April 2023 Market Snapshots
Please find our most notable takeaways from April and all market snapshots below.
1) While Aspen single-family (SF) sold vol. is down 22%, transactions look very similar from a year ago, and avg. sold price and avg. sold $/SF are down 10-20%.
2) Aspen condo sold vol. and transactions are both down 46% and 40% respectively with avg. sold price down 10% and avg. sold $/SF slightly up.
3) Snowmass Village (SMV) SF sold vol. and transactions are down almost 50% with pricing looking very similar to last year at this time. April was also particularly weak for SMV SF sales with sold vol. down 45% and transactions down 65%.
4) Snowmass Village condos are seeing 100% + increase in vol. and # of sales as a result of EPL and Haven’s ’23 closings. April SMV condo vol. alone was up 452% and transactions increased 358%. Remove new EW product sales and SMV condo transactions are down YTD 33% and vol. 61% for SMV condos.
5) Basalt SF and condo #’s are all stronger in ’23 with the exception of # of condos - as a result of some more inventory.
6) Upper RFV inventory Aspen - Old Snowmass increased 87%. 109% overall in Aspen, 82% in SMV, and 23% in Basalt. Historically inventory is still low in upper RVF down 3.5% from ’21, 54% from ’20 and 60% from ’19.
7) Pending Vol. in upper RFV is down 32% YTD compared to April ’22.