Aspen Snowmass Sotheby’s broker Tim Estin works in the local Aspen real estate market and is seeing the “Great Urban Exodus” unfold in the current real estate market. There’s been a perfect storm of events over the past few months that has led to people opting to flee city life for the relative isolation of the smaller towns, including Aspen. Demand for local real estate is booming to the point where brokers are having a hard time keeping up. “More people want to stay here for a longer period of time,” Estin said. “There was pent-up demand before and perhaps pent-up demand as a result of a two month shutdown. There are always those that have to move and those who need to sell. There are historically low interest rates — lower than we could have ever imagined.”

July 18, 2020 Aspen Times article