Both December and January have shown falling sales numbers in the Aspen/Glenwood MLS. December '08 had 83 sales versus 81 in '09. January '09 had 108 versus a meager 67 this year.
On a more positive note, the trend of decreasing inventory has continued for the 6th straight month and while the overall supply has climbed back up to 58 months, there are more localized areas and price ranges where supply has fallen back close to what would be a balanced market (The River Valley Ranch development in Carbondale is one such example).
Traditionally the early months of the year are slow in sales and even a slight uptick in sales numbers in combination with the continuing decline in inventory would bring our overall market much closer to a balanced supply and more stable prices. In the different stages of a market, the last stage of downturn is often referred to as the "panic stage", before things start to pick-up. This is typically the time when the best deals are found, before it becomes clear that the market is recovering. It seems possible that we may be entering this stage...
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