Tag: 2023 Wrap Up

2023 Wrap Up

As we approach the end of this incredible year, I couldn’t be more grateful for the ongoing relationships with my clients. It has been an honor representing 22 rental properties and working with dozens of clients, finding them properties to rent in the Roaring Fork Valley. It’s been a year of milestones for my real estate business, and I’m thrilled to share some exciting updates.

This year’s standout listing is at 861 Ute Ave, a legacy 5 bedroom 5 and a half bathroom home located steps away from Aspen Mountain. After a meticulous process of over 30 showings and 18 open houses, I am delighted to share the property is now under contract. The collaborative efforts and enthusiasm from sellers and prospective buyers made this achievement possible, exemplifying my dedication to each listing.

With over 100 rental transactions completed in 2023, amounting to nearly $3.65 million in sales, 2023 was my most successful year-to-date. These ranged from smaller agreements starting at $7,500 to larger transactions reaching $565,000. Each deal represents a unique journey, and I am thankful for the trust placed in me to represent both landlords and tenants.

Looking ahead, I am excited about the prospects of a robust finish to 2023 and an even more promising start to 2024. Your support and partnership have been instrumental in making this year a success, and I look forward to continuing our journey together in the coming year.

Wishing you a joyful holiday season and a prosperous New Year!

Year End Observations

As we bid farewell to 2023, we must reflect on the trends and shifts that define our real estate market. Here’s a comprehensive recap of the year, highlighting key statistics and insights:

Median Sale Price:
2022: $6.1 million
2023: $5.25 million

While we observed a decrease in the median sale price from the previous year, I feel this shows the consistency of the pricing in our market.

Closed Sales:
2022: 182
2023: 167 (8.2% decrease)

The market experienced a slight decline in closed sales, reflecting a little bit of uncertainty from buyers.

Median Days On Market:
2022: 74 days
2023: 109 days (48.3% increase)

A notable change was observed in the median days on market, indicating a shift in the pace of real estate transactions. Sellers are still looking for COVID pricing, and buyers are searching for pre-COVID discounts.

Asking Price To Sold Price Discount:
2022: 96.6
2023: 94.1 (2.7% decrease)

A 2.7% decrease in asking price to sold price discount shows that sellers are still not flexible on their asking price. I believe this stat, combined with the increased days on the market and a decrease in closed sales, shows that buyers are sticking to their desired pricing and waiting for the right number.

Sold Price Per Square Foot:
2022: $2,867
2023: $2,866

Despite other fluctuations, the sold price per square foot remained consistent, underlining the resilience of certain market aspects.

Listing Inventory:
2022: 287
2023: 309 (7.7% increase)

The rise in inventory tells the story of decreased demand in our market.

As we navigate these changes together, I remain committed to providing you with expert guidance and unwavering support. The real estate landscape is ever-evolving, and purchasing in Aspen and holding for the long term is still a great investment strategy. As the saying goes, they are not making more of Aspen.

Looking forward to a prosperous 2024!

Aspen’s A+ Aprés Lineup

No matter the season, visitors frequent the Roaring Fork Valley for the views, the weather, and the glorious nature. But what keeps the mountain town more enticing with each passing year and encourages year-long visitor traffic is also the culture, culinary opportunity, and luxury shopping. The region has become a favorite stop among sophisticated American vacationers and international jet-setters alike. While the iconic allure is the legendary ski runs hosted by the surrounding Rocky Mountains, Aspen has become far more than merely a place to shred powder.

Discover the Art of Curation

An exceptional art collection may be eclectic, but it’s never disorderly; every piece is chosen because it holds personal significance, or dialogues compellingly with a certain space or place. That’s why if you have a private art collection—or aspire to amass one—knowing how to curate it in your home is so essential.

Enjoy the Latest Edition of Elevated Living

We are proud to introduce the second edition of the Aspen Snowmass Sotheby’s International Realty magazine, Elevated Living. In this issue, we pull back the curtain on local real estate and all the communities we serve, and share crave-worthy content including:

Pick up a copy at any of our offices throughout The Roaring Fork Valley or click to check out the digital version below.

Weekly Open House Tours

Looking for a late afternoon, early evening activity following your epic aprés? Every week from Tuesday through Friday, we host an open house tour in a different area from 3 – 5 pm, showcasing our exclusive listings. Click the button below to learn more about the schedule for this winter season.

124 E Durant Ave Unit #1 Aspen, CO

It’s not too late to book a holiday visit to Aspen. 124 E Durant Ave., No. 1 is the perfect blend of timeless charm and mountain modern, just steps away from the gondola, renowned dining spots, and scenic parks. This East Durant Townhouse features spectacular Aspen Mountain views from the south facing deck and a cozy wood-burning fireplace. Three bedrooms and two full bathrooms, including a king-bed primary suite with a private bathroom and guest bedroom with built-in bunk beds, provide flexible sleeping arrangements for everyone in the group. Make your next visit to Aspen worry free with an updated gourmet kitchen, ground-level walk-out patio, and a dedicated parking space providing ease and comfort for any length of stay. STR# 089082