Real Estate in the News
April, 2023
Aspen
“Spring is proof that there is beauty in new beginnings.”
— Matshona Dhliwayo
City Hires Consultants to Lead Public Art Outreach
The city of Aspen’s creation of a public arts program will be shaped by a team of consultants charged with designing both a plan and community-engagement process, the Aspen Daily News reported. The consultants come in response to residents’ pleas in the fall for a public arts program. The program likely would consist of city-owned art displays installed around town for community members and visitors to see. The consultants, ThereSquared LLC and Stilwell Cultural Consulting LLC, will conduct research, look at the city’s current art collection of about 27 pieces and where they are located, and make recommendations on their placement.
Website Launched to Track STR Permits
The city of Aspen staff added the STR-C Permit Availability Summary to the city’s website, the Aspen Times reported. This report shows detailed information about the number of issued and available STR-C permits in capped zones and is intended to inform applicants about waitlist length in zones for which STR-C waitlists exist. Map users can enter any address in the city of Aspen to see if an active STR permit exists for a property. Users can also see the type of permit, permit number, and name of the permittee for active permits.
New Police Chief Announced
The city of Aspen announced that Kim Ferber, operations commander at the Sterling Police Department, will be Aspen’s next chief of police, the Aspen Daily News reported. Ferber was selected from five finalists, including two internal candidates, after a comprehensive, nationwide search. A press release described Ferber as an innovative, empathetic, and transparent leader with more than 27 years of rural, suburban and state law enforcement experience.
Torre, Guth, Rose Win City Election
Aspen voters re-elected the incumbent Mayor Torre by a margin of 561 votes, rejecting political newcomer Tracy Sutton, the Aspen Times reported. He garnered 1,675 votes, and Sutton won 1,114 votes. Torre gained about 60% of the vote to Sutton’s 40%, which is in line with the short-term rental excise tax Aspen voters confirmed in November. City voters elected the council’s possibly youngest member in history, Sam Rose, 29, and William “Bill” Guth. Rose had a big lead over the other two candidates — first-time challenger Guth and incumbent Skippy Mesirow. Guth defeated Mesirow by roughly 210 votes. Guth, whose proreal-estate-development campaign seemed controversial at times, eked out a win for the second City Council seat.
Local Market Update for March 2023
* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.
Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 18 8 - 55.6% 37 32 - 13.5% Sold Listings 7 11 + 57.1% 18 21 + 16.7% Median Sales Price* $13,250,000 $7,850,000 - 40.8%$15,225,000 $11,000,000 - 27.8% Average Sales Price* $21,253,571 $10,905,559 - 48.7%$18,309,167 $11,816,864 - 35.5% Percent of List Price Received* 97.1% 91.1% - 6.2% 95.6% 92.3% - 3.5% Days on Market Until Sale 200 125 - 37.5% 109 121 + 11.0% Inventory of Homes for Sale 62 72 + 16.1% Months Supply of Inventory 5.2 10.4 + 100.0%
Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 16 12 - 25.0% 45 34 - 24.4% Sold Listings 10 9 - 10.0% 40 21 - 47.5% Median Sales Price* $3,542,500 $2,700,000 - 23.8%$2,817,500 $2,925,000 + 3.8% Average Sales Price* $5,388,400 $5,836,111 + 8.3%$4,188,850 $4,486,524 + 7.1% Percent of List Price Received* 97.6% 93.2% - 4.5% 97.9% 93.9% - 4.1% Days on Market Until Sale 65 110 + 69.2% 42 83 + 97.6% Inventory of Homes for Sale 32 57 + 78.1% Months Supply of Inventory 1.6 6.8 + 325.0% * Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size. Current as of April 5, 2023. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2023 ShowingTime. Aspen — Entire MLS — Entire MLS — Aspen —
