The leaves are falling all around and we're about one month away from Opening Day for the 2023-24 winter ski season. Let's take a look at the current state of the Aspen/Snowmass real estate market!
Moving through October, market dynamics in Aspen itself are tracking much the same as they did over the summer, still slightly favoring buyers as indicated by the following meter enclosed in Title Company of the Rockies' most recent Market Action Index.
Three-quarters of the way through 2023, both total volume and overall inventory have fallen off of summer highs a bit but the market remains strong. The summer was indeed a good one as July and August marked the first time monthly sales outpaced 2022. More properties came online for sale during this time as reflected in the small decline in price per square foot, but the total number of transactions also declined from last summer. The overall pace has slowed and more buyers are taking their time before closing.
Prices (both median and per square foot) took a jump up from the summer. Let's dig in to our select categories below for a more detailed picture.