Real Estate in Review: 2016

Real Estate in Review: 2016

There have been a lot of assumptions of how well, or not our real estate market performed in 2016.  I think it’s important to remember in comparing 2016 with 2015, that 2008 to 2010 was the lowest point in our market and we had a 5 year run of increasing values culminating with 2015 , which was a banner year in number of transactions,  high price per square foot, as well as annual dollar volume.  There are lots of excuses we can give for the correction in both number of transactions, and dollar volume starting with the comparison to a banner year, it was an election year, we had inventory that had been picked through, and opportunities in the commercial field that are not offered today.  

But, despite the number of transactions in 2016 having dropped by 100 transactions (all of which were in Aspen) there were still some record sales in Aspen on a price per square foot basis.

Below is a simplified version of how our year performed in a few basic areas.  Focus on number of Sold properties from 2015 to 2016, Average Sale Price comparison, and I think it’s fun to see Sold price to List Price percentage.  It’s divided by Area, and Condos versus Single family homes.  

 


Year Over Year Comparison

This Year: 1/1/2016 to 12/31/2016
Last Year: 1/1/2015 to 12/31/2015


RES w/Improvements

Type: Condo/Townhouse/Duplex/Half Duplex

 Total ActiveNew ListingsNumber Under ContractNumber Sold
City/TownLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Aspen27327301901900190138-27187134-28
Basalt110116+57886+108082+27981+2
Carbondale6073+215167+315350-54952+6
Glenwood Springs9573-237859-248160-258360-27
Snowmass01+01+000000
Snowmass Village199249+25109148+359883-159288-4
Type Totals: Condo/Townhouse/Duplex/Half Duplex737785+6506551+8502413-17490415-15

Type: Condo/Townhouse/Duplex/Half Duplex
(Cont.)

 Sold VolumeAverage Sale PricePercent of List
City/TownLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Aspen368,451,541268,365,402-271,970,3292,002,727+19594-0
Basalt34,747,89244,234,623+27439,847546,106+249797+0
Carbondale18,416,72519,888,253+7375,852382,466+19898-0
Glenwood Springs20,965,83016,880,543-19252,600281,342+119898+0
Snowmass000000000
Snowmass Village80,837,81380,608,675-0878,672916,008+49393+0
Type Totals: Condo/Townhouse/Duplex/Half Duplex523,419,801429,977,496-171,068,2041,036,090-396960

Type: Single Family Residence

 Total ActiveNew ListingsNumber Under ContractNumber Sold
City/TownLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Aspen172221+28109152+3910456-4610955-49
Basalt6067+113750+354340-64341-4
Carbondale8182+17463-146259-46157-6
ElJebel01+01+01+01+ 
Glenwood Springs186200+7155168+8152149-1141152+7
Snowmass12+10001+000000
Snowmass Village7896+234560+334235-163538+8
Type Totals: Single Family Residence578669+15420495+17403340-15389344-11
Grand  Totals1,3151,454+119261,046+13905753-17879759-14

Type: Single Family Residence
(Cont.)

 Sold VolumeAverage Sale PricePercent of List
City/TownLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Aspen805,968,773354,501,425-567,394,2096,445,480-129191+0
Basalt48,635,50050,043,894+21,131,0581,220,583+79493-1
Carbondale38,679,97042,293,677+9634,098741,994+179897-0
ElJebel0419,000+0419,000+0100+
Glenwood Springs71,794,26577,027,224+7509,179506,758-09798+1
Snowmass000000000
Snowmass Village144,852,400149,695,500+34,138,6403,939,355-49192+1
Type Totals: Single Family Residence1,109,930,908673,980,720-392,853,2931,959,246-319495+1
Grand Totals1,633,350,7091,103,958,216-321,858,1921,454,490-22000

If you would like to see how your particular neighborhood performed, please call me!