September News

Yes, it's snowing. Every year at this time it snows for a day or two and then it becomes sunny and warm again for a few more weeks. Yet, even locals who have lived here for decades still think this means the end of summer and that we're going directly into winter. Although we had record snow the last two winters, the mountain did not accumulate snow until late November. Two seasons ago it was in the 50's most of that month and we all thought ski season would never come - then, starting December 1st is snowed for 6 weeks straight. So don't let the current weather scare you away from coming to the mountains for a look at the beautiful fall colors. They should peak sometime in mid-October.

Now that it's quiet in town, I thought this would be a good time to reflect on this summer's real estate activity.

Here is a summary of the information:

June

• Month to Month Dollar Volume Comparison: June 2009 was down 49% from June 2008 which was down 43% from June 2007.
• Month by Month Transaction Numbers: June 2009 was down 55% from 2008 which was down 40% of 2007.
• The majority of sales (51% of the total) in June were homes under $500,000. This has been the case for decades and is not likely to change. The average sales price in June was $1,223,000 for all transactions.
• Total Dollar Volume: $95M/Total Number of Transactions: 78

• Month to Month Dollar Volume Comparison: July 2009 was down 75% from July 2008 which was actually ahead of the same month in 2007 by 28%! Although this looks odd, it is because the new Arrabelle at Vail in Lionshead had just completed and all the closings took place around that month.
• Month to Month Transaction Numbers: July 2009 was down 52% from July 2008 which was down 33% of July 2007.
• Similar to June (or any month of the year for that matter) most sales took place under $500,000. Average sales price for July was the same as June.
• Total Dollar Volume: $60M/Total Number of Transactions: 75

• Month to Month Dollar Volume Comparison: August 2009 was down 46% of August 2008 which was down 33% of August 2007.
• Month to Month Transaction Numbers: August 2009 was almost identical to August 2008 but August 2008 was down 39% from August 2007.
• Once again, under $500,000 was where most transactions took place. Average sales price for August was same as June/July.
• Total Dollar Volume: $91M/Total Number of Transactions: 101