April Market Snapshots - Chris Klug Properties

We are pleased to share our Klug Properties April 2024 Market Snapshots with you. Below are 12 key takeaways regarding past and current market activity. Below the takeaways are in-depth statistics on the Aspen and Snowmass markets. Let us know if you would like to discuss.

1) Aspen single-family and condo sold volumes were both up significantly (~65%) from April 2023. Keep in mind that three April closings made up almost $250 million in single-family sold volume. Without these three sales, the single-family sold volume is nearly the same as in 2023.

2) Aspen’s single-family average sold price YTD through April 30, 2024, was $24.3 million, thanks to three sales in April of over $50 million including the highest sale in Aspen’s history at $108 million on lower Red Mountain.

3) The average sold $/SF for Aspen single-family homes increased 26% to $3,558.

4) Aspen Condo sold volume was up 74% whereas pricing was somewhat flat compared to the first 4 months of ‘23.

5) Snowmass Village single-family homes saw modest increases in volume and transactions due to a lack of inventory, but also flatter appreciation.

6) Snowmass Village condo sold volume and transactions were down due to far fewer EPL closings this spring, while prices increased.

7) The high-end continues to drive the market with 29 ten million + sales in 2024 versus 23 last year, a 26% jump.

8) The ultra-high-end saw 10 twenty million + sales close through April compared to 7 last year, a 43% increase.

9) Inventory of all whole ownership free market property types increased in Aspen by 23% from last year while it decreased by 21% in Snowmass Village.

10) Inventory from Aspen to Old Snowmass of all whole ownership free market property types increased 14.5% but is still down 47% from April 2020.

11) 26 Aspen properties were pending sale at the end of April ‘24 totaling $267 million compared to 14 last year totaling $143 million – which suggests a stronger Q2 ahead.

12) 77 Snowmass Village properties were pending sale at the end of April ’24 totaling $420 million compared to 65 last year totaling $240 million. Strong sales ahead when Aura and Cirque close next year.