The graph above illustrates continued decline in 2009 4th Quarter real estate sales compared to 4th quarter sales in previous years in the western ski towns of Aspen, Winter Park, Whistler, Park City, Steamboat, Breckenridge, Copper Mountain, Keystone, Sun Valley, Telluride, Jackson Hole, Lake Tahoe, Crested Butte and Big Sky.
The ski real estate second home industry has been hit hard by the recession where over two thirds of the number of transactions that took place in 2006 did not happen in 2009. Similar is true with trending dollar volume. The devastating effects have crumpled the economy of major ski resort towns and eroded the local populations.
Never before has there been a three year downturn in the second home marketplace for so many major ski resort areas. These micro-economies rely heavily on local and second home sales to sustain the towns and the locals that provide the resort services in these communities.
2009 Ski Resort Real Estate Sales marked the worst period in over twenty years. However, this may be a good sign especially if you are a buyer that has been waiting for the right time to purchase property in the mountains. Real Estate in ski towns may face challenges in the upcoming year, but rest assured that most of this property is still a very limited commodity when considering ski in ski out locations.
2008 Ski Resort Real Estate Sales are attached so you can compare the two years ski market by ski market.
The major western ski resort areas included in this report are: Aspen, Winter Park, Whistler, Park City, Steamboat, Breckenridge, Copper Mountain, Keystone, Sun Valley, Telluride, Jackson Hole, Sun Valley, Lake Tahoe, Crested Butte and Big Sky. |
