Aspen, Snowmass Village and Basalt Real Estate Market Analysis by County

PITKIN COUNTY

Includes Aspen, Snowmass Village, Woody Creek, Old Snowmass and parts of Basalt

FEBRUARY 2012

$45,363,729 - total dollars for February, a decrease of 61% from February 2011 46 - total transactions for February, a decrease of 8% from February 2011 Through February, dollars total $142,017,044, a decrease of 29% from same time period last year Through February, transactions total 101, a decrease of 21% from same time period last year Aspen posted 22 transactions ($27.7 million), Interval units 12 ($4.6 million), Basalt 5 ($1.98 million), Snowmass Village 4 ($10.5 million), and Woody Creek 1 ($212,368). The remaining transaction was a quit claim transfer with a doc fee ($8,000). There were 4 bank sales (bank as the grantor) for the month, totaling $1.24 million. This accounted for 9% of the transactions and 3% of the dollars; (Aspen - 2 & Basalt - 2) Through February, there have been 8 bank sales for the month, totaling $2.96 million. This accounts for 8% of the transactions and 2 % of the dollars The most notable sale for February was a single family residence in Enclave Aspen totaling $5.475 million (**note - the Dancing Bear sale will be reflected in March numbers**) The average single family home sold price through February is $3,247,683, a decrease of 21% from full year 2011 The median single family home sold price through February is $3,112,500, an increase of 12% from full year 2011 Interval dollar volume for February was up 5% from February 2011, with a total of $4,645,000 Interval transaction volume for February was down 8% from February 2011, with a reported 12 Through February, interval dollar volume is down 50% from same period 2011 with a total of $7,287,400 Through February, there have been 24 interval transactions, a decrease of 56% from same time period

January 2012
$96,653,315 - total dollars for January, an increase of 15% from January 2011 55
total transactions for January, a decrease of 29.5% from January 2011 Aspen led the county with 28 transactions ($74 million), Interval Units - 12 ($2.6 million), Snowmass Village - 9 ($12.4 million), Basalt - 3 ($1.3 million), Old Snowmass - 2 ($5.6 million), and Woody Creek - 1 ($775,000) There were 4 bank sales (bank as the grantor) in the county for January, totaling $1.72 million. This accounted for 7% of the transactions and less than 2% of the dollars. 1 - Aspen, 1 - Snowmass Village, 1 - Basalt, and 1 - Fractional The average single family sold price for January totaled $3,192,511 - a decrease of 22% from full year 2011 The median single family sold price for January totaled $3,112,500 - an increase of 12% from full year 2011 Fractional dollar volume for January totaled $2,642,400 - a decrease of 74% from January 2011 Fractional transaction volume for January totaled 12 - a decrease of 71% from January 2011

SUMMARY FOR 2011 (provided by Land Title)

2011 total dollars totaled $1,269,446,586 up .52% from 2010
2011 transactions totaled 756, an increase of 9.7% from 2010

December dollars totaled $77,740,576 - a decrease of 38% from December 2010
December transactions totaled 56 - a decrease of 16% from December 2010
The highest sales price for December was $6.25 million for a single family residence in Aspen Zone 1

For the year - Aspen led with $826 million (65% of the total) and 317 transactions (42% of the total), Snowmass Village posted $238 million (19%) and 114 transactions (15%), Interval Units $89 million (7%) and 209 transactions (28%), Old Snowmass $53.4 million (4%) and 29 transactions (4%), Basalt $32 million (2.5%) and 42 (5.6%), Carbondale $5.6 million (.4%) and 8 (1%), Redstone $1.16 million (.09%) and 5 transactions (.66%). 

December totals - Aspen $55.8 million and 32 transactions, Woody Creek $9.4 million and 3 transactions, Snowmass Village $5.8 million and 6 transactions, Interval Units $3 million and 10 transactions, Old Snowmass $2.5 million and 2 transactions, and Basalt $1.2 million and 3 transactions
There were 4 Bank Owned Sales in December totaling $1.4 million.  This accounted for 1.8% of the volume and 7% of the transactions
2 - Fractional,  2 - Snowmass Village

For the year, there were 51 Bank Owned Sales totaling $33.7 million.  This accounted for 2.7% of the dollars and 6.8% of the transactions
The average single family home sold price for 2011 totaled $4,108,658, a decrease of 5% from full year 2010
The median single family home sold price for 2011 totaled $2,787,500, a decrease of 12% from full year 2010
2011 Fractional dollars totaled $89,053,880 - an increase of 9% from 2010
2011 Fractional transactions totaled 209 - an increase of 19% from 2010
Hyatt Grand Aspen - 79, Ritz Carlton - 41, Residences at Little Nell - 33, St. Regis - 15, Residences at Snowmass Village - 8, Timbers - 7, Roaring Fork Club PUD - 6, Sanctuary - 5, Shadow Mountain - 3, Dancing Bear - 3, Prospector -3, and  Roaring Fork Club Suites - 2

December fractional dollars totaled $3,035,166 - an increase of 36% from December 2010
December transactions totaled 10 - a decrease of 29% from December 2010
Hyatt Grand Aspen - 6 and St. Regis, Dancing Bear, Residences at Little Nell, and Residences at Snowmass - each reported 1

