2020 Klug Properties Aspen Snowmass Market Report Summary: Happy 2021! I hope you had a great holiday and are doing well and staying healthy. As I reflect on the past year, I can’t believe what transpired in 2020. What a year it has been! Who would have imagined where the Aspen Snowmass Real Estate Market stands today looking back to mid-March when the lifts stopped spinning at Aspen Snowmass and across the State of Colorado for the season, an exodus from the upper valley ensued, and most pendin
2020 Klug Properties Aspen Snowmass Market Report Summary:
Happy 2021! I hope you had a great holiday and are doing well and staying healthy. As I reflect on the past year, I can’t believe what transpired in 2020. What a year it has been! Who would have imagined where the Aspen Snowmass Real Estate Market stands today looking back to mid-March when the lifts stopped spinning at Aspen Snowmass and across the State of Colorado for the season, an exodus from the upper valley ensued, and most pending sales imploded? All spring we were just hoping and praying we’d have a summer selling season. That all changed the end of June when it was all-hands-on-deck for six plus months which resulted in a record breaking 2020 for Roaring Fork Valley Real Estate thanks to the urban exodus and the great Covid migration of 2020. Below are some of the eye-popping takeaways from 2020:
- Pitkin County total residential sales of all whole ownership property types including vacant land and TDR’s increased from $1.56 billion in 2019 to $3.49 billon in 2020, a 123% increase.
- The average single-family home price in Aspen in 2020 was $11,128,119, a 47% increase over 2019.
- Average single-family sold $/SF in Aspen was $1,840 versus $1,481 in 2019, a 24% increase.
- 90 sales closed in 2020 above $10 mill. compared to 27 in 2019, a 233% increase.
- 23 sales were over $20 million in the upper valley compared to only four in 2019, a 475% increase.
- The supply of Aspen single-family homes decreased 33%
- Inventory of Aspen single-family vacant lots decreased 45%
- The average single-family home price in Snowmass Village increased 7.6%
- Snowmass Village single-family inventory is down 53%
- Snowmass Village condo sold volume nearly doubled
- 43% drop in supply of Snowmass Village condos
- Basalt average single-family home price increased 17%
- Basalt single-family inventory is down 61%
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