Fourth Quarter Market Report 2019

Happy New Year from Aspen! I hope you had a wonderful holiday and are off to a great start to 2020. I’m excited to share my 2019 Aspen Snowmass Market Summary with you. Overall 2019 was a strong year for Aspen Snowmass Real Estate; I’ve got lots of positive numbers to report! Dollar volume for single-family homes in Aspen increased almost 37% from 2018 while average sold price went up by almost a million dollars to $7.589 million, only second to 2017. There were 19% more single-family transactions in 2019. Average sold $/SF increased as well from $1,463 to $1,481 a sq. ft. for Aspen single-family homes. There were 27 sales in Aspen over $10 million compared to 19 last year and four $20 million plus Aspen sales versus just one in 2018. December activity was strong for Aspen single-family homes with 8 transactions totaling $64.6 million. Average days on market for Aspen single-family homes at 304 days was about the same as in 2018 at 294 days. Remember we have a very pronounced off-season in spring and fall when the lifts close and before they fire up again and an active summer and winter selling season – it’s the cyclic nature of our destination resort tourism economy. Aspen single-family inventory stayed virtually the same the last three years with 144 homes listed at the end of 2019 compared to 146 in 2018 and 2017. There’s about a 1-year supply of Aspen single-family inventory priced below $10 million, a 3-year supply over $10 million, and a 6.5-year supply over $20 million today.