Released Sep 15, 2017 v2.2
August 2017
Aspen and Snowmass Village
Real Estate Snapshot
(Click link above for full 10 Pg PDF
with detailed charts and tables for Aspen and Snowmass Village
sales and sales by neighborhoods.)
Bottom Line
The Aspen real estate market is cruising along in overdrive. August is traditionally a very active period for sales, and this August more so than ever. Sales at all prices points are exceedingly strong while inventory of properties for sale is declining significantly. Areas with particular sales velocity are Downtown Aspen, Red Mountain and the West End. Outlying areas are experiencing slower sales at lower prices—there’s value in them hills. There is concern the market is frothy with many asking how long can this last…Who really knows? No one. There are few variables locally that could cool this engine but some possibilities are: unforeseen macro events could change things on a dime; a declining inventory of property offerings could turn buyers away due to a lack of quality choices; price gouging whereby prices become absurd and buyers revolt. We are anticipating a banner year in property sales and the results year-to-date especially in Aug. and soon-to-be Sept. confirm this.
Aspen: Sales by Neighborhood SMV: Sales by Neighborhood
August 2017 Market Stats Breakdown for Aspen Only *
Aspen condo sales August 2017
Unit Sales: +39% (25) in August ‘17 from (18) in August ‘16
Dollar Sales: +85% $62M in August ‘17 from $34M in August ‘16
Inventory Active Listings: -40% (145) in August ‘17 from (241) in August ‘16
Aspen condo sales YTD
Unit Sales: +39% (110) in August ‘17 from (79) in August ‘16
Dollar Sales: +41% $237M in August ‘17 from $169M in August ‘16
Inventory Active Listings: -15% (310) in August ‘17 from (367) in August ‘16
Aspen Single family home sales August 2016
Unit Sales: +180% (14) in August ‘17 from (5) in August ‘16
Dollar Sales: +176% $116M in August ‘17 from $42M in August ‘16
Inventory Active Listings: -15% (176) in August ‘17 from (207) in August ‘16
Aspen Single family home sales YTD
Unit Sales: +241% (75) in August ‘17 from (22) in August ‘16
Dollar Sales: +259% $547M in August ‘17 from $153M in August ‘16
Inventory Active Listings: -1% (291) in August ‘17 from (284) in August ‘16
* Typically, the Aspen market represents 70-75% of the total combined Aspen Snowmass Village real estate marketplace.
Links to August 2017 Aspen and Snowmass Village
Sold Property Photos and Details
Aspen Aug 2017 Closed Properties (39). This link is valid until 10/1/2017.
Snowmass Village Aug 2017 Closed Properties (16). This link is valid until 10/1/2017.
Vacant Lots Aug 2017 Closed Properties (2). This link is valid until 10/1/2017.
Disclaimer: The statements made in The Estin Report and on Aspen broker Tim Estin’s blog represent the opinions of the author and should not be relied upon exclusively to make real estate decisions. A potential buyer and/or seller is advised to make an independent investigation of the market and of each property before deciding to purchase or to sell. To the extent the statements made herein report facts or conclusions taken from other sources, the information is believed by the author to be reliable, however, the author makes no guarantee concerning the accuracy of the facts and conclusions reported herein. Information concerning particular real estate opportunities can be requested from Tim Estin at 970.309.6163 or by email. The Estin Report is copyrighted 2017 and all rights reserved. Use is permitted subject to the following attribution with a live link to this website: “The Estin Report by Aspen broker Tim Estin on Aspen Real Estate.”
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