NOVEMBER, 2011

$124,204,186 - total dollars for the month, an increase of 4.87% from November 2010 57 - total transactions for the month, a decrease of 13.6% from November 2010 $1,191,706,010 - total dollar volume through November, an increase of 4.75% from same time period 2010 700 - total transactions for the month, an increase of 12.5% from same time period 2010 Both dollars and transactions continue to track ahead of 2010 Aspen posed 31 transactions ($105 million), Interval Units 11 ($3.5 million), Snowmass Village 7 ($7.7 million), Basalt 2 ($3.4 million), Woody Creek 1 ($3.2 million), Carbondale 1 ($850,000), Redstone 1 ($329,500), Old Snowmass 1 ($220,000). The remaining 2 transfers were quit claim deeds with doc fees totaling $32,000. Notable single family home sales for November include: $20.75 million - Ridge at Red Mountain, $16 million - Little Cloud, and $15 million - Ridge at Red Mountain. All three of these were new construction There were 2 bank sales in November totaling $1.98 million. This accounts for 3.5% of the transactions and 1.6% of the volume Aspen - 1, Snowmass Village - 1 Through November, there have been 47 bank sales totaling $32.3 million in Pitkin County. This accounts for 6.7% of the transactions and 2.7% of the dollars The average single family home sold price through November totals $4,213,960, a decrease of 3% from full year 2010 The median single family home sold price through November is $2,837,500, a decrease of 11% from full year 2010 Fractional dollars for November total $3,455,350, a decrease of 13% from November 2010 Fractional transactions for November total 11, a decrease of 27% from November 2010 Ritz Carlton - 4, St. Regis - 3, Hyatt Grand Aspen - 2, Residences at Little Nell - 1, and Sanctuary Through November, fractional dollars total $86,018,714, an increase of 9% from same time period 2010 Through November, fractional transactions total 199, an increase of 23% from same time period 2010$90,428,710 - total dollars for the month, a decrease of 54% from October 2010 59 - total transactions for the month, an increase of 5.4% from October 2010

OCTOBER, 2011

$1,067,501,824 - total dollar volume through October, this is an increase of 4.7% from same time period last year 643 - total transactions through October, this is an increase of 15.7% from same time period last year Both dollar volume and transaction totals continue to track ahead of both 2009 and 2010 Aspen accounted for 23 transactions ($56.4 million), Interval units 13 ($6.7 million), Snowmass Village 12 ($14.6 million), Old Snowmass 4 ($7.9 million), Basalt 2 ($3.3 million), Woody Creek 2 ($429,075), Carbondale 1 ($1.1 million). The remaining 2 transactions were quit claim transfers with doc fees.  The highest sale for the month was a $10 million in Aspen (Zone 1). Metes & bounds, single family on Pitkin Way There were no bank sales posted for the month of October  Through October, there have been 45 bank sales in Pitkin, totaling $30.3 million. This accounts for 8% of the transactions and 3% of the dollars The average single family sold price through October totals $4,093,257 - this is a decrease of 5% from full year 2010 The median single family sold price through October totals $2,650,000 - this is a decrease of 17% from full year 2010 Fractional dollars for the month totaled $6,676,565, an increase of 124% from October 2010 Fractional transactions for the month totlaed 13, even with October 2010 Ritz Carlton - 3, Hyatt Grand Aspen - 2, Sanctuary - 2, Dancing Bear, Prospector, Residences at Little Nell, Roaring Fork Club (PUD) , Shadow Mountain Lodge, and Residences at Snowmass Club - 1 each Through October, fractional dollars total $82,563,364, an increase of 10% from same time period, 2010 Through October, fractional transactions total 188, an increase of 28% from same time period 2010 Transaction breakdown for the month included: Residential Improved - 28, Fractional - 13, and Employee Units - 13, and Vacant Land - 4

SEPTEMBER 2011
September was the strongest transaction month since April 2008, with a total of 86 September boasted the second strongest dollar month of the year $137,723,013 - total dollars for the month, an increase of 38% from September 2010 86 - total transactions for the month, an increase of 38.7% from September 2010 Through September, dollars total $977,073,114 - an increase of 18.8% from same time period 2010 Through September, transactions total 584, an increase of 16.8% from same time period 2010 Aspen posted 34 transactions and $88.7 million, Intervals posted 24 and $8.8 million, Basalt 9 and $7 million, Snowmass Village 8 and $16 million, Old Snowmass 5 and $15.4 million, Woody Creek 2 and $449,440, Carbondale 1 at $1.04 million, and Redstone 1 at $250,000. The remaining $6,000 was 2 quit claim transfers with doc fees Bank Sales for the month totaled 3 with a dollar volume of $1.74 million. This accounts for 3.5% of the transactions and 1.3% of the dollar volume 1 - Aspen, 1 - Basalt, and 1 - Interval Unit Through September, there have been a total of 45 bank sales in the county with a total of $30.3 million. This accounts for nearly 8% of the transactions and 3% of the dollars Notable sales for the month included: Highest Priced - $9.6 million for a single family residence in the City of Aspen, Highest PPSF - $2,858/foot for Commercial office space on Main Street with a sales price of $314,388 The average single family sold price through September is $4,118,399 - a decrease of 5% from full year 2010 The median single family sold price through September is $3,537,500 - an increase of 11% from full year 2010 September fractional dollars totaled $8,772,000 - a decrease of 7% from September 2010 September fractional transactions totaled 24 - an increase of 26% from September 2010 Hyatt Grand Aspen - 14, Ritz Carlton - 4, Little Nell - 2, Roaring Fork Club PUD - 2, Roaring Fork Club Suites - 1, and St. Regis - 1 Through September, fractional dollars total $75,886,799 - an increase of 5% from same time period 2010 Through September, fractional transactions total 175 - an increase of 31% from same time period 2010

