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July 2024 Newsletter

July 15, 2024
July 2024 Newsletter
What's New For July?
The Team
#1 in Rental Volume 10 Years in a Row
Over $30 Million in Sales Year to Date
The trends in the Aspen/Snowmass real estate market serve as crucial benchmarks for both buyers and sellers alike. They reveal the current behavior of the housing market in our area, with particular emphasis on two key metrics: the number of listings available and the price per square foot. Additionally, another significant trend to think about when you are considering purchasing real estate in Aspen/Snowmass is the discount negotiated by buyers during the closing process.
The Aspen/Snowmass real estate market has experienced notable changes recently, primarily marked by a significant increase in available residential listings in Aspen. Over just two years, listings have nearly doubled from 110 to over 200, signaling a substantial uptick in supply. Despite this rise, current inventory levels remain low compared to historical peaks.
In terms of pricing, Aspen saw a slight decline in 2023, while Snowmass Village demonstrated strong price appreciation. Conversely, Aspen's recent data through mid-2024 indicates a return to upward price trends, surpassing an average price per square foot of $3,000 for the first time in its history.
A critical trend affecting both buyers and sellers is the evolving negotiation dynamics at the closing table. In recent years, buyers have secured higher-than-average discounts, typically around 10% off the asking price, and substantial concessions ranging from 20% to 25% off the original list price. This shift indicates a market favoring buyers, prompting sellers to adjust pricing strategies to accommodate these negotiations effectively.
Understanding these trends is essential for stakeholders in the Aspen/Snowmass real estate market. Monitoring these dynamics empowers buyers and sellers alike to make informed choices aligned with their financial objectives in the dynamic and prestigious Aspen/Snowmass real estate landscape.
Thank you for working with The Team
- Lori, Patsy, Li, Karen
A Snapshot of Last Month's Market Statistics
Aspen
  • Available Listings: 174
  • Average Days on Market: 113
  • Average Sale Price: $8,083,333
  • Average Price / Square Foot: $3,295
  • Average Annual Price Appreciation: Five Years: 14.2%; One Year: -1.1%
  • Sold Last Month: 6
Snowmass Village
  • Available Listings: 65
  • Average Days on Market: 123
  • Average Sale Price: $4,544,083
  • Average Price / Square Foot: $1,984
  • Average Annual Price Appreciation: Five Years: 18.6%; One Year: 9.4%
  • Sold Last Month: 12
Basalt
  • Available Listings: 68
  • Average Days on Market: 92
  • Average Sale Price: $2,745,517
  • Average Price / Square Foot: $1,410
  • Sold Last Month: 6
Carbondale
  • Available Listings: 47
  • Average Days on Market: 172
  • Average Sale Price: $1,756,275
  • Average Price / Square Foot: $712
  • Sold Last Month: 11
Our Top Picks For Sale

1481 Sierra Vista DriveAspen

$13,200,000

5
BEDROOMS
 6
BATHROOMS
 4,410
SQ FT.
1481 Sierra Vista is situated in a prime location at the quiet end of a cul-de-sac, offering privacy and direct access to the Aspen Golf Course and the Aspen Cross Country Center. Situated between the 4th and 16th holes, the property boasts a lush backyard and natural area, providing stunning vistas of Ruthie’s on Aspen Mountain, Aspen Highlands, Pyramid Peak, and Buttermilk, all visible through floor-to-ceiling windows. Crafted in 2016, this modern residence features electric blinds and awnings, wired Sonos speakers, radiant floor heat, an elevator for convenience, and an integrated lighting system. With five ensuite bedrooms, a main-level office with a ¾ bath, a gym, and a lower-level family/media room, there’s ample space for relaxation and enjoyment. The private primary suite beckons at cocktail hour with sunset views over the Aspen Golf Course. Recent renovations include fresh paint and new flooring throughout. Upstairs, wide plank white oak hardwood flooring adds a touch of elegance, while plush new carpeting graces the lower level. The heart of the home, the chef’s kitchen, is equipped with a large center island, rift-sawn oak cabinetry, and top-of-the-line appliances, including a Wolf Range and double Miele ovens and fridge. The two-car heated garage, which is the only connection to the other ½ duplex, offers abundant storage while ensuring frost-free mornings during winter months. The property is offered fully furnished, except for artwork. Embrace Aspen Living with an easy stroll or townie ride to Aspen’s Central Core via Cemetery Lane, Marolt Pedestrian Bridge, and Hopkins Ave, Pedestrian/Bikeway, or walk to the end of the street and catch the free RFTA bus. Hikers and bikers will appreciate the proximity to Red Butte Trail, Oregon Trail, and Rio Grande Trails.
Request A Private Showing

439 Maple Ridge LaneSnowmass Village

$6,995,000

4
BEDROOMS
 5
BATHROOMS
 4,222
SQ FT.
Nestled at the end of Maple Ridge Lane on a tranquil cul-de-sac, this inviting mountain home sits on a flat ¾-acre lot, boasting a spacious manicured backyard which includes a large patio with stunning views toward the Rim Trail and the Snowmass ridge. The front yard is beautifully landscaped with flower gardens and dotted with mature aspen and spruce trees, ensuring ample privacy. Maple Ridge Lane is renowned in Ridge Run for its prime lower down location (and elevation), offering quick access to Brush Creek Road and all of the amenities of Snowmass Village. The home features a thoughtfully designed floorplan spanning two levels and a finished basement. The main level features two bedrooms and a great room that seamlessly connect to the outdoors. Upstairs, two additional bedrooms await, ensuring ample space for family and guests. Some of the highlights include a great room that opens to the backyard and patio with built-in grilling station and hot-tub, a dedicated office with a view, a cozy den just off the expansive kitchen and a dining area adjacent to the kitchen. This well-maintained property has enjoyed numerous updates and improvements, enhancing its appeal and functionality. Contact the listing broker for a detailed list of upgrades made during the current homeowner's tenure. Being sold designer furnished and curated with some exclusions.
Request A Private Showing
The Aspen/Snowmass market is constantly changing. To discuss the details of the market or a specific property, call or email us today!

Aspen

415 East Hyman Avenue, Aspen, Colorado 81611

Snowmass Village

50 Snowmass Village Mall, Snowmass Village, Colorado 81615

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