2008 Real Estate Resort Market 2008 sales data has just been released by the Rocky Mountain Resort Alliance with not so surprising results.
The Rocky Mountain Resort Alliance consists of Aspen, Whistler, Park City, Steamboat Springs, Summit Co., Sun Valley, Telluride, Jackson Hole, Vail, McCall, Idaho, Grand Co. and the Lake Tahoe region. The Rocky Mountain Resort Alliance is composed of boards of REALTORS of destination ski resorts in the Rocky Mountain West. The alliance was formed in January of 1996.
As mentioned above the market updates from all of these locations slow a dramatic decrease in activity. All of the “Statistics” compare year end totals from 2008 to 2007. Active listings have increased in all locations with the exceptions being Sun Valley (-10.5%) and Vail (-25%).
The number of “units” which include Homes, Condos, Land and Other, decreased in every market. As we will see in a pattern the best performing market was Vail, Colorado with only a 10% decrease in transactions with strength in land and “other” sales. The worst performing market in transactions was Steamboat Springs with 57.3% decrease. The other results – Aspen (-55%), Whistler (-39%), Park City (-45.3%), Summit County (-45.3%), Sun Valley (-46.7%), Telluride (-50%), Jackson (-51%) and Grand County (-33.6%). Notable transaction numbers include a (-92%) decrease in land transactions in Aspen, a (-65%) decrease in Home sales in Telluride and a (-65%) decrease in Condo sales in Streamboat.
As for Total Multiple Listing Service sales volume numbers, the strength again was in Vail with only a 24.3% decrease in dollar volume to a total of almost $2 billion! Seeing the largest drop in sales volume was Telluride with a 56.6% decrease to a total of $225 million. The strongest change in sales volume came from Jackson Hole where the commercial segment saw an 84% increase.
When looking at all the markets Vail is by far the largest with total sales volume of $2 billion and the smallest being the McCall, Idaho market with $100 million in sales. Totals include: Aspen – $917.75 million, Whistler – $400 million, Park City – $1 billion, Steamboat $455 million, Summit County – $800 million, Sun Valley – almost $300 million, Telluride – 225 million, Jackson Hole – $525 million, Grand County – $261 million, and Tahoe – 734 million.
Hope you find this information interesting and for additional statistics feel free to email or call us at 877-739-8056. You may also visit the Jackson Hole Experts website for additional information including our latest Top Values!