Excerpt from: Ski Resort Market Trends and Statistics
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| May 19, 2009 | | The 2009 RMRA high country real estate sales volume statistics now available and it isn't pretty! | So, if there was any question in 2008 about what would happen in resort and second home areas throughout the western mountains, first quarter results tell a shocking tale of inactivity in real estate sales volume in 2009. Real Estate sales are at an all time low for almost every ski resort market area surveyed by the Rocky Moutain Resort Alliance (RMRA). Here are some of the results from RMRA for the combined number of homes and condominium sales in the first quarter of 2008 vs 2009: - Park City, Utah: 2008 - 931 2009 - 129
- Whistler, B.C.: 2008 - 420 2009 - 39
- Steamboat, CO: 2008 - 337 2009 - 40
- Summit Co, CO: 2008 - 1217 2009 - 111
- Grand Co, CO: 2008 - 391 2009 - 51
- Sun Valley, ID: 2008 - 262 2009 - 35
- Telluride, CO: 2008 - 230 2009 - 11
- Vail Valley, CO: 2008 - 1158 2009 - 83
- Teton Co, WY: 2008 - 230 2009 - 11
- Tahoe Sierra, CA: 2008 - 828 2009 - 118
- McCall, ID: 2008 - 277 2009 - 0 (really)
Aspen did not report the first quarter of 2009 so I'll update this post if it changes. The only good news in high country real estate that although prices are decreasing, they are not going down as much as most areas of the country. In fact, some ski resort market areas have shown an Average Sales Price increase in either their condominium or home sales. However, I typically don't put much stock in the Average Sales Price because mountain homes and condominium tend to have a great deal of diversity all located within a small geographic region. A great example of this is the severe price discrepancy between ski in and ski out property and those properties that are past walking distance to the lifts. | | |
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