Summer Concerts, Saturday Farmer’s Markets, Ballet, Opera, Summer Words, and numerous events at the Aspen Institute — by golly, it’s Summer in Aspen!
The real estate market has been busy as well. See below for a synopsis by area and a more in depth look by link.
Local Reports for June 2015:
Aspen Report June 2015
June was a banner month for sales in Aspen for both Townhomes and houses. But now that we’ve got 6 month’s of information let’s see what’s happening; Inventory is up year to date. Seller’s, realizing the strength of the market,are no longer holding out to list for better times. They believe the time is now. We have higher prices in the Single family home category with Sellers getting on average 91.6% of their sales price. Don’t be fooled by the lower number of sales. The number of pending listings has continued to grow.
Townhomes have shown that pricing has actually gone down, but what you can’t see or may not remember is the number of high sales of Condos in the core in 2014. We had sales reaching to $3000/ft. on newly constructed penthouses that has skewed our numbers. What is reality is Sellers closing at 95% of their asking!
Basalt Report June 2015
Single family homes in Basalt have had a jump in sales price with the Median sales price going from $595,000 in 2014 to $750,000 in 2015! The average sales price has jumped from $906,881 to $968,310. Inventory is still healthy at 14.4 months of Supply.
Condos and Townhomes haven’t shared the same appreciation as Single family homes, and part of that is because of a lack of inventory. Fewer properties in this category have come on the market with 50% more Solds. Based on closings there are only 8 month of Supply left.
Carbondale Report June 2015
Carbondale Single family homes are on pace with 2014. Price change is negligible year to date. Inventory is on par as well. The big change is in the Condo-Townhouse market. Inventory is down to 5.9 months worth of supply. Still, pricing hasn’t changed a whole lot.
Glenwood Springs Report June 2015
This is a very tough market between inventory being down to 4.5 months for a condo/townhouse and sales to date up 55%! The single family house market is just a little healthier with 9 months of inventory and appreciation up 12%
Missouri Heights Report June 2015
Sellers have been encouraged enough by the marketplace to put more listings on the market. This has increased inventory such that there is a 15 month supply. Definitely a lot of good buys and choices out here.
Old Snowmass June 2015
This is another area of opportunity. Inventory is about the same as 2014, but it’s a whole different ball game. Median sales price has gone up by 17% but the percent of list price received is down from 95% of list price to 86% of list price. With just under 27 months of supply of inventory, Old Snowmass appears to be way behind the pace of the rest of the Valley.
Snowmass Village Report June 2015
Finally! Snowmass is making a statement having jumped from an average price of $2,383,000 to an 81% increase to $4,333,270! And condos have gone to an average sales price of $1,010,000. This market has confidence. And the prices for quality and square footage in Snowmass Village is so much less than Aspen.
Our Valley is consistently inconsistent from one area to another. And to complicate things further there are sub-areas in each area. If you would like to know what’s going on in a particular neighborhood , call me. I am happy to show you property or let you know what your property is currently valued at.