Posted: Jun 17, 08 11:00am
First Quarter 2008 stats provided by the Rocky Mountain Resort Alliance indicate that the torrid resort real estate pace set in 2007 may have cooled off a bit – and that may be a good thing.
Some items of interest that point to this includes:
Steamboat Springs total transactions down 20%
Park City, Utah total transactions down 40%
Summit County, Colorado (Breckenridge, Silverthorne, Copper Mountain, Keystone) down 26%
Vail total transactions down 40% compared to first quarter 2007
It’s interesting to note, however, that in Vail, even though the number of transactions dropped precipitously, the average sales price in all categories of resort homes (single family, condominiums and town homes) grew from $1.25 million to $1.5 million.
Jackson Hole, Wyoming saw the average price of single family homes grow in the first quarter of this year.
The value of single family homes in Steamboat and Aspen were flat.
How is the value of your second home doing?
