Thanks to a strong December, real estate sales in Pitkin County were 17.5 percent higher in 2012 than 2011, according to an article by the Aspen Business Journal. Over the year, close to $1.5 billion in real estate changed hands.
It was the strongest December since 2007, according to the report released by Land Title Guarantee Company, with $269.7 million in sales. That’s a 247 percent increase from the same month the year prior.
It marks the third year in a row that real estate sales improved in Pitkin County, though the $1.5 billion in total sales is still below the $2 billion that was bought and sold annually between 2005 and 2007.
Though the number of transactions–749 in 2012–is actually 1 percent down from the year prior, sales of homes over $10 million, land sales, and commercial building sales drove the increase in value.
