Market Information
| The Roaring Fork Valley and the Upper Grand Valley are still in an upswing cycle of appreciation. Limitations of land, increased demand, low inventory and, in the case of the Grand Valley, the oil and gas boom all are impacting property values. Areas with the largest growth are Glenwood, with an estimated 27% increase in transactions, and Carbondale, with an estimated 76% increase in dollar volume, both for the first four months of 2006 over the same time last year. Aspen to Woody Creek Even with new construction of developments like Base Village in Snowmass Village, Christiana Aspen, Limelight Lodge, Dancing Bear Lodge and Mother Lode and others, Aspen is challenged with meeting pent up demand. Other new products including fractional interests, like the Residences at the Little Nell and Hyatt Grand Aspen have added some diversity in the inventory. With all this activity, the current inventory is just over a year in Aspen if it keeps at its current pace. (Not too long ago we were talking about 3 to 4 years worth) Basalt Basalt is no longer the secret bedroom community. Thanks to the national media and growing numbers of residents, it has emerged as a superb place to live with world-class dining and shopping. As a result there is increased real estate activity in all price ranges. Glenwood to Rifle With new golf courses, major commercial development and oil and gas exploration in the west end of Garfield County from New Castle to Battlement Mesa, real estate, from Glenwood Springs to Parachute, is moving at a very fast pace. Vacant land sales have jumped 37% in the first 5 months of 2006 as compared to the same period in 2005. Carbondale Much of the growth in Carbondale is found in subdivisions. Projects like Blue Creek are nearly sold out, while sales in Aspen Glen, Cerise Ranch and River Valley Ranch are moving at a rapid pace. Overall, properties sold in the $500,000 to $750,000 range have increased 27% in just the first four months of 2006. Redstone Redstone and the Crystal River Valley continue to attract buyers looking for a true alpine environment. Given the vast size of the National Forest, private land is not as plentiful, and as expected, prices are rising as supply decreases. |
