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The residential market is still showing signs of slowing, the total amount of homes sold slid by 25% to only 3,737.  The average sold price of residential homes feel 6% to $278,615 from $329,783 last month.

In the condominium market we only saw a total of 3,453 properties go under contract almost 20% less then last month.  Only 2,928 solds a 25% decrease from last month. 

As we head deeper into the winter months the market begins to slow and it becomes a great opportunity for anyone look for a home.  Search for

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Recently, I discussed how the real estate slump has had little effect on the second home market in Colorado.  At the end of September, the Denver Post ran an article that supports this theory: The real estate market in Aspen is still going strong!

The gist of the article is that although real estate sales in Colorado’s Pitkin County fell a little bit in August, the sales for the year is still up from last year.  If that doesn’t sound promising enough for you, note also that 2006 was a record-breaking year, totaling $2.64 in real estate sales.  Sales for 2007 seem to be poised to set a new record.

The article also indicates that Pitkin County’s neighbor, Garfield County, has experienced a rise in real estate sales: Garfield’s August 2007 sales beat out the August 2006 sales by 30 percent.  Needless to say, that’s quite an increase for a country that is supposedly suffering a devastating housing market slump!

As you can see, the real estate slump depends mostly on where you stand.  From the point of view of Colorado mountain counties such as Pitkin and Garfield, the market looks pretty darn good right now!

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Winter is on its way!

In the residential market there was 23,229 active listings, a 2.59% increase from last month, and 0.33% decrease from last year.  With summer coming to an end the market is showing signs of slowing, with only 4,185 under contract, almost an 11% decrease from July.  The average days on market increased 2% to 92 days, while the average sold price increased to $329,783.

In the condominium market we can really see things starting to slow.  Properties under contract fell to only 1,140 a 9% decrease from last month and a 4% decrease from last year.  There were only 1,067 sales, with the average sales price falling 5% to $182,741.

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