Released May 14, 2018 v.1.5 Yodel from the Mountains! Estin Report: April 2018 Aspen Snowmass Real Estate Market The Estin Report: Apr 2018 Aspen Snowmass Real Estate Market Snapshot is a 10-Page statistical breakdown of monthly and year-to-date sales in detail. It is available for download on the right… Read More
This Section contains current Estin Reports and Snapshots for the Current Year 2018. Reports from 2017 will be moved to Past Reports soon. Prior year annual and half-year reports and monthly snapshots are archived in the Past Reports section.
The reports are:
1) Bi-annual: State of the Aspen Real Estate Market.
2) Monthly Market Snapshots: Aspen Snowmass Real Estate (10-pgs of detailed monthly stats and ‘bottom line’ brief commentary) released on or near the 1st Monday of each month
3) Weekly Blog: Aspen Snowmass Weekly Property Closings and Under Contract Activity posted every Monday morning on Tim Estin’s AspenRealEstateBlog.
Released April 12, 2018 v.2.25 (Pg 3 and Pg 7 condo footnotes were updated to reflect specific avg. condo prices per sq ft) Yodel from the Mountains! Estin Report: March 2018 Aspen Snowmass Real Estate Market The Estin Report: Mar 2018 Aspen Snowmass Real Estate Market… Read More
Released Mar 5, 2018 v2.21. (Updated footnote for "February 2018 Aspen and Snowmass Average Sold Prices Chart top of pg 3 to v2.22 on Mar 17, 18. No data changed.)
Yodel for the Mountains! Estin Report: Feb 2018 Aspen Real Estate Market
The Estin Report: Feb 2018 Market Snapshot Aspen Snowmass Real Estate is a 10-Page statistical breakdown of monthly and year-to-date sales in detail. The Monthly Snapshots are posted on or near the 1st Monday of the month. It is the only monthly Aspen market report to be published in a consistent and timely manner.
Yodel from the Mountains of Aspen - where the winter snows of mid-to-late Feb finally arrived giving us superb powder skiing after a dispiriting Dec – Jan drought, where the real estate market is super active and where everyone wonders how long this nice ride will continue.
With many economic metrics in record territory, prognosticators on the national level say we may have two years left (Dr Elliot Eisenberg at an Aspen Realtor Lunch on 2/22/18. See presentation.) - fueling it are tax cuts, increased government spending, still low interest rates, low unemployment, stable GDP, growing world economies and a record stock market. There is consensus that we are in uncharted waters across the board.
In Aspen, our present up-cycle is now 8 years old, the 2nd longest on record since 1976, according to Randy Gold of Aspen Appraisal Group. The recent Feb. 2018 stock market correction was déjà vu all over with early 2016 when the Dow tanked due to plummeting oil prices and hyper worries of a China slowdown. That event triggered the severe 9-month election year fall-off in the local real estate market up to Nov. 2016.
Since then, our market has recovered to near record 2015 levels. Activity has been largely fueled by high demand for Aspen real estate inside the roundabout - which proved itself highly resilient and liquid during the Great Recession - and that focus continues unabated today. But also, at long last, smart buyers are recognizing and snapping up the far superior values outside the roundabout.
In general, optimism rules even though there are any number of macro events that could spoil the day – Korea, the budget deficit, national debt and other factors unknown.
Bottom Line Feb 2018
Sales activity for the year through Feb 2018 is up 30-35% over the same last year.
Specifics: Read More
Released Feb 13, 2018 v2.1 (On on 3/5/18 added the following footnote for v2.2 on Pgs 6 and 7. "In Jan 2018, there were 6 closings of OneAspen Townhomes near Aspen Mtn Lift 1A totaling $53M. Avg Sold Price: $8.5M/$1,732 sf. Avg size: 3bdrm/4ba,4938 sf. They went under contract in fall 2015.")
Sales continued to be very active in Jan 2018. Of particular note, downtown Aspen condo inventory for sale has fallen -30% in Jan 2018 from Jan 2017. Condo demand is high: unit sales increased 56% year over year with (14) sales in Jan '18 versus (9) last Jan '17. Read More
Released 01/14/18 v2.2
Aspen CO and Snowmass Village CO
Real Estate Market Snapshot
Bottom Line (excerpt from Snapshot)
Dec 2017 ended on a weak note compared to what was to an outstanding year. A disappointment in fact. But maybe this was the reprieve we needed after an exceptionally strong three months in August, Sep and Oct ’17.
Because 2016 was such an "off" year attributed largely to the election, only comparisons to 2015 are useful. For the year, dollar sales at $1.512B were almost dead-even with $1.513B in 2015; unit sales were also near even with 2015 with (433) in 2017 versus (442) in 2015. Years 2017 and 2015 were remarkably similar to one another and the best performing years of the past ten, 2008-2017.
Of particular note, 2017 had the lowest inventory of properties for sale during that ten year period: (762) listings in 2017 vs (858) in 2015, -11%.
Standout categories for the month of December are: Read More
Released Dec 6, 2017 v2.0 Nov 2017 Aspen and Snowmass Village Real Estate Snapshot (Click images above for full 10 Pg Snapshot PDF with detailed charts and tables for Aspen… Read More
For 2017 YTD thru Oct, the total combined Aspen Snowmass dollar market is nearing the 2015 YTD mark, $1.23B versus $1.38B; in unit sales, it is 349 sales vs 341 respectively. Overall inventory of available properties for sale in Oct 2017 has declined 13% since Oct 2015. For Aspen condos specifically - a particularly hot segment of the market, it has declined 17% in the same period. Read More
Released Oct 8, 2017 v2.1 Sept 2017Aspen and Snowmass VillageReal Estate Snapshot (Click link… Read More
Released Sep 15, 2017 v2.2 August 2017Aspen and Snowmass VillageReal Estate Snapshot(Click link above for full 10 Pg PDF… Read More
Released Mon Aug 8, 2017 v2 July 2017Aspen and Snowmass VillageReal Estate Snapshot (Click link above for full 10 Pg PDF… Read More
Released Mon July 10, 2017 v2.0 June 2017Aspen and Snowmass VillageReal Estate Snapshot(Click table or link above for full 10 Pg PDF with detailed charts and tables for Aspen and Snowmass Village sales and sales by neighborhoods.) Bottom Line June 2017 has been the best June for Aspen real estate in the past 10 years. Dollar sales for properties selling over $10M are up over 125% year-to-date (YTD) and for all properties, sales are up 118% YTD. At the same time, inventory of available properties for sale is declining, down 30% in June ’17 year over year, which should create upward pressure on prices. Read More
Released June 4, 2016 v1.5
Aspen and Snowmass Village
Real Estate Snapshot
Click link for 10-Pg PDF
There is a night and day difference between May 2017 and same time last year. The market appears to be firing on all cylinders heading into the summer selling season.
A statistic that says it all: there were (15) Aspen single family home sales in May 2017 versus (2) in May 2016, +650% (Pg 6). Read More