More Real Estate Sales, Less Volume in 2013 Pitkin County

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The number of real estate sales are up in Pitkin County, compared to a year ago, but the total volume in dollars is down, according to the Aspen Business Journal. A flurry of high-end sales at the end of 2012 boosted the year’s total to make it the second highest grossing year since 2007, but a sluggish start in 2013 for high-end property indicates that the market for homes $5 million and up may be slowing.

The only property currently listed above $10 million in Pitkin County is Wildcat Ranch, nestled on 500 acres.
The only property currently under contract above $10 million in Pitkin County is Wildcat Ranch, nestled on 500 acres.

In January, the number of sales were up 7 percent, but the dollar volume was down 17 percent, according to the article. There were 28 residential sales; 12 were under $1 million and only one was above $5 million. The trend continued in February, during which the number of sales was up 20 percent while dollar volume was down 28 percent. A local broker says it’s not uncommon to have less high-end sales in the beginning of the year, and that record tracks with previous years in Pitkin County. In addition, the end of 2012 saw more sales because of the looming capital gains tax.

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