AUGUST 2011
$90,403,628 - total dollars for the month, an increase of 21% from August 2010. 66 - total transactions for the month, an increase of 25% from August 2010 Through August, dollar volume totals $839,350,101 - up 16% from same time period 2010 Through August, transactions total 498 - up 13.7% from same time period 2010. Aspen led the county with 27 transactions ($66.4 million), Intervals followed with 17 transactions ($6.2 million), Snowmass Village had 12 transactions ($10.4 million), Basalt 5 ($4.3 million), Old Snowmass 2 ($2.7 million), Woody Creek 1 ($375,000)and $375,000, Redstone 1 ($10,000), The remaining transaction was a quit claim transfer totaling $10,300 There were 2 bank sales in the county in August, totaling $1.46 million. This accounts for 1.6% of the dollars and 3% of the transactions Through August, there have been 42 bank sales, totaling $28.6 million. This accounts for 3.4% of the dollars and 8.4% of the transactions The average sales price of a bank owned property (all areas, all types) through August is $650,549 The average single family home sold price through August totals $4,498,622, an increase of 4% from full year 2010 The median single family home sold price through August totals $2,650,000, a decrease of 17% from full year 2010. Fractional dollars for August totaled 46,163,900, an increase of 38% from August 2010 Fractional transactions for August totaled 17, an increase of 21% from August 2010 Ritz Carlton - 5, St. Regis - 3, Innsbruck ,Hyatt Grand Aspen, Residences at Little Nell, and Timbers - 2, and Shadow Mountain Lodge - 1 Through August, fractional dollars total $67,114,799, an increase of 7% from same time period 2010 Through August, fractional transactions total 151, an increase of 31% from same time period 2010.

JULY 2011
$39,375,261 - total dollar volume or the month, a decrease of 47% from same time period 2010 43 - total transactions, an increase of 5% from same time period 2010 $748,946,473 - total dollar volume through July, an increase of 15.6% from same time period 2010 432 - total transactions through July, an increase of 12.2% from same time period 2010 Transaction breadkdown for July; Aspen 21, Interval units 11, Snowmass Village 7, Woody Creek 2, Basalt 1, and 1 quit claim transfer with a doc fee Dollar volume breakdown for July; Aspen $22.9 million, Snowmass Village $7.4 million, Interval Units $5.3 million, Woody Creek $3.2 million, Basalt $627,500, and the quit claim transfers totaled $5,200 July transaction totals included 4 sales where a bank was the grantor, totaling $3.5 million in dollar volume. This accounts for approximately 9% of both transaction and dollar volume for the month Through July, there have been 40 sales in Pitkin County with the grantor as a bank. Dollar volume on these totals $27.1 million. This accounts for 9.3% of the transactions and 3.6% of the dollar volume. The average price of the bank owned sales through July (all property types, all areas) is $678,076 July fractional dollar volume totaled $5.3 million, a decrease of 11% from July 2010 July fractional transactions totaled 11, a decrease of 8% from July 2010 Hyatt Grand Aspen, Residences at Little Nell, and Roaring Fork Club each with 3 transactions, Ritz Carlton, St. Regis, Sanctuary, Shadow Mountain Lodge, and Residences at Snowmass Club each had 1 Through July, fractional dollars total approximately $61 million, an increase of 5% from same time period 2010 Through July, fractional transactions total 134, which is an increase of 33% from same time period 2010

JUNE 2011
$173,547,002 - total dollar volume, an increase of 50% from June 2010 June is the strongest dollar month thus far in 2011 Notable sales include: Silvertree Hotel PUD (Commercial) $38,750,000 and a residential unit in Snowmass Village for $16 million 66 - total transactions, an increase of 32% from June 2010 Through June, dollars total $709,571,212 - an increase of 24% from same period 2010 Through June, transactions total 389 - an increase of 13% from same time period 2010 Aspen (Zone 1) reported 30 of the transactions, Interval units 13, Snowmass Village 11, Basalt 6, Woody Creek 1, Old Snowmass 1, Carbondale 1, and Redstone 1. The remaining 2 transfers were quit claim deed transfers. Aspen's dollar volume totaled nearly $82 million, Snowmass Village $79.3 million, Interval units $7.5 million, Basalt $2.4 million, Woody Creek $1 million, Old Snowmass $635,000, Carbondale $520,000, Redstone $145,000, the remaining $34,875 were quit clam transfers There were a total of 5 bank owned transactions in June. This accounts for 8% of the transactions and 2.4% of the dollars 2 - Snowmass Village, 1 - Aspen, 1 - Basalt, 1 - Interval Unit Through June there have been 36 bank owned transactions. This accounts for 9% of the transactions and 3% of the dollars The average single family home sold price for Pitkin County thus far in 2011 is $4.8 million, an increase of 10% from full year 2010 The median single family home sold price for Pitkin County thus far in 2011 is $3.1 million, a decrease of 2% from full year 2010 Fractional dollars totaled $7.5 million for the month, a decrease of 49% from June 2010 Fractional transactions totaled 13, a decrease of 28% from June 2010 Little Nell - 4, Hyatt Grand Aspen - 3, Ritz Carlton - 2, St.Regis - 2, Roaring Fork Club Suites -1, Timbers Club -1 For the year, fractional dollars total $55.6 million, an increase of 2% from same time period 2010 For the year, fractional transactions total 123, an increase of 38% from same time period 2010

