Released June 30, 2020 v3.0

Last week was another huge week of sales activity for Aspen Snowmass real estate market as the local opening up from Covid-19 restrictions has unleashed a wave of pent-up demand… (17) properties went under contract last week and the 3-week June total of these pending sales is (52) properties at a total ask price value of $247MM. This includes a brand new home on Placer Ln on Red Mountain at $33.5M/$3,345 sq ft ask, (4) priced between $11M-$25M ask and (11) at prices over $2,000 sq ft ask.  In a clear departure  from the Aspen-centric sales pattern that has dominated our local sales of the past few years, in June, properties have gone under contract throughout the entire upper Roaring Fork Valley. There were  (27) in Aspen, (17) in Snowmass village, (3) in Woody Creek (3) and (5) in Old Snowmass. Buyers say they’re are looking for acreage and space…a clear indication that the geographic rings of interest have finally expanded outwards beyond Aspen.

Why…what’s happening? Call it the Great Urban Exodus – people fed-up with big city living. The impetus may well be historic low interest rates – money is dirt cheap, then add Covid-19 and violence in the streets and buyers are saying, “Enough, I’m done thinking about moving to Aspen, we’re doing it, going.” People have learned they can work from anywhere, clients understand it. There’s a new-found comfort level that business can be done from anywhere.

Buyers want to move here for longer durations or full-time, get their kids into the schools and they appear willing to pay up although there have been discounts at 10-30% off ask of big ticket properties over $15M.  At Aspen Country Day School, anecdotally, there are 40-50 new applications  and consequently the school is  increasing enrollment;  Maroon Creek Club memberships…13 new applicants for just 5 membership slots and tennis memberships are oversold.

Aspen Only:  June 2020 Market Statistics Summary

Aspen condo sales June 2020

  • Unit Sales: -25% (6) in Jun ‘20 from (8) in Jun ‘19
  • Dollar Sales: +31% $26M in Jun ‘20 from $20M in Jun ‘19
  • Inventory Active Listings: -6% (121) in Jun ‘20 from (129) in Jun ‘19

Aspen condo sales YTD

  • Unit Sales: -47% (39) in Jun ‘20 from (73) in Jun ‘19
  • Dollar Sales: +7% $176M in Jun ‘20 from $164M in Jun ‘19
  • Inventory Active Listings: -18% (179) in Jun ‘20 from (220) in Jun ‘19

Aspen Single family home sales June 2020

  • Unit Sales: +0% (6) in Jun ‘20 from (6) in Jun ‘19
  • Dollar Sales: +30% $59M in Jun ‘20 from $45M in Jun ‘19
  • Inventory Active Listings: -14% (146) in Jun ‘20 from (169) in Jun ‘19

Aspen Single family home sales YTD

  • Unit Sales: -30% (28) in Jun ‘20 from (40) in Jun ‘19
  • Dollar Sales: -33% $235M in Jun ‘20 from $349M in Jun ‘19
  • Inventory Active Listings: -10% (210) in Jun ‘20 from (234) in Jun ‘19

*Typically, the Aspen market represents 70-75% of the total combined Aspen Snowmass Village real estate marketplace.

Outliers: in June 2020, the following properties were included in total dollar and unit sales but removed from specific property type and neighborhood averages (Pgs 7 & 9) as outliers: Dancing Bear Penthouse sold at $18.3M/$6,087 Sq Ft; Henry Ranch in Old Snowmass sold at $3.5M/$359 Sq Ft for a 97,00 sf main house, multiple outbuildings and 32 acres – an unbelievable deal; and Old Snowmass Gateway 7846 Light Hill Rd which sold at $825,000/$323 Sq Ft.

Snowmass Village Only:  June 2020 Market Statistics Summary

Snowmass Village condo sales June 2020

  • Unit Sales: -14% (6) in Jun ‘20 from (7) in Jun ‘19
  • Dollar Sales: -42% $5M in Jun ‘20 from $9M in Jun ‘19
  • Inventory Active Listings: -5% (142) in Jun ‘20 from (150) in Jun ‘19

Snowmass Village condo sales YTD

  • Unit Sales: -26% (48) in Jun ‘20 from (65) in Jun ‘19
  • Dollar Sales: -5% $65M in Jun ‘20 from $69M in Jun ‘19
  • Inventory Active Listings: -17% (213) in Jun ‘20 from (258) in Jun ‘19

Snowmass Village Single family home sales June 2020

  • Unit Sales: -60% (2) in Jun ‘20 from (5) in Jun ‘19
  • Dollar Sales: -69% $5M in Jun ‘20 from $16M in Jun ‘19
  • Inventory Active Listings: -28% (55) in Jun ‘20 from (76) in Jun ‘19

Snowmass Village Single family home sales YTD

  • Unit Sales: -60% (8) in Jun ‘20 from (20) in Jun ‘19
  • Dollar Sales: -72% $24M in Jun ‘20 from $84M in Jun ‘19
  • Inventory Active Listings: -28% (88) in Jun ‘20 from (123) in Jun ‘19

* Typically, the Snowmass Village  market represents 25-30% of the total combined Aspen Snowmass Village real estate marketplace.

Links to June 2020 Aspen and Snowmass Village Sold Property Photos and Details

Aspen Jun 2020 Closed Properties (11).   This link is valid until 7/31/2020.

Snowmass Village Jun 2020 Closed Properties (8). This link is valid until 7/31/2020.