter of 2011 will hold, but it’s likely that Bank Sales will continue to be a factor well into 2012 as shadow inventory remains and must be worked through in the months to come. Routt county is showing positive signs with regard to new construction permits being issued, and entry-level (non Bank owned) listings are getting offers, in some cases multiple offers, indicating that perhaps the bottom is in sight for homes priced under $300,000.

—For more information on buying real estate or questions regarding Steamboat Springs real estate or renting a home in Steamboat Springs, Colorado, feel free to call Charlie at 970-846-6435 or write me an email at: charlie@steamboatsmyhome.com

Thanks,

Charlie

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About SteamboatsMyHome.com

Originally from Seattle, Washington, Charlie relocated to Steamboat Springs with his wife Carol and their son, Finn, to become a Steamboat Springs realtor eager to share the joys of Colorado. Charlie is a second generation realtor and is proud to be a member of Steamboat Sotheby's International Realty in Steamboat Springs, Colorado. After graduating from Whitman College in Walla Walla, Washington, Charlie worked in the high-tech industry in Seattle for several years before deciding to follow his father's lead and began his career in real estate. Working for Windermere Real Estate in Seattle, Charlie had a great, innovative career in the highly competitive Seattle market before moving to Steamboat in 2005 and delving deep into Steamboat Springs real estate. At Steamboat Sotheby's International Realty, Charlie has become one of the top agents with his innovative style and tireless perseverance.
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