MAY 2011
$127,403,833 - total dollar volume, an increase of 56% from May 2010 May is the strongest month for dollar volume thus far in 2010. 54 - total transactions, an increase of 23% from May 2010 Year-to-date dollars total $536,024,210, an increase of 17% from same time period 2010 Year-to-date transactions total 323, an increase of approximately 10% from same time period 2010 Aspen led the month with 26 transactions with a total of $93.9 million, Snowmass Village totaled 8 and $24.9 million, Old Snowmass 3 totaling $1.5 million, Basalt 2 totaling $411,000. Interval units accounted for 15 and $6.7 million There was a notable sale in Snowmass Village totaling $20.5 million (Owl Creek Ranch Subdivision) Bank sales totaled 5 with a dollar volume of $1.41 million. This accounts for approximately 1% of both transactions and dollar volume. 2- Basalt, 2 - Snowmass Village, 1 - interval in Snowmass Village Year-to-date there have been 31 bank sales totaling $19.4 million. This accounts for 1% of the total transactions and 3.6% of the dollar volume Through May, the average single family home sold price in Pitkin County is up 11% from full year 2010 to $4,839,635 Through May, the median single family home sold price in Pitkin County is down 1% from full year 2010 to $3,150,000 Fractional dollars for May total $6,720,900, a decrease of 22% from May 2010 Fractional transactions for May total 15, an increase of 7% from May 2010 Hyatt Grand - 8, Ritz Carlton - 3, Residences at Little Nell - 3, Sanctuary - 1 Through May, dollar volume totals $48,118,474, an increase of 28% from same time period 2010 Through May, transactions total 110, an increase of 55% from same time period 2010

February, 2011
$115,915,853 – total dollars for the month – an increase of 136% from February 2010•50 – total transactions for the month – an increase of 8.7% from February 2010•Year to date dollars total $200,053,756 – an increase of 91.5% from same time period 2010•Year to date transactions total 128 – an increase of approximately 35% from same time period 2010•Aspen led in transactions with 19, Interval Units followed with 13, Snowmass Village 8, Woody Creek and Old Snowmass each posted 4, and Basalt 2•Aspen also led in dollar volume with $97.5 million, Snowmass Village followed with $9 million, Intervals $4.4 million, Old Snowmass $3.4 million, Woody Creek $871,481, and Basalt $730,000•Of the 50 transactions for the month, 3 were flagged as bank sales totaling $1.1 million, this accounts for less than 1% of both transaction and dollar volume?2 bank sales were in Old Snowmass and 1 was in Basalt•Year to date, there have been 8 sales flagged as bank sales, totaling $4.7 million, this accounts for less than 1% of the transactions and 2.3% of the dollars•Included in this month’s totals are some notable residential sales, all in Aspen (Zone 1)?$20 million – Aspen Electric Subdivision, $19.5 million - Starwood, $16 million – Metes & Bounds on Star Mesa Road, and $13 million – Skyview PUD •The average single family home sold price in Pitkin County through February totals $5.57 million, an increase of 28% from full year 2010•The median single family home sold price in Pitkin County through February totals $2.55 million, a decrease of 20% from full year 2010•Fractional dollars for February totaled $4.4 million, a decrease of 57% from February 2010•Fractional transactions for February totaled 13, which was the same as February 2010•Year to date fractional activity totals $14.5 million, a decrease of 9% from same time period 2010•Year to date transaction activity totals 54, an increase of 135% from same time period 2010

January 2011
•$84,137,903 – total dollars, an increase of 52% from January 2010 •78 – total transactions, an increase of 59% from January 2010 •41 of the transactions were interval units, Aspen totaled 21, Basalt 6, Snowmass Village 5, Quit claim transfers 3, Old Snowmass and Carbondale each had 1 •Aspen reported nearly $44 million, Snowmass Village $22.6 million, Interval units $10.1 million, Basalt $5.9 million, Old Snowmass $640,000, Quit Claims $466,390, and Carbondale $333,000 •There were 5 bank sales in Pitkin County for the month, totaling $3.6 million – this represents 4.3% of the dollars and 6.4% of the transactions ?2 – Basalt, 1 – Aspen, 1 – Snowmass Village, and 1 – Interval unit •The average single family home sold price in January totaled $4.16 million, a decrease of 4% from full year 2010 •The median single family home sold price in January totaled $2.08 million, a decrease of 35% from full year 2010 •Fractional activity was up significantly in January with the highest dollar volume since June 2010 and highest transaction activity since February 2009 •Fractional dollars totaled $10,149,554 – an increase of 77% from January 2010 •Fractional transactions totaled 41 – an increase of 310% from January 2010 ?25 – Hyatt Grand Aspen, 10 – Ritz Carlton Aspen Highlands, 3 – Residences at Little Nell, St. Regis – 1, Residences at Snowmass Club – 1, and Timbers Club - 1

