Released online 07.18.24 v2.92
Executive Summary
Current Market Overview – Unit Sales: In H1 2024 , Aspen unit sales increased 24% over H1 2023, while Snowmass decreased 25% due to a pause in new condo construction offerings. Unit sales are a better measure of market activity than dollar sales as they are not skewed by extreme valued sales. Prices are at record highs due to continued low inventory levels, which, although slightly improved remain at near historic lows reflecting a steady decline in available properties since 2005 (Pg 20).
Pricing Strategies and Market Dynamics: Sellers, emboldened by ongoing high demand and buoyed by record-setting financial markets (the DJIA recently passing 4,000), are testing the market with a number of listings priced up to 10-15% above recent comparables. As a symptom of this pricing strategy, the price differential between initial listing and selling prices is widening. What formerly was the frequent 3-5% discount from ask is now 5-10%, sometimes more.
Read more: Link to download report PDF is on the right side of this page.
The Estin Report: H1 2024 Aspen Snowmass Real Estate Market is a 32-pg bi-annual report. The print edition will be available late July in racks around Aspen and the Snowmass Village Center, at Sotheby’s offices at 300 S Spring St (my office across from the Art Museum), 415 Hyman Ave and the Pitkin County/ASE baggage area magazine kiosk.
