Released 02/03/2014 v1.Market Snapshots are released on or about the 1st Monday of each month.
Clickimagefor full Jan. 2014 Aspen and Snowmass Village Market Snapshot PDF
For the combined Aspen and Snowmass Village market, Jan. 2014 was the worst performing month of the past seven years: dollar sales, off 74% from $65M in Jan. 2013 to $17M in Jan. 2014; unit sales were off 53%, from (30) sales in Jan. 2013 to (14) sales in Jan. 2014.
Dec 2013 performed relatively poorly as well, off 60% in dollar sales, from $157M in Dec. 2012 to $63M in Dec. 2013; unit sales were off 31% from (42) sales in Dec 2012 to (29) sales in Dec. 2013.
The Estin report ran thecombined Dec. 2013 and Jan. 2014 numbersand compared them to the same period a year prior.
The results were most notably bad in the Aspen single family home market where unit sales fell 47%, from (19) Aspen home sales in Dec & Jan. 2012/2013 to (10) sales in Dec. & Jan. 2013/2014 and dollar sales declined 80%, from $134M in Dec. & Jan. 2013/2013 to $27M in Dec. & Jan. 2013/2014.
The fall-off in sales in Dec. 2013 from the year before was attributed to the record number of deals that took place in Dec. 2012 motivated by changing tax rules in early 2013.But other than spectacular snow conditions that gave us fantastic skiing over the 2013/2014 Holidays – likely taking priority over Aspen property shopping – it is a puzzle at present whyJan. 2014faired so poorly as well.
…Maybe that is enough of a reason…the skiing has been so good, who has time to look at properties?
One thing is for sure: everything looks so incredibly beautiful with all the recent snowfall, who would not want to live here ?!
January 2014 Links to sold properties
Aspen Solds Jan. 1 – 31, 2014 (7 properties. Includes Aspen, Brush Cr Village, Woody Creek, Old Snowamss.) This link is valid until 03/05/2014.
Snowmass Village Solds Jan. 1 – 31, 2014 (6 properties. SMV only.) This link is valid for 30 days until 03/05/2014.
Vacant Land Solds Jan. 1 – 31, 2014(1 property in Old Snowmass/Gateway area.) This link is valid for 30 days until 03/05/2014.
Disclaimer: The statements made in The Estin Report and on Tim Estin’s blog represent the opinions of the author and should not be relied upon exclusively to make real estate decisions. A potential buyer and/or seller is advised to make an independent investigation of the market and of each property before deciding to purchase or to sell. To the extent the statements made herein report facts or conclusions taken from other sources, the information is believed by the author to be reliable, however, the author makes no guarantee concerning the accuracy of the facts and conclusions reported herein. Information concerning particular real estate opportunities can be requested from Tim Estin at970.309.6163orEmail him.The Estin Report is copyrighted 2014 and all rights reserved. Use is permitted subject to the following attribution with link to the source: “TheEstin Reporton the Aspen real estate market”