September 2007 cumulative sales for the real estate communities decreased for the fifth time this year. The five resort real estate communities of Garfield, Pitkin, Eagle, Routt and Summit counties, appear to be catching up to national slowing trends. Total real estate sales in the five county areas saw a decrease from August 2007 by 7% or $62 million. Previously this year, February, April, June and July also experienced decreased total sales from the prior month. The consecutive year decrease from September 2006 was 4% or $37 million.

However, with three months left in 2007, Garfield County is on track to surpass the record volume of $1 billion set in 2006. Through September 2007, Garfield County had total real estate sales of $920 million, up 27% from the same time period in 2006 which totaled $727 million. Garfield County September 2007 sales reached $94 million for the month, down from $103 million the month before and the high of $157 million in July 2007. While sales in resort communities tend to have a cyclical nature, the slower pace in these communities is starting to mirror national trends at least in the slower pace of volume of transactions.

Year to date average sales prices in all five counties continue to be steady with slight increases over August 2007. Pitkin County has the highest average sales price of $4.6 million, with Garfield County having the lowest average sales price of $444,400. A 2 % and 1% increase respectively over the previous month.