July 2017 Market Report

Real Estate Activity in Aspen & Snowmass
January - June 2017 versus 2016

With Q2 2017 almost behind us, there is much to talk about regarding the Aspen Real Estate Market. The number of single family homes sold jumped 193% from 15 in 2016 to 44 in 2017, sold volume increased 24% to $315,260,521 and the average single family home price in Aspen is now $7,165,012. Condo sale prices and volume are currently down year over year but only for a while....there are 12 condo sales pending with an average list price of $2,588,750. As a result, condo volume and sales price will most likely exceed last years sales price for this period. Aspen's duplex/half duplex sales are alive and well with the number of sold up 800% from 1 to 9 and average sales price up 80% from $2,125,000 to $3,833,333.

Snowmass Village's real estate market continues to evolve with the swift commencement of construction at Base Village. Condo sales continue to be a strength with number of units sold up 28% to 36 and sold volume up 18% to $24,716,892. Vacant land has also been a force in this market. The average land sale price is now $3,991,667 up 67% from the same time last year. There were a number of contemporary and newly remodeled homes in the $3-$5 million range that were listed early fall and sold quickly. I attribute the 16% decrease in average home sale prices to increased sales in this segment of the market and decreased sales in the $5-$10 million segment.

December 2016 Market Report

Real Estate Activity in Aspen & Snowmass

Year End 2015 vs 2016

  • Aspen single family home sold volume is down 56% to $311,411,425 and average sold price is down 6% to $6,639,825. Putting that in perspective, we're actually up 21% from just 3 years ago when the average price was $5,230,415.
  • Snowmass single family home sold volume increased 15% to $144,445,500 while average sold price remained unchanged at $4,012,375.
  • Condo sold volume in Aspen was down 35% to $139,219,402 and average sold price was down 7% to $1,406,257. While Snowmass showed a 2% increase in average sold price to $698,690 and a volume decrease of 9% to $44,716,175. 
  • One sector of the market that experienced an increase in both sold volume and average sold price was the Aspen townhome market with sold volume up 5% and sold price up 10% to $3,375,095. I attribute this increase due to buyers wanting size but not the maintenance a single family home requires.

Single Family Homes

Jan - Dec 2015 vs 2016

Condos

Jan - Dec 2015 vs 2016