A Research Tool Provided by the Colorado Association of REALTORS® Aspen March Year to Date March Year to Date Single Family Townhouse/Condo $0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 1-20181-20191-20201-20211-20221-2023 Median Sales Price –Single Family Rolling 12-Month Calculation $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 1-20181-20191-20201-20211-20221-2023 Median Sales Price –Townhouse-Condo Rolling 12-Month Calculation
Local Market Update for March 2023
Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 0 0 2 0 - 100.0% Sold Listings 0 0 0 1 Median Sales Price* $0 $0 $0 $8,600,000 Average Sales Price* $0 $0 $0 $8,600,000 Percent of List Price Received* 0.0% 0.0% 0.0% 90.5% Days on Market Until Sale 0 0 0 146 Inventory of Homes for Sale 6 4 - 33.3% Months Supply of Inventory 4.4 4.0 - 9.1% * Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size. Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 0 0 0 0 Sold Listings 0 0 0 0 Median Sales Price* $0 $0 $0 $0 Average Sales Price* $0 $0 $0 $0 Percent of List Price Received* 0.0% 0.0% 0.0% 0.0% Days on Market Until Sale 0 0 0 0 Inventory of Homes for Sale 0 0 Months Supply of Inventory 0.0 0.0 * Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size. Current as of April 5, 2023. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2023 ShowingTime. Woody Creek — Entire MLS — Entire MLS — Woody Creek —
A Research Tool Provided by the Colorado Association of REALTORS®
Year to Date
to Date Single Family Townhouse/Condo $0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 1-20181-20191-20201-20211-20221-2023 Median Sales Price –Single Family Rolling 12-Month Calculation $0 $200,000 $400,000 $600,000 $800,000 1-20181-20191-20201-20211-20221-2023 Median Sales Price –Townhouse-Condo Rolling 12-Month Calculation
Woody Creek March
March Year
635 W Gillespie Street — $8,995,000
4 Bedrooms | 3 Bathroom | 1 Car Garage
Not often do you find a house that is more than just a home. Contemporary outside and renovated inside with a refreshingly groovy tone, this house is a perfect refuge giving a calm respite after a hard day of skiing. Offering peace and quiet in Aspen’s historical West End, this four bedroom, three full bath, corner property with an intimate backyard, 1-car garage and additional parking, gives you a single family residence with all the amenities, for the price of a core condo. When it’s time to go out, call on the Downtowner for a free ride to shopping, world class restaurants, and Aspen’s famed nightlife. In the summer, enjoy a stroll to the nearby Music Tent, Aspen Physics Institute, and the Doerr Hoosier Pavilion. This is the perfect location to enjoy the Aspen lifestyle year-round!
Snowmass Village
Occupancy Down, Revenue Up
While paid occupancy in Snowmass is still slightly below last year’s levels, revenue is trending upward, the Aspen Times reported. According to a Desimetrics report, paid occupancy as of Feb. 28 in Snowmass for the winter season is at 53.2% compared to 56.3% last year. Revenue for both the month of February and the winter season is up from the past year. The average daily rate (ADR) is up 13.9%.
Capital Projects Planned for 2023
Several major and minor projects are planned
within the town of Snowmass Village, the Aspen Times reported. These include Brush Creek Road & Owl Creek Road Intersection Improvements with a road closure for part of Brush Creek most of the summer; gas line construction, with a singlelane closure in May; Town Park renovation project to beautify the entrance; Snowmass Mall Transit Center improving efficiency and rider experience by creating a single location for service; Owl Creek trail Improvements; paving projects for sections of Ridge Road, Oak Ridge Road, and Wood Road; multimodal projects will be performed around town including repairs to decking on the Woodbridge, connecting Village nodes, and improving pedestrian routes along Brush Creek; and a municipal fiber network.
Local Market Update for March 2023
Snowmass Village
* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.
Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 6 5 - 16.7% 15 10 - 33.3% Sold Listings 4 0 - 100.0% 9 7 - 22.2% Median Sales Price* $7,222,500 $0 - 100.0%$6,495,000 $4,900,000 - 24.6% Average Sales Price* $7,386,250 $0 - 100.0%$7,837,333 $5,352,143 - 31.7% Percent of List Price Received* 99.8% 0.0% - 100.0%95.3% 92.0% - 3.5% Days on Market Until Sale 110 0 - 100.0% 124 75 - 39.5% Inventory of Homes for Sale 13 21 + 61.5% Months Supply of Inventory 2.2 6.1 + 177.3%
Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 19 6 - 68.4% 46 19 - 58.7% Sold Listings 8 7 - 12.5% 27 24 - 11.1% Median Sales Price* $1,400,000 $1,100,000 - 21.4%$1,690,000 $1,130,000 - 33.1% Average Sales Price* $1,553,738 $1,819,857 + 17.1%$2,157,367 $2,383,625 + 10.5% Percent of List Price Received* 100.9% 93.9% - 6.9%100.8% 96.6% - 4.2% Days on Market Until Sale 7 58 + 728.6% 26 62 + 138.5% Inventory of Homes for Sale 28 38 + 35.7% -Months Supply of Inventory 1.6 4.0 + 150.0% -* Does not account for seller concessions and/or
payment assistance.
month
sample size. Current as of April 5, 2023. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2023 ShowingTime. Snowmass Village — Entire MLS — Entire MLS — Snowmass Village —
down
| Activity for one
can sometimes look extreme due to small
A Research Tool Provided by the Colorado Association of REALTORS®
March Year to Date
Year to Date Single Family Townhouse/Condo $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 1-20181-20191-20201-20211-20221-2023 Median Sales Price –Single Family Rolling 12-Month Calculation $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 1-20181-20191-20201-20211-20221-2023 Median Sales Price –Townhouse-Condo Rolling 12-Month Calculation
March
Old Snowmass
Local Market Update for March 2023
Old Snowmass
Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 3 3 0.0% 6 7 + 16.7% Sold Listings 1 1 0.0% 7 4 - 42.9% Median Sales Price* $2,300,000 $755,000 - 67.2%$2,300,000 $2,325,000 + 1.1% Average Sales Price* $2,300,000 $755,000 - 67.2%$8,096,429 $2,619,768 - 67.6% Percent of List Price Received* 78.0% 100.0% + 28.2%93.4% 95.6% + 2.4% Days on Market Until Sale 94 15 - 84.0% 48 50 + 4.2% Inventory of Homes for Sale 9 8 - 11.1% Months Supply of Inventory 4.0 4.0 0.0% * Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size. Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 1 0 - 100.0% 1 0 - 100.0% Sold Listings 0 0 1 0 - 100.0% Median Sales Price* $0 $0 $328,449 $0 - 100.0% Average Sales Price* $0 $0 $328,449 $0 - 100.0% Percent of List Price Received* 0.0% 0.0% 102.6% 0.0% - 100.0% Days on Market Until Sale 0 0 291 0 - 100.0% Inventory of Homes for Sale 0 0 Months Supply of Inventory 0.0 0.0 * Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size. Current as of April 5, 2023. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2023 ShowingTime. Old Snowmass — Entire MLS — Entire MLS — Old Snowmass —
A Research Tool Provided by the Colorado Association of REALTORS®
March Year to Date March
to Date Single Family Townhouse/Condo $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 1-20181-20191-20201-20211-20221-2023 Median Sales Price –Single Family Rolling 12-Month Calculation $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 1-20181-20191-20201-20211-20221-2023 Median Sales Price –Townhouse-Condo Rolling 12-Month Calculation
Year
Basalt
The Fields Developers Withdraws Application
The developer of a controversial midvalley proposal called The Fields withdrew an application for 135 residences after it became clear it would be rejected by the three Eagle County commissioners, the Aspen Daily News reported. The developers made a last-ditch effort to salvage the project by asking the commissioners to table the application and give them time to respond to the commissioners’ concerns, but the commissioners declined. The developer does have the option to rework the plan and resubmit an application, but it would start new.
The commissioners were in agreement that the nearly 20-acre property along Valley Road west of Crown Mountain Park is eligible for higher density and that the plan is compatible with the surrounding neighborhood. However, to get the higher density, the developer requires a change in zoning, and a
major criteria for an upzoning is public benefit. The developer proposed price caps on 34 units and a “resident occupied” designation on another 20 but that was not enough to entice commissioners to see the full public benefit.
