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Aspen Doing Well In Down Housing Market

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(Photo by Justin Sullivan/Getty Images)

(Photo by Justin Sullivan/Getty Images)

ASPEN, Colo. (AP) – Home sales in the Aspen area are surging even though the housing market is in a slump nationwide.

Real estate officials say annual sales from 2009 and 2010 will be easily topped this year. Real estate officials say total sales topped $1 billion in October, an increase of 19 percent over the same period last year.

In September alone, 86 real estate transactions were valued at more than $137 million.

However, it isn’t all good news. According to the Aspen Daily Times, Land Title Guarantee Co.’s report noted there were 45 bank sales of property in Pitkin County for a total of $30 million through the first three quarters of 2011.

(Copyright 2011 by The Associated Press.  All Rights Reserved.)

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