Spring has come to the Rockies, with Daffodils blooming and snow still falling! Despite the lack of fresh snow, our ski season has been a great one. More people came this year than last, with real estate, retail and hotel stays all up over the previous winter.
The new February stats are out. Please see below to see what’s happening with values and activity for your property!
(click on the blue reports to get more detailed information)
ASPEN
This is the driver in our Valley’s market. Our year to date average sales price of single-family homes is up 46% over 2014 and almost matches the median sales price. Townhomes and condos are up even higher at 85% over 2014! Of course we have to remember that with such a small market as Aspen is, our numbers can be skewed by just a few sales of high priced real estate. Still it’s important to watch the trend.
Aspen Reports
BASALT
What’s important to see in the Basalt market is that we are down to 11.2 months supply of inventory for single-family homes. Typically, listings will come on as schools near the end of their year, so expect that to change in the coming months. We’ll have to see how the market shapes up at that time.
The condo market is down to 9 months supply of inventory. That will be a driving force on prices for sure. Though the stats are showing prices as being lower, it’s a sign of the market place. The lower end of the market is what’s been selling.
Basalt Reports
CARBONDALE
This report somewhat matches Basalt’s, with prices down due to what’s been selling. Carbondale is short on supply with only a 6.8 month supply of inventory of single-family homes, and a 6 month supply of inventory of condos and townhouses. As the lesser expensive inventory diminishes, prices will be driven up.
Carbondale Reports
SNOWMASS VILLAGE
Snowmass is still the place that offers the best value. Despite the large number of sales in 2014 of single-family homes, there is still a 19.4 month supply of inventory. Not surprisingly average prices are down. With the additional sales of the Viceroy, condo inventory is up to 23.6 months supply. This will be an interesting summer to watch, and as I say, one where your money goes so much further than in Aspen!
Snowmass Village Reports
GLENWOOD SPRINGS
If you own property in Glenwood, be happy. You’re the big winner. Supply of homes is down to 4 months, and condos down to 3.5 months. For those that are looking to get in to that market, Ironbridge is a great value. Having just begun to get the project off the ground after Lehmann Brothers filed Bankruptcy, the new owners are anxious to get sales under their belts, and therefore, are offering great incentives. That won’t last!
Glenwood Springs Reports
Other Reports:
Mountain Region
Statewide
Old Snowmass
Missouri Heights
Marble
New Castle
Redstone
Rifle
Silt