November 2010
$118,441,223 – total dollars for the month – increase of 45% from November 2009 •66
total transactions for the month – decrease of 8% from November 2009
Through November, dollars total $1,137,683,409 – increase of nearly 15% from same time period 2009 •Through November, transactions total 622 – decrease of 3% from same time period 2009 •Aspen captured 30 of the transactions, Interval units totaled 15, Redstone posted 8, Snowmass Village 6, Basalt 4, Woody Creek 2, and Carbondale 1 •Aspen, Intervals, and Basalt each reported increases in transaction activity over October •Aspen dollars totaled $91.2 million, Snowmass $12.6 million, Woody Creek $5 million, Intervals $4 million, Carbondale $2 million, Redstone $1.9 million, and Basalt $1.8 million •There was a notable commercial sale totaling $17,750,000 for Benton Building Condos (Unit 1 & 2) – in Aspen •There were 2 sales in November that listed banks as the grantor totaling $575,000 in volume, representing 3% of the transactions and only .5% of the volume •The average single family home sold price in Pitkin County totals $4,328,538 through November, a decrease of 12% from full year 2009 •The median single family home sold price in Pitkin County totals $3,175,000 through November, an increase of 1% from full year 2009 •$3,986,718 – total interval dollars – a decrease of 27% November 2009 •15 – total interval transactions – a decrease of 25% from November 2009 •Through November interval dollars total $79,111,648, a decrease of 56% from same time period 2009 •Through November interval transactions total 162, a decrease of 39% from same time period 2009

October, 2010
$197,043,696 - total dollar volume for October, an increase of 55.63% from October 2009
56 - total transactions for the month of October, a decrease of 28.21% from October 2009
$1,019,242,186 – total dollar volume through October, an increase of 12% from last 2009, same time period
556 – total transactions through October, a decrease of 2.46% from same time period of 2009
Activity was the highest for the county this month in Aspen with a reported 25 transactions and $159 million, Interval Units captured 13 of the transactions and nearly $3 million, Snowmass Village reported 8 transactions and $20.5 million, Carbondale reported 4 transactions totaling $9.1 million, Woody Creek also reported 4 transactions and $4.6 million, Old Snowmass and Basalt each reported 1 transaction with $650,000 and $188,042, respectively. Snowmass Village and Woody Creek were the only areas within Pitkin County that posted increases to both transactions and dollar volume over September Notable sales for the month include: $70 Million Commercial in Aspen Zone 1 (Aspen Residence Club & Hotel), $31.5 million Single Family Residence in Aspen Zone 1 (West Buttermilk Pfister), and a $11.9 million Single Family Residence in Snowmass Village (Hidden Meadows at Snowmass) There was 1 bank owned sale for the month, this was a condo in Snowmass Village, totaling $565,000. This represented 2% of the transactions and .3% of the dollar volume The average single family home sold price through October totals $4,902,989, which is a decrease of 8% from 2009’s full year total of $4,902,989 The median single family home sold price through October totals $3.5 million, which is an increase of 11% from full year 2009’s total of $3,153,088 Fractional dollar volume for October totaled nearly $3 million, which is a decrease of 75% from October 2009 Fractional transactions totaled 13, a decrease of 58% from October 2009 Through October, fractional dollars total $75.1 million, a decrease of 57% same time period 2009 Through October, fractional transactions total 147, a decrease of 40% from same time period 2009

September 2010
$99,756,099 – total dollar volume for the month, a decrease of 22% from September 2009
62 – total transactions for the month, a decrease of 16% from September 2009
September’s 62 transactions represent the strongest transaction month since April, and is the third strongest of the year!
Year to date dollars total $822,198,490, an increase of nearly 5% from the same time period 2009
Year to date transactions total 500, an increase of 1.6% from same time period 2009
There were 33 transactions in Aspen totaling $74 million, 19 transactions were interval units totaling $9.4 million, Snowmass Village reported 7 transactions $14.9 million, Woody Creek reported 2 transactions totaling $502,210, and Basalt rounded out the county with 1 transaction totaling $782,697 Aspen, Snowmass, Basalt, and interval units all reflected increases in both dollar volume and transactions over August! There was one sale in the month of September that listed a bank as the grantor totaling $3.2 million. This sale (which was in Aspen) represented 1.6% of the transactions and 3.2% of the dollar volume The average single family home sold price thus far in 2010 totals $4,285,673, a decrease of 13% from full year 2009 The median single family home sold price thus far in 2010 totals $3,525,000, an increase of 12% over full year 2009.
Fractional dollar volume for the month of September totaled $9,437,596 – an increase of 183% over September 2009. Fractional units totaled 19, an increase of 6% over September 2009 Of the 19 fractional transactions, 5 were at Residences at Little Nell, 3 – Residences at Snowmass Club, 3- Ritz Carlton Highlands, 3 – Hyatt Grand Aspen, 2 – Roaring Fork Club Suites, 1 – Innsbruck, 1- St. Regis, and 1- Prospector Year to date fractional dollar volume totals $72,138,430, a decrease of 55% from same time period 2009 Year to date fractional activity totals 134, a decrease of 38% from same time period 2009.

