May Ernemann Report - Aspen Reimagined

Offseason in Aspen Snowmass (if there is such a thing anymore) always brings a good time to reflect, rejuvinate and gear up for the summer season ahead. I find this to be a great time of year to see how the local real estate market is shaping up, with four months behind us there’s usually just enough “data” to get a sense how this year compares to last year (and prior years).

Below are a few high level snippets about the Aspen Snowmass real estate market, and my more in-depth report is linked below.

Aspen (thru April 30^th)

The number of transactions is down 25%+ compared to the first four months of 2021
Sales dollar volume is up about 18% – that’s a huge swing compared to the number of transactions and it’s driven partly by increased price per square foot and also by a higher average sales price
Average annual price per square foot increases are in the 20%-25% range depending on price point and neighborhood over the past three years – that’s significant!
The average single family home price is $15m+ so far in 2022
The average sale to list price ratio is currently around 97% (this compares to 87% 10 years ago)!
Listing inventory is down 60%+ compared to the end of April last year, and current contracts are down nearly 50%
There are only about 60 properties listed and available (not under contract) in all of Aspen at this time – that compares to 431 listings 10 years ago!

Snowmass Village (thru April 30^th)

The number of transactions is down 55% +/- compared to the first four months of 2021
Sales dollar volume is down about 15% – both the average price per square foot and average sales price are up compared to the same period last year, that helps mitigate the large drop-off in transactions
Average annual price per square foot increases are in the 20%-25% range depending on price point and neighborhood over the past three years – very similar stats to Aspen
The average sale to list price ratio is currently around 98% (this compares to 91% 10 years ago)!
The average single family home price is $7m+ so far in 2022
Listing inventory is down nearly 50% compared to the end of April last year, and current contracts are down about 50%
There are only about 30 properties listed and available (not under contract) in all of Snowmass Village at this time – that compares to 252 listings 10 years ago!

TO VIEW THE MAY 2022 ERNEMANN REPORT PLEASE CLICK HERE

The number of transactions is down 25%+ compared to the first four months of 2021

Sales dollar volume is up about 18% – that’s a huge swing compared to the number of transactions and it’s driven partly by increased price per square foot and also by a higher average sales price

Average annual price per square foot increases are in the 20%-25% range depending on price point and neighborhood over the past three years – that’s significant!

The average single family home price is $15m+ so far in 2022

The average sale to list price ratio is currently around 97% (this compares to 87% 10 years ago)!

Listing inventory is down 60%+ compared to the end of April last year, and current contracts are down nearly 50%

There are only about 60 properties listed and available (not under contract) in all of Aspen at this time – that compares to 431 listings 10 years ago!

The number of transactions is down 55% +/- compared to the first four months of 2021

Sales dollar volume is down about 15% – both the average price per square foot and average sales price are up compared to the same period last year, that helps mitigate the large drop-off in transactions

Average annual price per square foot increases are in the 20%-25% range depending on price point and neighborhood over the past three years – very similar stats to Aspen

The average sale to list price ratio is currently around 98% (this compares to 91% 10 years ago)!

The average single family home price is $7m+ so far in 2022

Listing inventory is down nearly 50% compared to the end of April last year, and current contracts are down about 50%

There are only about 30 properties listed and available (not under contract) in all of Snowmass Village at this time – that compares to 252 listings 10 years ago!

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