The Estin Report wrote in its Q3 2014 report (released Nov. 5th in Current Reports), “In Snowmass Village, unit sales have largely recovered to 2007 and 2008 levels but prices continue to be way off, down an average 40-55% from the mid-2000’s. Last year the bright light for the resort was Viceroy Hotel Condo sales selling at –60% off pre-construction prices of 2006-2007; this year, SMV vacant lot sales in 2014 YTD have picked up considerably with (10) sales – seven under $1.5M – as spec builders and end users look for values hard to find in the upper Roaring Fork Valley. As mentioned numerous times here, and in prior reports, the best Aspen area purchase opportunities are presently in Snowmass provided the Related Co’s, owner of SMV Base Village, resolve a myriad of development issues with the Town of Snowmass as appears to be their direction in the fall 2014.”
An article in today’s New York Times supports this view that the time to buy real estate in Snowmass Village – just 6-8 miles from downtown Aspen – may be now… for numerous reasons.
Link to article Nov 21, 2014 NYT
The Viceroy, Snowmas Village, CO