Released April 7, 2019 v1.5

Aspen and Snowmass real estate market activity – most especially the number of under contracts that have fallen through – has declined dramatically in the past 4 weeks.


                                                           Click here or table to enlarge

Table and chart series documenting the radical change in market activity during March 2020

In the present Covid 19 shut down of all non-essential Aspen and Snowmass businesses, the following table and chart series document the radical change in market activity during March 2020 –  fall throughs (deals that didn’t close), under contracts and solds in Feb and Mar 2020 vs 2019 year over year (YOY). We’ve yet to see the slowdown’s effect on actual sales as there is generally a 30-60 day lag time from under contract to closing.

ASPEN

Click here or the chart above to view the Aspen chart series.

Table 1: Feb & Mar 2020 vs 2019 Comparison Aspen Summary
– Of the 23 Under Contracts (UC’s) in Feb & Mar 2020, 10 properties have closed.
– Of the 52 Under Contracts in Feb & Mar 2019, 51 closed.
– Mar + Feb 2020 Fall Through’s = 16; Mar + Feb 2019 Fall Throughs =2, up 700%
– Mar + Feb 2020 UC’s = 23; Mar + Feb 2019 UC’s = 52, down 56% YOY.
– Mar + Feb 2020 Solds = 16; Mar + Feb 2019 Solds = 31, down 48% YOY.

Fall Through is defined as when a property under contract falls through and the deal does not successfully close.

Charts:
Chart 1: Aspen Fall Throughs
Chart 2: Aspen Fall Through and Under Contract
Chart 3: Aspen Fall Throughs, Under Contract & Sold

SNOWMASS VILLAGE

Click here  or chart above to view Snowmass Village chart series.

Table 1: Feb & Mar 2020 vs 2019 Comparison Snowmass Village Summary
– Of the 19 Under Contracts in Feb & Mar 2020, 12 properties have closed.
– Of the 37 Under Contracts in Feb & Mar 2019, 37 closed.
– Mar + Feb 2020 Fall Through’s = 9; Mar + Feb 2019 Fall Throughs =1, up 800%
– Mar + Feb 2020 UC’s = 19; Mar + Feb 2019 UC’s = 37, down 49% YOY.
– Mar + Feb 2020 Solds = 26; Mar + Feb 2019 Solds = 23, up 13% YOY.

Fall Through is defined as when a property under contract falls through and the deal does not successfully close.

Charts:
Chart 1: Snowmass Village Fall Throughs
Chart 2: Snowmass Village Fall Through and Under Contract
Chart 3: Snowmass Village Fall Throughs, Under Contract & Sold