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

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.

Month to Month Comparison  By Total Dollar Volume Thru July 2009

Provided by Land Title

EAGLE COUNTY

Includes most of Basalt and El Jebel (locally)
Includes Vail, Avon, Beaver Creek

December and Year End 2009 Opinion: Real estate in Eagle County ended the year with December sales of $86,926,716 in dollar volume and 95 transactions. December finished above the rest of the year’s monthly sales volume average of approximately $75 million and 78 transactions per month.The year-end total for 2009 is 938 transactions and $898,444,183 in dollar volume . It was the first year since 1996 that we did not surpass $1 billion in sales. Beaver Creek ended the year as the area with the highest dollar volume $106,585,900. Eagle had the most transactions with 135. Eagle County ranked 2nd in dollar volume for Colorado resort markets.

November, 2009 Opinion: Real estate moved through November with a relatively constant $82,428,395 in sales volume, close to the $96,167,100 of October. There were 84 transactions. Year to date for 2009, we just passed the $800 million point and year to date for 2009 we have 843 transactions. Much of the activity continued to take place down valley with 22% of the county's real estate transactions transpiring in Eagle and Gypsum.

October, 2009 Opinion: Eagle County real estate saw triple-digit transactions for the second straight month. There were 106 transactions in October and this combined with a dollar volume of over $96 million, produced the 2nd best month in real estate this year. There were two transactions that sold for over $6 million, both in Vail Village - a single family home sold for $7.6 million, and a condo sold for $6.45 million.

September, 2009 Opinion:The end of the 3 rd quarter supplied us with the best month in both transaction numbers and dollar volume since 2008. September had $100,847,572 in volume and 123 transactions creating an average sales price of $819,899. Seventy-five percent of the transactions were for property that sold for less than $1 million and 42% of the dollar volume was under the $1 million mark. Eagle continues to be the most active area in Eagle County with 17 transactions in September, while Arrowhead had the highest dollar volume with more than $11 million. Locally, Basalt/El Jebel had a total dollar volume of $4,825,100 with 9 transactions.

July, 2009 Opinion: Real estate sales and transactions in Eagle County for July remain steady. There were 75 transactions and over $60 million in dollar volume, bringing in the third most productive month thus far this year. On the high-end, the highest sale was in Arrowhead, selling for $3.5 million. Locally in Basalt and El Jebel, there were $6,938,300 in sales with 10 transactions. The Basalt sales accounted for 11.54% of total sales in Eagle County which was the second highest below Arrowhead. $21,200,000 - The highest priced transaction year-to-date. 10.76% - Average annual appreciation of Eagle County real estate since 1987. $1,022,583 - Average price year-to-date in Eagle County real estate in 2009

June, 2009 Opinion: Eagle County's real estate market continues to improve. There were over $95 million in sales volume for the month of June, making it the best month of the year for the second straight month. June had 78 transactions, again putting June among the top 2 months year-to-date for activity. The average sale price is just over $1.2 million. Overall, Eagle County's transactions are down 54% and dollar volume is off by 64%. Locally, in Basalt and El Jebel, there were $3,025,100 in sales and 5 transactions.

May, 2009 Opinion: May shows increase in sales and transactions. May had 30% more transactions than our previous best month this year and the dollar volume showed an increase of 16%. 79 transactions were closed in May  with a total sales volume of $70,751,600. Locally in Basalt and El Jebel, there were sales of $4,758,500 and 13 transactions.

Month to Month Comparison  By Total Dollar Volume Thru July 2009

Provided by Land Title

Month

2006

% of Previous Year

2007

% of Previous Year

2008

% of Previous Year

2009

% of Previous Year

January

$138,340,500

104%

$173,416,500

125%

$124,253,400

72%

$40,487,500

33%

February

$149,697,700

87%

$253,057,700

169%

$207,081,600

82%

$56,760,800

27%

March

$238,965,700

118%

$266,688,300

112%

$228,388,700

86%

$59,372,400

26%

April

$183,511,300

81%

$233,926,100

127%

$137,700,500

59%

$57,947,000

42%

May

$257,872,000

122%

$301,894,600

117%

$158,543,900

53%

$70,751,600

45%

June

$277,390,500

101%

$332,660,200

120%

$188,121,300

57%

$95,286,400

51%

July

$214,424,600

98%

$190,341,400

89%

$243,432,100

128%

$59,677,500

25%

August

$258,099,400

110%

$313,687,200

122%

$211,288,800

67%

$91,791,200

43%

September

$259,621,200

91%

$260,515,200

100%

$169,448,700

65%

$100,847,572

60%

October

$228,350,800

88%

$215,096,100

94%

$167,365,200

78%

$96,167,100

57%

November

$298,677,400

83%

$216,475,200

72%

$174,144,400

80%

$82,428,395

47%

December

$249,220,500

112%

$202,738,700

81%

$225,150,500

111%

$86,926,716

39%

Year End Total

$2,754,171,600

98%

$2,960,497,200

107%

$2,234,919,100

75%

$898,444,183

40%

Month to Month Comparison By Number of Transactions

Provided by Land Title