SNOWMASS VILLAGE — Sales tax revenue was down 5.6 percent in November over the
same month the year before, according to a report from the Snowmass Village
Finance Department.
Erik Cavarra still sees an increase in Sales Activity over the past year…More sales are taking place and the inventory levels are maintaining. As an example, it is difficult to find an ideal match for properties within the $3m – $5m price point. We are working with a client who was interested in purchasing a home in Horse Ranch. The Home was listed for sale, and then had multiple Bids within 1 week on the market. The home ended up transacting to the Highest & Best Bid scenario, which doesn’t necessarily benefit the Buyer and was rarely seen in Snowmass since the 2008 period or term. We are in a position to see an increase in the Market and there seems to be more demand and less supply in certain cases and certain relatvie price points.
With only December revenues left to report, that
puts revenue in 2012 at 6.18 percent over the year before. November was
Snowmass’ first month since March to see a drop in sales.
Lodging was
down 4.04 percent, restaurants 20.4 percent, sports equipment and clothing down
40 percent, food, drug and liquor stores 8.2 percent, and utilities 1.4 percent.
General retail saw an increase of 12.7 percent in sales this November.
As of November, lodging had brought in the most revenue in 2012,
accounting for 40.1 percent of sales. However, in November, the industry with
the biggest portion of sales was utilities at 32.4 percent.
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