In the first quarter of 2025, the Roaring Fork Valley real estate market has remained highly active, with steady price growth across nearly all neighborhoods, property types, and price ranges.
High-Altitude Highlights: What’s Happening in the Luxury Resort Markets of Aspen and Snowmass Village
Aspen Snowmass Sotheby’s International Realty continues to lead the luxury market in Aspen and Snowmass Village for closings over $5,000,000 in both sales dollar volume and number of transactions. In the first quarter of 2025, the resort markets continued to set new benchmarks, with the average price per square foot in Aspen surpassing $3,000 this quarter. In Snowmass Village, $2,000 per square foot is now a thing of the past, with many new Base Village condos exceeding $3,000 per square foot. Interested in seeing how this year’s resort market trends compare to those of 2024? Our Resort Report 2024 Year in Review features resort real estate market trends in 17 resort communities across the Western United States, including Aspen and Snowmass Village. Want more luxury real estate?
Pricing Resilience
Markets in the mid- and down-valley areas — like Carbondale and Glenwood Springs — also show continued pricing resilience. With closings on higher-end ranch estates in the midvalley, average sold prices can have an overinflated average, giving the illusion of a dropping market. Basalt’s single-family market has appreciated an average of 16.2% annually over the past three years. That’s significantly higher than many national markets, where average home appreciation has hovered closer to 4–6% annually. This positions Basalt as a high-performing, value-holding location for long-term real estate investment. Glenwood Springs has shown consistent appreciation in its single-family home market, with an annualized growth rate of 8.8% since 2022. While not as rapid as Basalt, Glenwood offers a more accessible entry point with strong long-term upside. Carbondale’s condo and multi-residential sector has seen steady and sustainable growth, appreciating an average of 9.2% annually over the last three years. This segment of the market remains an attractive option for investors looking for long-term value without the premium price point of single-family homes in nearby towns.
Inventory Pulse Check: Sellers, You’re in Luck
While the number of new listings in Aspen and Snowmass Village has shown a slight increase over the past two years, it’s important to understand the broader context: inventory levels remain well below historical norms. What we’re experiencing now is not a flood of inventory — it’s a gradual normalization from the unprecedented supply crunch brought on by the post-pandemic buying surge. Even with a modest rise in available properties, we’re still operating in a supply-constrained market, and for buyers, it underscores the importance of being prepared to act quickly with your trusted advisor in a market that continues to value decisiveness. For sellers, this means strong positioning potential. Most buyers in the Aspen area typically pay around 95% of asking prices.
Looking into Days on Market
Wider national and global economic trends remain an important backdrop to monitor. Our annual 2025 Luxury Outlook report delves into emerging trends and key developments set to shape the global luxury real estate landscape in the coming year. The report highlights significant factors including how a $84 trillion intergenerational wealth transfer may affect the real estate market, where 135,000 high-net-worth individuals are projected to relocate, and the profound impact of “Best Places to Live” rankings on a city’s property values and inventory levels.
We’ll be keeping a close eye on how things evolve throughout the year to keep you up to date on all market changes.
There’s promises. And then there’s performance. In the first quarter of 2025, we continued to help more people reach their real estate goals than any local firm. Our top-tier agents set the bar in sales dollar volume and number of transactions. We are proud to be your local market leader and the number one luxury vacation rental agency in the Roaring Fork Valley. Our mission is to be the firm in the Roaring Fork Valley and surrounding areas where real estate clients want to do business and real estate professionals want to work.
