Happy fall season from Aspen Snowmass! The colors are at their peak in the high country and the trails are empty and covered in orange, red and yellow; it’s a magical time of the year. We’re loving the prolonged Indian Summer! After two and a half years of unprecedented Covid fueled activity, our market seems to be somewhat normalizing. Inventory of all whole ownership, free market property types in the upper Roaring Fork Valley from Aspen to Old Snowmass has almost doubled from 188 properties l
Happy fall season from Aspen Snowmass! The colors are at their peak in the high country and the trails are empty and covered in orange, red and yellow; it’s a magical time of the year. We’re loving the prolonged Indian Summer!
After two and a half years of unprecedented Covid fueled activity, our market seems to be somewhat normalizing. Inventory of all whole ownership, free market property types in the upper Roaring Fork Valley from Aspen to Old Snowmass has almost doubled from 188 properties last year to 303 today. However, this still represents a very low supply compared to 472 properties in September of ’20 and 681 properties in Sept. ’19. Inventory in Aspen of all whole ownership, free market property types doubled in the last year from 89 properties a year ago to 137 today, but again well below the 244 in Sept. ’20, 280 in Sept. ’19, and 312 in Sept. ’18. Same inventory story in Snowmass Village with 65 properties today compared to 34 a year ago, 128 in ’20, 218 in ’19, and 208 in Sept. ’18.
While buyers are gaining a little more leverage with increased days on market, inventory on the rise, higher interest rates, and more price reductions, this is still a strong seller’s market, and in the context of the past decade, excluding 2020 and 2021, another very strong year. While inventory is on the rise, there aren’t that many properties that check all the boxes; the ones that do are still getting serious interest if priced correctly. Lower sold volume overall with less transactions, but higher sales numbers seem to be the current trend. The sky is not falling! Covid only made Aspen and the greater Roaring Fork Valley even more attractive. This is one of the great places on earth. Like Warren Miller says, “If you don’t start this year, you’ll be a year older when you do!” Aspen Snowmass real estate still looks like a great long-term play with the what’s going on in the world, especially if you consider the quality of life, access, and cultural and culinary opportunities. Enjoy this magical time of the year! Call or email anytime if we can be of help in anyway, or if you would like a complimentary in-depth analysis of your property’s value in this changing market. Snow will be flying again in a month. Off-season is delayed with the peak fall colors, but I suspect it will get pretty quiet in the coming weeks before the lifts start spinning again. Enjoy the off-season. I hope to see you soon!
Chris Klug
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