Snowmass Single-family Update March 6, 2020

It has been a slower start to 2020 for the Snowmass Village single-family market with only one single-family sale so far this year at 150 Baby Doe, a Sweeney Redevelopment, that sold this week for $7,050,000, $1,373 sold $/SF after 235 days on market. There are currently 72 active single-family listings in Snowmass Village available today. Two homes are pending sale at 462 Maple Ridge Ln. asking $2,575,000 and 432 Fairway Drive at $1,995,000. We just put 776Divide.com under contract as well, which makes three. Unfortunately, our WildridgeSnowmass.com property at 104 Wildridge fell out of contract earlier this week. We’ve been showing it multiple times a day; I’m confident we will get it back under contract soon and sold this spring. The entry level below $3 million single-family market remains the most active in Snowmass Village with locals moving up the market and second home owners needing more space and wanting to spend more time in Snowmass Village, perhaps upgrading from a condo.

Forty-five single-family homes sold in Snowmass Village the past year at an average sold price of $3,869,057, 91% sale/list, $909 avg. sold $/SF and 403 ADOM. There is currently a 19.2-month supply of single-family inventory in Snowmass Village. Over $4 million there are 47 active listings with only one pending sale. Twenty homes over $4 million sold in Snowmass Village the past year. There’s a 28-month supply of $4 million plus priced product in Snowmass Village today. Lots of options for buyers today! With all of the investment at Base Village, and the future of the Town Center and the Snowmass Club I’m very bullish on the future of Snowmass Village. I think part of the problem is that a lot of the existing inventory is dated. There are only three completed homes available today built after 2015. Our 1627WoodRoad.com and 353Terrace.com sales support that new contemporary product that checks all of the boxes is moving in Snowmass Village.

With an average single-family home price in Aspen of $7.523 million today, Snowmass represents a great value at almost half the average sold price. The future is bright and there’s lots of great options, especially if you’re not afraid of a remodel. There’s no more vibrant neighborhood than Melton Ranch I, II and III and Wildridge and Fairway Drive. If you’re looking for a ski-in/ski-out single-family property, of which there’s not a lot in Aspen - outside of Highlands, Snowmass offers some great opportunities. Call or email today if you’d like to go take a look at a few of our favorites.