Basalt Shatters Sales Tax Records
Basalt’s economy keeps shattering annual records for sales and sales tax collections, the Aspen Daily News reported. The town government broke the $10 million barrier in sales tax collections for the first time ever in 2022. The town collected $10.49 million, up nearly 17% from 2021. The last year the town failed to increase sales tax collections over the previous year was 2016, when it slipped by less than 1%. Since then, sales tax collections jumped 9.3% in 2017; 2.7% in 2018; and 10.4% in 2019 before heading into even higher territory during the buying frenzy that marked the COVID-19 years.
Local Market Update for March 2023
* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.
Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 3 5 + 66.7% 7 11 + 57.1% Sold Listings 4 3 - 25.0% 10 12 + 20.0% Median Sales Price* $1,450,000 $3,390,000 + 133.8%$1,630,000 $2,191,500 + 34.4% Average Sales Price* $1,570,375 $3,380,000 + 115.2%$1,747,050 $2,170,250 + 24.2% Percent of List Price Received* 96.2% 97.4% + 1.2% 97.4% 97.2% - 0.2% Days on Market Until Sale 116 217 + 87.1% 85 100 + 17.6% Inventory of Homes for Sale 10 11 + 10.0% Months Supply of Inventory 1.8 3.7 + 105.6% * Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size. Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 12 2 - 83.3% 25 12 - 52.0% Sold Listings 11 6 - 45.5% 19 12 - 36.8% Median Sales Price* $1,380,000 $989,000 - 28.3%$1,105,000 $845,000 - 23.5% Average Sales Price* $1,318,545 $1,213,000 - 8.0%$1,160,579 $975,875 - 15.9% Percent of List Price Received* 101.1% 98.0% - 3.1%101.6% 97.6% - 3.9% Days on Market Until Sale 19 30 + 57.9% 26 42 + 61.5% Inventory of Homes for Sale 27 20 - 25.9% Months Supply of Inventory 3.6 3.4 - 5.6%
Current as of April 5, 2023. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2023 ShowingTime. Basalt — Entire MLS — Entire MLS — Basalt —
A Research Tool Provided by the Colorado Association of REALTORS®
Basalt
March Year to Date
Townhouse/Condo $250,000 $500,000 $750,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 1-20181-20191-20201-20211-20221-2023 Median
–Single
12-Month Calculation $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 1-20181-20191-20201-20211-20221-2023
–Townhouse-Condo
12-Month Calculation
March Year to Date Single Family
Sales Price
Family Rolling
Median Sales Price
Rolling
Local Market Update for March 2023
Missouri Heights
Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 4 4 0.0% 9 11 + 22.2% Sold Listings 4 0 - 100.0% 8 0 - 100.0% Median Sales Price* $2,262,500 $0 - 100.0%$1,698,750 $0 - 100.0% Average Sales Price* $3,165,588 $0 - 100.0%$2,690,981 $0 - 100.0% Percent of List Price Received* 97.3% 0.0% - 100.0%97.2% 0.0% - 100.0% Days on Market Until Sale 128 0 - 100.0% 146 0 - 100.0% Inventory of Homes for Sale 7 18 + 157.1% Months Supply of Inventory 2.2 7.0 + 218.2% * Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size. Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 0 0 0 0 Sold Listings 0 0 0 0 Median Sales Price* $0 $0 $0 $0 Average Sales Price* $0 $0 $0 $0 Percent of List Price Received* 0.0% 0.0% 0.0% 0.0% Days on Market Until Sale 0 0 0 0 Inventory of Homes for Sale 0 0 Months Supply of Inventory 0.0 0.0 * Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size. Current as of April 5, 2023. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2023 ShowingTime. Missouri Heights — Entire MLS — Entire MLS — Missouri Heights —
A Research Tool Provided by the Colorado Association of REALTORS®
March Year to Date March Year to Date Single Family Townhouse/Condo $250,000 $500,000 $750,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 1-20181-20191-20201-20211-20221-2023 Median Sales Price –Single Family Rolling 12-Month Calculation $0 $200,000 $400,000 $600,000 $800,000 1-20181-20191-20201-20211-20221-2023 Median Sales Price –Townhouse-Condo Rolling 12-Month Calculation
Carbondale
Family-Owned The Crow & Key Opens
A family-owned home decor and gift store operated by Amber and Ted Frisbie opened in March, the Sopris Sun reported. They work closely with local and small business owners, as well as local and international artists, to stock the shelves with all kinds of home goods, clothing and artwork. Amber is originally from northern Michigan
and moved to Carbondale in 2005 to teach at Crystal River Elementary School and met Ted, a Carbondale Community School teacher and musician with the Hell Roaring String Band, which played at the grand opening. The Crow & Key is located at 443 Main St, between Flowers on Main and Bonfire Coffee.
