The Statistics for Year-End 2017
2017 was a phenomenal year for Aspen/Snowmass area real estate! Aspen alone concluded 28 sales north of $10 million compared to just 13, like kind sales in 2016, and all real estate categories showed increases over their 2016 counterpart.
Aspen – Aspen single-family home sales reached just over $791 million in sold volume, which was a 123% increase over 2016, along with an 80% increase in total transactions. The average single-family sold price per square foot shot up to $1,606, which was a 17% increase over 2016.
The Aspen condominium market saw a 47% increase in total dollars spent reaching nearly $400 million in sold volume in 2017. Total condo transactions also saw a 31% increase over 2016!
Snowmass – While the total number of single-family transactions were up some 17%, total dollars slipped by 6% and the average price per square foot slid by 21% vs. 2016. Snowmass suffers greatly from a lack of new single-family home inventory, hence the slip in price per sq ft and dollars spent, while still outperforming 2016 in total sales.
The Snowmass condominium market continues to be a bright spot by posting a 20% increase in dollar volume and a 19% increase in the number of transactions over 2016. Look for this trend to continue in 2018 as Base Village releases several new condominium projects for sale.
Bottom Line – I am extremely grateful to all my friends, colleagues and clients who helped make 2017 a fantastic year in real estate both for Aspen/Snowmass and for my real estate practice. 2018 is off to a fast start! I see it continuing throughout the year with a special emphasis on Snowmass as the new Base Village developers release $100’s millions of new condo inventory for sale.