The Estin Report Aspen Snowmass Report market reports posts a 10-page snapshot* on or near the 1st Monday of each month.
Bottom Line Feb 2023 While inventory remains at record historic lows, in Feb we saw a 68% increase of Aspen properties for sale and in Snowmass Village a 78% increase. More properties are continuing to come onto the market – a positive sign that perhaps market dynamics are slowly shifting in the buyer’s direction. Referring to the top charts on Pgs 6 & 8, last year Feb 2022 appears to have been the inventory trough, the lowest point ever. We are coming out of that bottom now although inventory of available properties for sale continues to be at historic record lows. A limited number of properties for sale keeps prices in general high. And we’re still there. At the end of Feb 2023, there were (207) active listings in Aspen Snowmass compared to (527) pre-pandemic at the end of Feb 2020, -61% less now than in more “normal” times. Anecdotally from what I’ve discussed or heard from other brokers around the country, the story is similar in many other luxury real estate markets: low inventory, high prices, economic uncertainty and a major transaction slow-down. There’s talk that New England and Southern Florida markets are “taking off'” as of early spring 2023.
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Links to Feb 2023 Aspen and Snowmass Village Sold Property Photos and Details
Aspen Feb 2023 Closed Properties. This link is valid until 4/1/2023
Snowmass Village Feb 2023 Closed Properties. This link is valid until 4/1/2023
Released Mar 6, 23
For sales assistance & inquiries, please call/txt Tim Estin, Aspen Snowmass Sotheby’s broker, at 970.309.6163 or email.
The Estin Report publishes a 10-page monthly Aspen real estate market “Snapshot” on or near the 1st Monday of each month. The Snapshot presents a “bottom line” summary and raw data of the subject month and YTD performance for residential real estate sales in Aspen and Snowmass today. It includes on and off-market sales and scrubbed data to remove “outliers” to deliver the most accurate and relevant data available. There are (3) sections: 1) Total combined Aspen Snowmass Village Market; 2) The Aspen Market; 3) The Snowmass Village Market. It features charts, tables and 30-day live links to photos and details of sold properties and compares the subject month to the same time in prior years. The Monthly Snapshot is the only Aspen and Snowmass property sales information widely published in a timely and consistent manner early each month.
The charts and tables in these market reports document residential sales activity for Aspen and Snowmass Village. “Aspen” includes Aspen, Brush Crk, Woody Crk and Old Snowmass single family home sales over $1.5M in the subject month. Included property types are single family homes, condos, townhomes, duplexes and residential vacant land at sold at prices over $250,000. Fractionals, mobile homes, deed restricted and commercial properties are not included.
Source data is from the Aspen Glenwood MLS. It is scrubbed to remove outliers and sales that the author believes are misleading. For example: In the MLS, a mobile home sale is recorded as a single family home sale. Here, it is counted in the total dollar and unit sales figures but not as a single family home sale. Another example, a 1950’s small home on 3 acres at a perfect river’s bend walkable to town is recorded as a $35M single family home sale but in Estin Reports it’s counted as a vacant land sale. If counted as a home sale, it would skew average and median sold prices and price/sq ft metrics significantly, and inaccurately, higher. This information is deemed reliable but cannot be guaranteed.
The Estin Report© is copyrighted 2023 and all rights reserved. Use is permitted subject to the following attribution with an active link to the source: The “Estin Report on Aspen real estate.”