We've conducted a comprehensive comparative analysis of real estate sales in Aspen and Snowmass Village for the year-to-date periods of 2023 and 2022. Here's a breakdown of the findings:
-Sales in Aspen have decreased by 12.2%, dropping from 189 in 2022 to 166 in 2023.
-The total sales volume has seen a 10.6% decrease, reaching $1,715,317,178 in 2023.
-The average price per square foot (AVG $/SF) has slightly decreased by 0.4% to $2,890.
-The average sales price has remained relatively steady, experiencing a slight increase to $10,333,236.
-Properties are now selling at a slightly higher discount of 6.4% off the asking price compared to 2022, when the average discount was 3.5%.
-Snowmass Village has witnessed a notable 24.1% increase in the number of sales, rising from 137 in 2022 to 170 in 2023.
-The total sales volume has seen a substantial 27.3% increase, reaching $572,086,000 in 2023, largely attributed to new developments in Base Village.
-The average price per square foot has increased by 6.9% to $1,633.
-The average sales price has slightly increased to $3,365,212, with limited room for negotiation, showing an average discount of 3.3%.
-The number of Condo/townhouse sales in Aspen have decreased by 17%, while in Snowmass Village, there's been an increase of 29.8%, reflecting a shift to a more affordable market and new developments in Base Village.
-Single-family home sales have shown mixed trends, with a 4.2% decrease in Aspen and a 6.3% increase in Snowmass Village.
-The average price per square foot in Snowmass has increased to $1,633, still just over half of Aspen's average at $2,890 per square foot.
-These figures indicate a relatively stable to slightly decreasing market in Aspen and an increasing market in Snowmass. The significant price disparity between the two areas suggests that buyers are finding value in Snowmass. Exciting developments in both on-mountain and off-mountain infrastructure in Snowmass are contributing to buyer enthusiasm for the area's improvements.
When contemplating your decision to buy or sell Aspen/Snowmass Real Estate, it is crucial to take into account a myriad of factors, including economic conditions, area preferences, and future development prospects. Our expertise is dedicated to providing you with a thorough understanding of the real estate landscape in these locations, empowering you to make well-informed decisions.
