Garfield County joined the billionaires club in 2006 as the volume of all real estate sales in the county topped $1 billion for the first time last year. The $1.04 billion in total sales for 2006 was an increase of 22 percent over the 2005 mark and growth of 137 percent from 2003.
The oil and gas boom in western Garfield County is driving the real estate development boom in western Garfield County. An estimated $75 million of the $1 billion in commercial and residential sales in Garfield County occurred in Rifle last year.
Meanwhile, Pitkin County has remained above the $1 billion level in annual sales volume for each of the last four years. Sales volume topped $2 billion in 2005 and soared to $2.64 billion last year.