August, 2010
$74,470,199 – total dollar volume for the month, an increase of 10.28% from August 2009 53 – total transactions, an increase of 20.45% from August 2009 Year to date, dollar volume totals $722,442,391, an increase of 10.28% from same time period of 2009 Year to date, transactions total 438, an increase of 4.78% from the same time period of 2009 There were 30 transactions in Aspen totaling $62.9 million, 14 interval units totaling $4.5 million, 6 in Snowmass totaling $4.9 million, 1 in Woody Creek for $1.35 million, 1 in Basalt for $500,000, and 1 in Redstone totaling $309,000 Aspen is the only area within the county that reported an increase in both dollar volume and transaction activity over July There was one transaction in August that listed a bank as the grantor – this was in Aspen for $243,000. The accounts for .33% of the dollar volume and 1.9% of the total transactions There have been 7 transactions year to date where a bank was the grantor. This accounts for 1.2% of the dollar volume and 1.6% of the total transactions Fractional dollar volume for the month totaled $4,468,500 – a decrease of 48% from August 2009 Fractional transactions total 14 – which is a decrease of 13% from August 2009 Year to date fractional dollar volume has shown a decrease of 60% from 2009 with a reported $62.7 million Year to date fractional transaction activity is down 42% with a total of 115 transactions through August The average single family sold price through August totals $4.4 million, which is a decrease of 10% from full year 2009 The median single family sold price through August totals $4.05 million, an increase of 28% from full year 2009

July, 2010

$74,155,436 – total dollar volume for the month, decrease of 41% from July 2009
41 total transactions for the month, decrease of 4.6% from July 2009
Year to date dollar volume, $647,972,192 – an increase of 8.3% from the same time period in 2009
Year to date transactions, 385 – an increase of 2.9% from the same time period 2009
Fractional dollar volume totaled $5.97 million, a decrease of 43% from July 2009 Fractional transactions totaled 12, a decrease of 33% from July 2009 Hyatt -4, Residences at Little Nell – 3, Roaring Fork Club Suites – 2, Ritz Carlton, Roaring Fork Club, and Sanctuary each reported 1 Year to date fractional dollar volume totals $58.2 million, a decrease of 61% from same time period 2009 Year to date fractional transactions total 101, a decrease of 44% from the same time period 2009
Aspen led the county with 17 transactions and $54.36 million, Interval Units totaled 12 with $5.97 million
Snowmass Village totaled 7 and $11.4 million
Basalt reported 3 and $996,584
Old Snowmass and Redstone each reported 1 transaction with $1.2 million and $190,000, respectively
There were 2 sales in the county that were bank owned sales, totaling $2.78 million – this represents 3.74% of the dollar volume and approximately 5% of the transactions 1 in Snowmass and 1 in Old Snowmass There have been 6 banks sales year to date, totaling $8.4 million – representing 1.3% of the dollar volume and 1.6% of the transactions
Through July the average single family sold price for the county totals $4.478 million, a decrease of 9% from full year 2009 Through July, the median single family sold price for the county totals $4.15 million, an increase of 32% from full year 2009

June, 2010

$115,390,224 – total dollar volume, an increase of 81% from June 2009 – and the second highest dollar volume month this year

50 – total transactions, an increase of 6.4% from June 2009

Mid Year dollars total $573.8 million – up nearly 22% from the same time period in 2009

Mid Year transactions total 344 – increase of approximately 4% from same time period 2009

Aspen had 18 transactions ($82 million), Interval Units accounted 18 transactions ($14.8 million), Snowmass Village - 8 transactions ($14.5 million), Redstone - 2 transactions ($1.1 million), Carbondale -1 transaction ($1.9 million), Old Snowmass – 1 transaction ($650,000), Basalt – 1 transaction ($220,000), and Woody Creek – 1 ($4,470)

There was one sale in the month that listed a bank as the Grantor for $4 million. This was in the Meadowood Subdivision in Aspen. This represents approximately 3.5% of the dollar volume for the month.

YTD, there have been 4 bank sales in Pitkin County totaling $5.6 million, this represents for less than 1% of the gross dollar volume The average single family home sold price through June is $4.4 million, a decrease of 10% from full year 2009

The median single family home sold price is $4.1 million, an increase of 30% from full year 2009

Fractional dollar volume for the month of June totaled $14.8 million up 138% from last June

Fractional transactions totaled 18, an increase of 20% from June 2009

Through June, dollar volume totals $52.3 million, a decrease of 63% from mid-year 2009

Through June, transaction activity totals 89, a decrease of 45% from mid-year 2009

The fractional activity in June was heavily attributed to the Residences at Little Nell with a total of 9 transactions and $13 million, Hyatt Grand Aspen had 4 and $566,000, Ritz Carlton had 3 – totaling $397,000, and St. Regis had 2 totaling $685,000

May, 2010

• $81,899,335 – total dollar volume – an increase of 27% from May 2009

• 44 – total transactions – a decrease of 2% from May 2009

• Year to date through May, dollar volume totals $458,426,532, an increase of 12.45% from same timeframe of 2009

• YTD through May, transaction totals 294, an increase of 3.52% from same time period 2009

• 21 transactions and $52.8 million took place in Aspen, 14 transactions and $8.6 million were interval units, 8 transactions and $17.9 million were in Snowmass, and 1 transaction for $2.7 million took place in Old Snowmass

• There was one sale for the month in Pitkin County (Aspen) where a bank was listed as a grantor totaling $750,000, accounting for less than 1% of the total volume

• For the year, there have been a total of 3 bank owned sales in Pitkin County, totaling $1.6 million, .35% of the total volume

• The average single family sold price through May is $4.136 million, a decrease of 16% from full year 2009

• The median single family sold price through May is $4.1 million, an increase of 30% from full year 2009

