It’s been another exceptional quarter for Aspen Snowmass Sotheby’s International Realty. Historically low inventory combined with a strong demand makes it a true seller’s market.

Aspen single-family home price points have risen by 17% YTD. Snowmass village single-family market is by far the most active in 2021 with dollar volume up 119% over last year and transactions up 60%. Snowmass Village condominium sales are also surging with dollar volume and transactions up 66% YTD.

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Fall, my favorite time of year, is finally here. The air is crisp, the sky is a deep blue and the golden foliage is spectacular. Things have quieted down a bit so we can all take a little breather after an incredibly busy summer and before the winter season begins.

The market still continues to be stronger than I’ve ever seen it, with very limited inventory of properties available to purchase at top prices. Check out the market update below.

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Lack of inventory continues to be our biggest challenge. Similar to land, the number of homes and condominiums or townhomes is at an all-time low. In Snowmass, there are only 15 homes on the market where historically there might have been 70-80 and only 24 condominiums available where historically there would have been 150-160. Aspen follows those same trends. As a result, we are often seeing multiple offers and signed back-up offers in case a transaction falls through.

As you can see the market is extremely competitive and that is when working with a highly experienced broker with vast resources becomes more important than ever. I know what is coming on the market or for sale but not publicly marketed. If you are looking to purchase, you can’t wait to see it pop up on a website because by that time it is probably already sold or under contract.

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In the second quarter of 2021, as well as for the past 20 years, Aspen Snowmass Sotheby's International Realty was able to assist more sellers and buyers with their real estate needs than any other brokerage firm in the Roaring Fork Valley. It is undoubtedly a seller’s market. Snowmass Village continues to top the charts in growth with an increase of 735% in total sales volume.

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The inventory of properties continues to dwindle and there’s still no end in sight in terms of escalating values.

Properties are going under contract quickly. Many with competing offers and buyer’s in back-up positions. It continues to be a Seller’s market.

Summer is buzzing by. Town is super busy. I’ve never seen so many cars and heard such loud cheering at the Snowmass Rodeo as I witnessed last night! It’s great seeing so many people out having fun! And, I’m grateful for all the mountain rain storms keeping everything green and moist. I hope you are out and about enjoying all that this beautiful Valley offers!

Here’s an updated snippet of the market through June 2021.

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Well, summer has officially begun and many of the COVID mandates have been relaxed. That said, many of the precautions are having a lasting effect. Restaurants are offering much more outdoor dining, outdoor activities such as biking, hiking, or rafting are in high demand as a result of our lessons learned from social distancing. This past year has had some surprising effects. Real estate has surged with record sales. Some restaurants had their best year ever due to take-out and restructuring of their business models. We are anticipating an extremely active although modified summer.

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Springtime has officially arrived in Aspen/Snowmass! It is absolutely beautiful with brilliant green everywhere you look, from all the rain we’ve received, contrasted by the snow-covered peaks in the background. Covid restrictions are being relaxed and we are anticipating a great summer. This weekend is the start of the season, with many restaurants and activities opening up.

Reservations are way up and rentals are difficult to find. The real estate market remains extremely active and, following what has been true for the past several months, lack of desirable inventory is our biggest challenge. We are regularly seeing multiple offers, backup offers, properties selling before hitting the MLS, and even have buyers receiving offers upon closing for a million dollars more than what they just paid.

If you own property and have ever considered selling, now is truly your greatest opportunity. If you would like to discuss the market, your property's worth, or looking for a rental, let me know. I will be happy to help you negotiate this unprecedented market.

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Real estate sales continue to boom. Check out the record-breaking numbers in the report below. The number of sales is actually starting to go down, only because there is not much available inventory left. Many properties are selling prior to even hitting the market. This is when our partnerships with the Sotheby’s brokers as well as long-term friendly relationships with outside brokers become increasingly valuable, enabling me to hear about “pocket listings” before they even hit the MLS. This seems to be the primary means of finding inventory at this point in time. So, if you’re considering purchasing a property in the Roaring Fork Valley, it’s more important than ever to be in close communication.

If you are considering selling for any reason, please give us a call to get a valuation of your property. You may be surprised to hear the current value.

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In my 35 years of working in real estate in Snowmass/Aspen, I’ve never seen a buyer frenzy quite like what we are currently experiencing. The inventory is historically low, while the demand remains high. The inventory in Snowmass is down 64% and 35% in Aspen. In Snowmass there are only 149 total properties on the market and 83 of those are under contract, leaving only 66 properties to choose from. And 14 of those properties are brand new inventory, The Electric Pass Lodge, which is not even built yet! The most dramatic segment is single family homes in Snowmass. There are only 38 homes on the market with 21 under contract leaving just 17 homes in all of Snowmass available. This time last year there were approximately 80.

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