Local Market Update for March 2023
Carbondale
* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.
Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 15 16 + 6.7% 39 38 - 2.6% Sold Listings 14 7 - 50.0% 23 15 - 34.8% Median Sales Price* $1,000,000 $1,900,000 + 90.0%$1,110,000 $1,900,000 + 71.2% Average Sales Price* $1,729,454 $1,925,143 + 11.3%$1,915,341 $2,165,233 + 13.0% Percent of List Price Received* 99.2% 96.5% - 2.7% 98.7% 95.6% - 3.1% Days on Market Until Sale 62 124 + 100.0% 85 127 + 49.4% Inventory of Homes for Sale 41 49 + 19.5% Months Supply of Inventory 3.0 5.2 + 73.3% * Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size. Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 7 3 - 57.1% 15 17 + 13.3% Sold Listings 1 1 0.0% 9 10 + 11.1% Median Sales Price* $710,000 $982,000 + 38.3%$934,000 $682,250 - 27.0% Average Sales Price* $710,000 $982,000 + 38.3%$1,047,928 $983,841 - 6.1% Percent of List Price Received* 99.3% 98.7% - 0.6% 98.6% 96.8% - 1.8% Days on Market Until Sale 87 8 - 90.8% 126 68 - 46.0% Inventory of Homes for Sale 7 18 + 157.1% Months Supply of Inventory 0.9 3.3 + 266.7%
Current as of April 5, 2023. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2023 ShowingTime. Carbondale — Entire MLS — Entire MLS — Carbondale —
A Research Tool Provided by the Colorado Association of REALTORS®
March Year to Date
Townhouse/Condo $250,000 $500,000 $750,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 1-20181-20191-20201-20211-20221-2023 Median Sales Price –Single Family Rolling 12-Month Calculation $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 1-20181-20191-20201-20211-20221-2023 Median Sales Price –Townhouse-Condo Rolling 12-Month Calculation
March Year to Date Single Family
824 E Hopkins Avenue, 101, Aspen — $3,595,000
2 Bedroom | 2 Bath | 941 SQFT
Sunny and bright, this sophisticated 2 bedroom 2 bath river front condo is perfectly located in town, yet set back from the road behind meticulous landscaping, bringing nature to your door. With an open floor plan, this first floor, one level home includes a real wood burning fireplace, washer/dryer, lots of built-ins and tons of closet space. Gorgeous marble-tiled baths. Well-maintained and managed building, these condos rarely turn over. Assigned off-street parking offers an added bonus. Listen to the river as you relax after a hike. Walk to restaurants, movies and world class shopping — you really can have it all!
824 E Hopkins is commonly known as 830
Glenwood Springs
Hot Springs Continues Renovation
The Glenwood Hot Springs Resort announced the third phase of a multiyear renovation plan, including five new pools and a shaded area, the Aspen Daily News reported. The East End Expansion Project will add a new swimming area with five additional pools featuring varying water temperatures, a shade pergola and hearth. In addition, the area around the mother spring, named the Yampah Spring by Ute Native Americans, will be landscaped and the mineral water drinking spring reopened. The project is expected to be completed by the summer of 2024.