• Fractional activity for the month totaled $8.6 million, an increase of 10% over May 2009

• Fractional transactions totaled 14, a decrease of 18% from May 2009 o Residences at Little Nell – 5, Ritz Carlton at Highlands – 3, Hyatt Grand Aspen – 3, Residences at Snowmass Club – 2, Timbers - 1

• YTD through May, fractional dollars total $37.5 million, a decrease of 72% from same time period 2009

• YTD through May, fractional transactions total 71, a decrease of 52% from same time period 2009

April, 2010• 168,793,594 - total dollar volume, up 128% from April 2009 o Included in the total dollar volume was a notable commercial transaction of $37.9 million in Aspen • 71 – total transactions, up 54% from April 2009 • Year to date, through April, total dollar volume $376,527,197, up 9.7% from same time period last year • Year to date transactions total 250, up 4.6% from same time period last year • Aspen reported the highest number of transactions with 31, there were 20 interval units, Snowmass Village 10, Basalt and Old Snowmass each reported 3, Carbondale and Redstone reported 2 each as well • Aspen dollar volume totaled $136.8 million, Snowmass Village $12.6 million, Interval units $10.2 million, Old Snowmass $5.9 million, Redstone $1.3 million, Basalt $1 million, and Carbondale $820,000 • There were no sales bank sales in Pitkin County in the month of April, there have only been 2 recorded thus far in 2010 • The average single family home sold price through April is $4,078,773, a decrease of 17% from full year 2009 • The median single family home sold price though April is $3,550,000, an increase of 13% from full year 2009 • Fractional activity showed a nice increase in dollar volume for the month with $10,248,962 reported, up 91% from April 2009 • There were 20 fractional transactions, an increase of 18% from April 2009 o 6 at the Little Nell, 5 at the Hyatt, 2 each at the Ritz, Sanctuary, and Snowmass Club, and 1 each at Roaring Fork Club, Shadow Mountain Lodge, and Timbers Club • Through April, fractional dollars total $28.9 million, a decrease of 77% from same time period 2009 • Through April, fractional transactions total 57, which is a decrease of 56% from the same time period 2009

March, 2010• $103,247,244 total dollar volume, up 120% from March 2009 • 84 total transactions, an increase of 105% from March 2009 • Year to date, through March, dollar volume totals $207,733,603 – a decrease of 23% from the same time period last year • Through March, transactions total 179, a decrease of 7.25% from the same time last year • Aspen led the county with 31 transactions, interval sales totaled 14, Snowmass Village reported 13, Basalt reported 4, Old Snowmass reported 3, the remaining 19 transactions were quit claim deeds with an associated document fee • Aspen’s total dollar volume was $52.37 million, Snowmass Village reported $38.26 million, Old Snowmass $6.587 million, Basalt $3.275 million, Intervals $2.642 million, the remaining $117,912 were quit claim deeds • There were two notable residential sales for the month, both in Snowmass – one for $10 million and another for $9.04 million • There were no sales in the month of March with a bank listed as the grantor, there have been 2 thus far in 2010 • The average single family sold price through the month of March is $3,712,121, a decrease of 24% from full year 2009 • The median single family sold price through the month of March is $4,100,000, an increase of 30% from full year 2009 • Interval dollar volume totaled $2.642 million, a decrease of 81% from March 2009 • Interval transactions totaled 14, a decrease of 39% from March 2009 • Hyatt Grand Aspen led with $918,000, followed by Timbers with $705,000, Ritz Carlton reported $470,000, St. Regis $350,000, and Sanctuary $199,000 • Hyatt led transactions with 6, Ritz Carlton reported 4, Timbers had 2, St. Regis and Sanctuary rounded out the total, each reporting 1 • Through March, interval dollars total $18,643,975, a decrease of 84% from the same time period last year • Though March, interval transactions total 37, a decrease of 68% from the same time period last year o Recall that in early 2009 there was a lot of activity with both The Residences at Little Nell and Dancing Bear. Through March of last year, the Nell had a total of 67 transactions and Dancing Bear had 25

February, 2010

$49,136,199 total dollar volume, a decrease of 53.8% from February 2009. 46 total transactions, a decrease of 37.8% from February 2009. Please keep in mind that there was a flurry of fractional transactions last year at this time with the Little Nell and Dancing Bear. In February 2009 these two projects accounted for $40,323,600 and 40 transactions. For February 2010, Aspen reported $23.4 million in dollar volume, Snowmass Village $13.6 million, Intervals $10.3 million, Basalt $1.4 million, Redstone $457,000, and Old Snowmass $61,309. Included in the Aspen dollars was a single family home sale for $6.25 million. Old Snowmass dollars consisted of 2 sales in Lazy Glen. Intervals and Basalt were the only areas that showed increased transaction activity over last month. The average single family home sold price for Pitkin County through the month of February is $2,576,590, a decrease of 47% from full year 2009’s sold price of $4,902,989. The median single family home sold price is $2,437,500, a decrease of 24% from full year 2009’s sold price of $3,153,088. Please see page 5 of the PDF for additional detail by specific area within Pitkin County, as well as multi family and residential land info. Interval dollars for the month were $10,268,000, a decrease of 75% from Feb 2009

Interval dollars for the month totaled 13, a decrease of 70% from Feb 2009.

