Market Observation: Snowmass is Hot! There is an interesting phenomenon going on in the real estate market this year. While Aspen had the steamiest 2015 market reaching the heights of 2006/2007 prices, Snowmass was steadily picking up. However, as of January ’16, the spigot turned off in Aspen as inventories and prices started to rise and transactions and $ volume dropped as much as 40-50% throughout this calendar year. Meanwhile, Snowmass has seen more transactional activity because buyers have recognized great value with pricing often 30-50% of that in Aspen. As an illustration, 4 out of the 5 properties that I identified in my Snowmass Five Under Five blog post in July have sold or gone under contract! Only one of the Five in Aspen has gone under Contract. Not only are values recognized in Snowmass but some buyers just prefer the quieter, laid-back nature of Snowmass not to mention the best access to skiing in the world.
