Garfield, Pitkin real estate sales activity up this year
Real estate sales activity remains up this year in Garfield County and the Roaring Fork Valley through August, according to the latest monthly compilation of real estate transactions prepared by Land Title Guarantee Co. in Glenwood Springs.
During August alone, property transactions and sales volume were down about 12 percent in Garfield County compared with the same month last year, according to the report.
However, real estate sales activity in the area extending from Carbondale to Parachute/Battlement Mesa through the first eight months of the year was up on both fronts.
Through August, a total of 814 property sales had been recorded in the county, including 60 commercial properties, for an increase of 0.5 percent compared with the same eight-month period in 2013.
Transactions have accounted for about $299.5 million in total sales for that period, reflecting an increase in sales volume of 12.7 percent compared with the previous year’s totals through August, according to Land Title’s tabulation of real estate records filed with the Garfield County Clerk and Recorder’s Office.
So far this year, the average single-family home in the county has been selling for a little over $363,000, while the median price is about $286,500.
Multi-family homes, such as townhouses, duplex units and condominiums have been selling for an average price of $225,800, with a median sales price of $199,000.
Residential properties in Carbondale continue to be the most expensive in the county, ranging from an average sales price of $357,370 to $717,230, depending on the type of unit. That, compared with an average price range of $123,000 to $161,000 in Battlement Mesa.
In Glenwood Springs, the average single-family home has been selling for about $423,300 this year, while multi-family units are selling for about $204,300, on average, according to the statistics through August.
Approximately 9.5 percent of property transactions so far this year continue to be bank sales resulting from foreclosures, a number that continues to decline in the years following the downturn in the real estate market that accompanied the recession in 2008.
Meanwhile, sales in neighboring Pitkin County, where resort market real estate tends to be significantly more expensive, have also been up for the same eight-month period, according to the Land Title analysis.
Pitkin County records showed 459 transactions through August, up 9.8 percent over last year, for a total of nearly $869 million in sales, reflecting a 22 percent increase in sales volume compared to 2013 figures. The average residential sales price this year has been around $2.4 million, with a median price of $1.2 million, according to the analysis of Pitkin County sales.
Breaking out the middle Roaring Fork Valley communities of Carbondale, El Jebel and Basalt, which combines real estate records from Garfield, Eagle and Pitkin counties, year-to-date data through August was mixed.
Total transactions were down 3.7 percent in those communities for the first eight months, at 310, while sales volume was up 14.7 percent at $186.5 million.
Mid-valley transactions were down 14 percent during August alone, with 49 properties changing hands. However, the dollar amount from those sales was up 2 percent at $31 million, according to the analysis.
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