The first quarter results are in!  And the winner is  … Not so fast.  
Our first quarter of 2016 was the slowest quarter in 4 years.  
The market numbers are still strong, but if inventory increases and 
sales don’t catch up, we could definitely see a softening of the market.

Interestingly, rentals in Aspen and the surrounding markets are way up. 
Are people really going to stay in the longterm rental market, maybe 
realizing they will never be able to afford our marketplace?

There have been some interesting answers by the “experts” to the
quandary of the slowdown:

• We have inventory that’s been picked over

• The volatility of the stock market
• 
No way could there be as strong of a First Quarter with 
  Last year’s first Quarter being the strongest ever

• Prices have crept up, with Seller’s unwilling to respond 
  favorable to buyer’s offers

• The deals getting done are all in the lower price range, 
  and $1million to $3 million range  

Let’s see how the First Quarter 2016 compares to First Quarter 2015.

Below is a look at the volume of real-estate sold from Aspen to Glenwood. 
This is for 1/1/2016 to 4/1/2016. Dollar volume on all Valley sales is down 43%,
but the number of transactions are only down 3%

 First Quarter from Aspen to Glenwood, all Residential sales

2015 First Quarter from Aspen to Glenwood, all Residential sales

Status	# Listings	List Volume	Sold Volume		List Price	Sold Price	Sale/List Price	Total SqFt	List Price Per Total SqFt	Sold Price Per Total SqFt	Days On Market
Closed	180	460,612,600	395,536,318	Low Avg High	87,900 2,558,959 39,900,000	86,000 2,197,424 23,500,000	0.43 0.94 1.11	296 2,563 14,000	73.53 757.53 3,541.67	73.53 694.99 3,250.00	0 242 1,995

Single family residences in Aspen are down more than 50% in number of transactions and down 64% in dollar volume!

First quarter 2016 Single Family Residence, Aspen

Status	# Listings	List Volume	Sold Volume		List Price	Sold Price	Sale/List Price	Total SqFt	List Price Per Total SqFt	Sold Price Per Total SqFt	Days On Market
Closed	9	61,158,000	50,365,455	Low Avg High	799,000 6,795,333 13,995,000	740,000 5,596,162 9,365,455	0.67 0.85 0.96	1,379 4,007 9,013	579.41 1,718.92 2,779.25	536.62 1,444.27 2,284.41	33 268 770

Condos sales in Aspen are down 24% by transactions, and down nearly 50% in dollar volume!

Transactions for Snowmass are up 50% over 2015 , dollar volume is up 14%!

Status	# Listings	List Volume	Sold Volume		List Price	Sold Price	Sale/List Price	Total SqFt	List Price Per Total SqFt	Sold Price Per Total SqFt	Days On Market
Closed	27	36,672,500	34,687,917	Low Avg High	233,000 1,358,241 3,795,000	232,000 1,284,738 3,500,000	0.80 0.94 1.00	389 1,547 3,862	431.89 825.88 1,423.81	405.41 775.40 1,325.63	15 319 1,146

There have been no sales to date in Old Snowmass for 2016, but there are 2 pendings.