January, 2010 Opinion: Total dollar volume $55,349,360, a decrease of 52% from January 2009’s total of $115,936,999 Total transactions 49, a decrease of 37% from January 2009’s total of 78. Please note that January 2009 included 41 sales at the Residences at the Little Nell which totaled $64 million in dollar volume Aspen led the county with 20 transactions, followed by Snowmass with 10, there were 10 interval sales, Woody Creek reported 4, Carbondale 2, and Basalt and Redstone each had 1. There was also 1 quit claim deed with a doc fee recorded, which rounds out the total of 49 transactions. Aspen also led in dollar volume with $29 million, Snowmass followed with $10 million, Intervals totaled $5.7 million, Woody Creek totaled $5.7 million, Carbondale $1.1 million, and Redstone $585,000. The remaining $3.1 million was a quit claim transfer. Interval sales and the Woody Creek area both reported increases in transactions and dollar volume over December 2009 Snowmass reported an increase in dollar volume, but a decrease in transactions The average single family home sold price for January totaled $2.2 million, this is a decrease of 55% from the full year 2009 total of $4.9 million The median single family home sold price for January totaled $2.1 million, this is a decrease of 33% from the full year 2009 total of $3.2 million Please keep in mind that this is comparing 9 single family sales thus far in 2010 to full year 2009 Please refer to page 5 of the PDF for additional detail by area Interval dollar volume for January totaled $5.7 million, a decrease of 91% from January 2009 Interval transactions for January totaled 10, a decrease of 79% from January 2009 Again, most of the dollar volume in January 2009 was attributed to the Residences at the Little Nell sales The 10 interval transactions were as follows: Ritz Carlton – 4, Little Nell – 3, Hyatt, Dancing Bear, and Sanctuary each reported 1 Per page 4, there were 2 sales in Pitkin County that listed a bank as the grantor – 1 in Aspen Zone 1, and 1 Interval unit

December and Year-End, 2009 Opinion: Pitkin County reported the highest gross volume and lowest percentage decline over 2008 in 5 counties including Pitkin, Eagle, Routt, Summit and Garfield. 60 total transactions for December, down 10.5% from December 2008. $81,241,755 total dollars for December, down 27.5% from December 2008. For the year, interval dollars came in at $182 million, up 260% from 2008’s year end total. For 2009, interval transactions totaled 272, which is an increase of 19% over 2008. Aspen, Basalt, and Old Snowmass all reported transaction increases over November 2009. Aspen led the county with 27 transactions in December, followed by Snowmass Village with 15, Basalt 7, Intervals 6, and Woody Creek 1. For the year, Aspen led with 277, Intervals followed with 272, Snowmass 85, Basalt 28, Old Snowmass 19, Woody Creek 10, Redstone 8, Carbondale 1, the remaining 2 were quit claims with doc fees.

November, 2009 Opinion: The gap in closing...yet another month of increases over 2008 in both dollar volume and transactions!!! $81,433,876 total dollar volume, up 26% from November 2008. 72 total transactions, up 15% from November 20008. Transaction breakdown: Aspen 24(33%), Snowmass Village 21(29%), Interval units 20(28%), Basalt 4(6%), Old Snowmass 1(1%), and Woody Creek 1(1%). Fractional units totaled 20, up 150% from November 2008...Hyatt 9, St. Regis 3, Ritz Carlton 2, Timbers 2, Dancing Bear 1, Residences at Little Nell 1, Residences at Snowmass Club 1.

October, 2009 Opinion: Another sucessive month of increases from 2008 in both dollar volume and transactions!! $126,613,840 in total dollar volume, up 46% from October 2008. 78 total transactions, up 15% from October 2008. 78 transactions ties January for the strongest transaction month of 2009. Aspen reported 33 transactions (43%), Interval units totaled 31(40%), Snowmass Village and Basalt each reported 5(6%), Old Snowmass 2(3%), Redstone and Woody Creek each reported 1(1%). 31 Fractional units were sold in October totaling $11,935,410 up 101% from Oct 2008. Grand Hyatt Aspen=17, Residences at Little Nell=5, Ritz at Highlands=4, roaring Fork Club & Timbers=2, Dancing Bear=1.

September, 2009 Opinion: September is the first month of the year to post increases in both dollars and transactions from 2008! $128,180,662 in total dollar volume, up 27% from September 2008! 74 total transactions, up 21% from September 2008! Aspen reported 44 transactions (59%), Interval units totaled 18 (24%), Snowmass reported 6 (8%), Basalt 3 (4%), Old Snowmass 2 (3%), Redstone 1 (1%)

August, 2009 Opinion: $56,984,673 in total dollar volume with a total of 44 transactions. Year to date, Basalt is the only area with an increase in single family home price with a 5% increase. The Residences at Little Nell with a dollar volume of $123,623,000 lead the Interval market with 77.95% of the interval sales. The Dancing Bear Lodge is in second place with 12.83% of the total dollar volume. Contact us for the full report.

July, 2009 Opinion: $126,622,273 in total dollar volume with one notable sale of $43 Million. Aspen reported 18 transactions (42%), Interval units totaled 18 (42%), Redstone and Basalt each reported 2 (4.7%), and Snowmass, Woody Creek, and Old Snowmass each reported 1 (2.3%). Fractional units totaled 18 sales, up 50% from July 2008 with Residences at Little Nell -6, Hyatt Grand – 4, Ritz at Highlands – 3, Sanctuary & Timbers – 2, and Dancing Bear – 1.