Laserfiche WebLink
Mid—Continent Resources <br /> May 19, 1988 <br /> Page — 3 — <br /> The third area is the Garfield County portion of the Roaring Fork Valley <br /> economic area which extends from the world famous ski areas in Aspen and <br /> Snowmass, on the south, northerly to the confluence of the Roaring Fork River <br /> with the Colorado River in Glenwood Springs, Colorado. The economics of this <br /> area are heavily influenced by the Aspen—Snowmass ski industry together with <br /> the large outdoor year—round swimming pool in Glenwood Springs. The <br /> Sunlight ski area, located ten miles southwesterly of the City of Glenwood <br /> Springs, is of secondary ski industry importance. The Frying Pan River and <br /> Crystal River Drainages, which are tributary to the Roaring Fork River, <br /> together with the White River National Forest and other mountain topography, <br /> contribute to the tourist industry. <br /> The 1980's brought moderately declining values throughout Colorado's western <br /> slope area primarily in developed properties. As compared to the middle Rifle <br /> area, however, the regional declines are moderate. The Roaring Fork Valley <br /> has a high ratio of Government owned land in the form of BLM and National <br /> Forest lands. This factor, together with topographic constraints, severely <br /> limit the land available for development. The oversupply of developed <br /> properties is moderate to stable. In contrast, the Rifle area with its large <br /> agricultural areas has a significantly higher ratio and quantity of privately <br /> owned lands that are physically suitable for development. However, excepting <br /> the energy fueled boom, growth and population increases have historically <br /> been very moderate. <br /> The above discussion is graphically depicted in the following graph. The graph <br /> depicts average residential sales price for the time period 1979 thru 1987 <br /> covering the Roaring Fork or third area, the Rifle or central area, and Garfield <br /> County as a whole. The data was derived from MLS statistics. <br /> 100000 <br /> Average Residential Price <br /> 90000 <br /> 80000 Roaring Fork <br /> 70000 <br /> Garfield Co. <br /> 60000 <br /> 50000 <br /> Rifle <br /> 1978 1980 1982 1984 1986 1968 <br /> Applegate & Co. Real EstateAppraisers <br />