Archive for Friday, July 10, 2009
Roaring Fork property inventory hits new level
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Aspen — The inventory of homes and condominiums on the market in the Roaring Fork Valley has hit a level rarely, if ever, matched before, according to veteran real estate agents.
About 540 single-family homes were listed for sale between Jan. 1 and July 7 in Aspen, Snowmass Village, Basalt, Carbondale and Glenwood Springs, according to research by Wendy Lucas, owner of Wendy Lucas and Co. That is a 47 percent increase from the 368 listings in same period in 2005, a strong year for the valley's market.
"It's a startling comparison," Lucas said. "People are slowly getting their confidence back, but it's slow."
The number of condos, townhouses and duplexes that have been listed for sale so far this year is up 30 percent during 2005, Lucas said. She concentrated on the major zones in the Multiple Listing Service for her research and ignored smaller geographical pockets such as Redstone.
There are 926 "active listings" of single-family homes in the valley, Lucas said. That combines the new listings from this year with homes that were listed before Jan. 1. There are 758 active listings for condos, townhouses and duplexes between Aspen and Glenwood Springs.
Lucas said she was unable to compare the number of active listings to periods in the past. However, she suspects the number is at or near a record, largely because there are more residential units in the valley than ever.
The growing inventory suggests the recovery of the market will be delayed and that there may even be more "softening" this summer, said Brent Waldron, who leads the Aspen office of Chaffin Light Real Estate.
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