(Photo courtesy of Aspen Snowmass Sotheby’s International Realty)

In Aspen proper, sales of free-market residential properties totaled nearly $1.9 billion, a 21% drop-off from the $2.4 billion in 2022, according to the most recent Estin Report, a real estate property analysis produced by Aspen broker Tim Estin. For 2023, Aspen sales continued their slowing pace compared to the peak year 2021. Dollar volume remains quite strong due to high prices but unit sales have slowed. Reasons: Inventory remains exceptionally tight, buyers have less choice and prices are higher than ever,” the Estin Report said, noting that with stock markets now “exceptionally strong,” there is a sense of optimism that activity will pick up in 2024. “And in election years, the typical pattern is a rise in activity up to the election, then some flattening and a decline towards the beginning of the year. Tim Estin, The Estin Report 2023 Year in Review

Link to article