Roaring Fork Valley Real Estate Market Update Summer 2014
Summer 2014 Market Commentary Overview
The market is heating up. New listings are on the rise and summer is always busiest in the real estate world. Properties are now selling in an average of 12 months down from 14 months this time last year. Below is the article put forth by Stewart Title with details. Please follow the link for comprehensive charts and statistics.
For the overall residential market (Aspen to Parachute), new listings spiked 65% over last month and exceeded the monthly average of 171 by more than 100 units mirroring the results of June, 2013. The increase resulted from a combination of factors including seasonal norms and improving market conditions. The sharp increase in listings was consistent across most municipalities. Meanwhile, sales slipped slightly in June to 113 closed units from 124 in May also reflecting a pattern seen in June of 2013.
The composite results produced a monthly list-to-sale ratio of 2.44:1 compared to 2.65:1 last year at this time and 1.88:1 YTD.
The increase in inventory moved the absorption rate to just under 12 months compared to nearly 14 months last year at this time. For complete statistics please visit the link below:
Source: AspenGlenwood Springs MLS
Source: Market Trends, LLC. Glenwood Springs VIEW©stewart.com/glenwoodsprings
To discuss current real estate trends in Aspen and the Roaring Fork Valley call Ruth Kruger at 970.404.4000 or visit our website