Third Quarter Market Report 2020

Happy fall season from Aspen Snowmass. I hope you are doing well and staying healthy. The autumn colors have been magical the past weeks on the Western Slope of Colorado; I hope you’ve been getting out and enjoying this special time of the year. It has been an historic summer selling season in the Upper Roaring Fork Valley with record-breaking numbers. We’ve been in all-hands-on-deck mode since the end of June when a switch got flipped and our market went from zero to over one billion miles an hour. September felt like July! Aspen single-family sold volume is more than twice what it was in 2019 through September, and by far the highest we’ve ever seen through September. Average single-family sold price in Aspen of $11.26 million is as high as we’ve ever seen it as is sold $/SF of $1,839. This is driven by 56 Aspen and Snowmass single-family sales of properties priced $10 million plus compared to 20 last year, a 180% increase and 20 $20 million plus sales through September 2020 compared to four in 2019, a 400% increase. $1.17 billion sold in Aspen in just the Third Quarter of 2020 of all property types compared to $1.008 billion in all of 2019, $874 million in 2018, and $1.193 billion in all of 2017. September saw almost a 1,000% increase in dollar volume compared to 2019 while transactions were almost five times what they were last September.

I want to thank our clients and friends for the opportunity to help you all this summer. I’m very grateful for your trust and support. We’re always here to help you! I am also thankful for my team of Allie and Dylan and all of our brokers and staff at Aspen Snowmass Sotheby’s. Thank you for all of you hard work this summer getting the job done for our clients. I look forward to seeing you again this winter in Aspen and Snowmass and hopefully making some turns together! Stay healthy. Happy fall season ahead and happy sort of off-season.