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The Estin Report: Q1 2012 State of the Aspen Real Estate Market

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The report was published 04/22/12.

Q1 2012 Executive Summary

Total Aspen Snowmass Market

In Q1 2012, the Aspen market is considerably off from last year Q1 2011 in spite of generally favorable US economic winds and trends - at least until the March US unemployment numbers were announced in early April. In Q1 2012 the total Aspen and Snowmass real estate market is down -29% in dollar sales and down -19% in unit sales over Q1 2011.

A comparison to the prior quarter Q4 2011, indicates a continued loss of sales momentum from the strong 1st Half of 2011.

Q1 2012: $182.9M (-28% from Q1 2011) 55 unit sales (-27% from Q1 2011) Q1 2011: $285.1M dollar sales (+84% from Q1 2010) 75 unit sales (+63% from Q1 2010) Q1 2010: $140.6M dollar sales (+47% from Q1 2009) 46 unit sales (+48 from Q1 2009) Q1 2009: $95.7M dollar sales 31 unit sales

In particular, Q1 2012 lacked the big ticket home sales over $5M and $10M+ that the market experienced the same time last year. Bear in mind , the average home price is $4.4M and the median is $4.0M, so a $5M sale is close to mid-market.

Over $10M Home Sales Q1 2012: Q1 2012 = sales >$10M (1 sale) or -83% Q1 2011 = sales >$ 10M (6 sales)

Over $5M Home Sales Q1 2012: Q1 2012 = sales >$5M (7 sales) or -42% Q1 2011 = sales >$5M (12 sales)

More of report

Disclaimer: The statements made in The Estin Report and on Tim Estin's blog represent the opinions of the author not Coldwell Banker Mason Morse Real Estate. They should not be relied upon exclusively to make real estate decisions. A potential buyer and/or seller is advised to make an independent investigation of the market and of each property before deciding to purchase or to sell. To the extent the statements made herein report facts or conclusions taken from other sources, the information is believed by the author to be reliable, however, the author makes no guarantee concerning the accuracy of the facts and conclusions reported herein. Information concerning particular real estate opportunities can be requested from Tim Estin at 970.920.7387 or Email him. The Estin Report is copyrighted 2012 and all rights reserved. Use is permitted subject to the following attribution: "The Estin Report: State of the Aspen Real Estate Market, By Aspen broker Tim Estin, mba, gri."

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