Every year Aspen Appraisal Group prepares a detailed analysis of the previous year’s real estate market activity. If you would like me to send you a full report just let me know but here are the 30,000 square foot take-aways:
- Listings are down and sales are up in both Aspen in Snowmass
- Transactions are up but Dollar Volume is down in Aspen and Snowmass
- Per square foot prices are up in a number of Aspen market segments, including the Core
- Per square foot prices in Snowmass were down 7% for single family homes as the supply/demand imbalance in that market finally clears. However, Snowmass condo per square foot prices were up by about 12% last year, largely due to the significant number of Viceroy sales (approx. 60)
- There is development activity in the market again. Cranes are all over downtown, remodels and new building is spotted throughout the valley
In short, the 2013 statistics build on the 2012 activity and reflect a return to more normal market conditions than we have seen since the recession began. While we are seeing price increases in some segments, there is still significant opportunity in the market.
Obviously, each market segment (single family, condo, land, fractional and neighborhood) and each price category will have unique differences that I would be more than happy to walk you through.