August 2024 Market Snapshots

Published: 9/12/2024

August 2024 Market Snapshot Summary

Aspen:

1. The current year's sales volume and pricing for single-family homes in Aspen are higher compared to the previous year, but the number of transactions has decreased.
2. The year-to-date sales volume for Aspen condos has increased, as well as the number of transactions and the price per square foot, while the average sold price has decreased.
3. In August 2024, there were fewer sales of Aspen single-family homes and condos compared to August 2023, but prices have shown strength.
4. The inventory of all whole ownership, free market properties in Aspen has increased by 24% year over year.
5. Pending transactions in Aspen have increased by 20% compared to a year ago, with pending sales volume up by 8.5%.

Snowmass Village:

1. The real estate market in Snowmass Village is performing well compared to last year. Single-family home sales, transactions, and pricing have all increased.
2. However, the condo market has seen a decrease in both sales volume and transactions compared to last year, even though pricing has gone up.
3. August 2024 was slower than August 2023 for both single-family homes and condos.
4. The inventory of all free-market properties in Snowmass Village has decreased by 7.5% compared to last year.
5. Pending transactions are up 19% from a year ago, with pending sales volume increasing by 85%.

Ultra Luxury:

1. The sales of properties valued at $10 million+ and $20 million+ in Aspen and Snowmass are slightly below the pace of last year.
2. The recent sale of 720 Willoughby Way on Lower Red Mountain for $60 million brings the total number of sales over $50 million in 2024 to 4, compared to 2 in 2023.