Ski Season is Winding Down
The ski season is winding down, with temperatures reaching the mid 60’s all week. On Wednesday of last week, Aspen Mountain received 14 inches of new snow. I have to say it was one of the best days of the season. Bottomless powder with walk-on gondolas all day. We’re usually soaking up the sun and skiing corn snow in April, but we’ll take another powder day – especially for the snowpack and spring runoff in the Colorado River basin.
Buttermilk Mountain closed two Sundays ago; Aspen Highlands closed last Sunday, with thousands attending the annual end-of-season party. Snowmass closed yesterday (pond skimming pictured), and Aspen Mountain extended its season till April 24. Get out and enjoy the snow while you can.
An Inside Look at Today’s Real Estate in the Roaring Fork Valley
Aspen Snowmass Sotheby’s International is proud to produce one of the most comprehensive real estate market reports offered by any brokerage in the Roaring Fork Valley, sharing invaluable market insight on all twelve cities and towns in the valley, spanning from Aspen to Rifle. In the first quarter of 2022, we continue to see strong price increases across the board, historically low listing inventory levels and more off-market sales occurring than any time in recent history.
We continue to be the number one brokerage in the Valley, and represented 30% of the total sales volume of the top ten companies in the first quarter. Of the 86 transactions above $5 million in Aspen and Snowmass Village, we represented more than 30% of the clients. Click below to see our market dominance in the standard and luxury markets.
The Roaring Fork Valley’s Lack of Inventory
Lack of inventory continues in the Roaring Fork Valley. The newly released numbers show how little there is to buy right now. In Aspen, new single-family listings were down 20% year-to-date, while condominiums were 36% down. Sold single-family homes dropped by 37%, and condominiums saw a 17% decline year-to-date. In March, those numbers were -42% and -57%, respectively.
Properties are going under contract in record time as well. Full price, or over ask cash offers, with no contingencies are par for the course. You need to act decisively and have available financing to be competitive.
The same story is unfolding in the lower valley. In Glenwood Springs, the average sale price for a condominium is up 43% in March and 23% year-to-date. During a recent negotiation, my client offered 5% over the asking price with a 20-day close, all-cash, and no contingencies for a property in Glenwood Springs. The property had nine offers within 24 hours of the listing, and my client did not get the condo.
Summer Preview
- 28th Annual Ride for the Pass. This bike ride/race, which benefits the Independence Pass Foundation, starts at the winter gate and ends at the Town of Independence. The road is closed to car traffic, allowing for an enjoyable ride. For 32 years, the Foundation has been taking care of one of the country’s most magnificent alpine landscapes, enjoyed by hundreds of thousands of visitors every year.
- Belly Up Aspen has a great lineup for the spring and summer. Some of the highlights are Gary Clark Jr. on May 28th and 29th, Violent Femmes on June 12, and John Fogerty on July 2nd and 3rd.
- Food and Wine Classic returns to its normal timeframe, June 17-19th. There are plenty of events and parties to enjoy around town, even if you could not purchase a pass before they sold out.
- Aspen Ideas Fest returns June 25- July 1. The Festival is divided into three segments, each with its own stand-alone pass.
- JAS/Jazz Aspen Snowmass June 24-27 JAS Aspen Snowmass June Experience has multiple bands in various venues, all in the Downtown Aspen Core.
Not Ready to Buy? Your Luxury Vacation Rental Awaits
Escaping to Aspen has never been easier and more convenient with this recently remodeled two bedroom, two bathroom corner unit at South Point featuring views of Aspen Mountain and Red Mountain. The prime location is walkable to everything downtown and includes a dedicated garage parking spot, ski locker and close proximity to the Gondola and Lift 1A. Bosch appliances throughout, a wine fridge, gas fireplace, in-unit washer/dryer, and deck to soak up the stunning views complete the package. This exclusive listing is available starting May 1, 2022.