Local Market Update for March 2023
Glenwood Springs
Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 17 8 - 52.9% 43 26 - 39.5% Sold Listings 14 10 - 28.6% 33 20 - 39.4% Median Sales Price* $657,250 $726,500 + 10.5%$761,000 $806,000 + 5.9% Average Sales Price* $808,171 $722,808 - 10.6%$886,810 $985,229 + 11.1% Percent of List Price Received* 98.5% 93.7% - 4.9% 98.7% 94.0% - 4.8% Days on Market Until Sale 64 76 + 18.8% 54 74 + 37.0% Inventory of Homes for Sale 33 26 - 21.2% Months Supply of Inventory 1.8 2.1 + 16.7% -* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size. Key Metrics 20222023 Percent Change from Previous Year Thru 03-2022Thru 3-2023 Percent Change from Previous Year New Listings 10 8 - 20.0% 21 14 - 33.3% Sold Listings 11 6 - 45.5% 22 14 - 36.4% Median Sales Price* $605,000 $600,000 - 0.8%$552,500 $497,500 - 10.0% Average Sales Price* $555,273 $641,917 + 15.6%$516,500 $526,929 + 2.0% Percent of List Price Received* 98.2% 98.7% + 0.5% 99.5% 98.6% - 0.9% Days on Market Until Sale 140 44 - 68.6% 115 40 - 65.2% Inventory of Homes for Sale 6 7 + 16.7% -Months Supply of Inventory 0.7 1.0 + 42.9% * Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size. Current as of April 5, 2023. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2023 ShowingTime. Glenwood Springs — Entire MLS — Entire MLS — Glenwood Springs —
A Research Tool Provided by the Colorado Association of REALTORS®
March Year to Date March Year to Date Single Family Townhouse/Condo $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 1-20181-20191-20201-20211-20221-2023 Median Sales Price –Single Family Rolling 12-Month Calculation $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 1-20181-20191-20201-20211-20221-2023 Median Sales Price –Townhouse-Condo Rolling 12-Month Calculation
Pitkin County
Landfill’s Life Might Get an Extension
Pitkin County is working on a plan to extend the life expectancy of the landfill by an estimated 70 years, but it won’t be quick or cheap, the Aspen Daily News reported. County staff is hoping to expand the territory to dump and bury garbage to the south and west of the current burial grounds, but if no action is taken, the dump will be filled in about six years.
If approved, infrastructure would be relocated in 2026, at a cost of $9 million. It would include building a new scale house in a different location and reconfiguring the dump road after it climbs into the landfill grounds. The south expansion would allow trash to be buried where the existing scale house and access road are located. The expansion would be undertaken in 2027 at a cost of $6.25 million. The work would add an estimated 25 years to the life of the landfill. The west expansion is further down the road, slated for 2050. It would add 45 years to the landfill at a price estimated in today’s dollars at $4.1 million.
who contend the project should be denied, including Carbondale-based Wilderness Workshop and the Colorado Chapter of the Sierra Club. Their entry into the debate is important because they have the experience and background of filing sophisticated objections that the Forest Service will be forced to answer. They contend that the Forest Service is taking a business-as-usual approach despite clear evidence that increased recreation is taking a toll on wildlife and the environment.
SkiCo Names New CEO
Aspen Skiing Co. lured away a top executive from Vail Resorts Inc.’s Whistler Blackcomb in British Columbia, to become its new CEO, the Aspen Times reported. Geoff Buchheister has been named the new CEO to run its mountain operations, following a search that began after Mike Kaplan announced his retirement in March 2022. Buchheister adds another piece to the structural changes that have been taking place at Skico, which included establishing its Aspen Hospitality division, led by CEO Alinio Azevedo, and AspenX, led by COO Darcy Loeb.
Major Enviro Groups Oppose Trail
The challenges have piled up in the U.S. Forest Service review process against the proposed trail between Redstone and the McClure Pass summit, the Aspen Daily News reported. A total of 31 formal objections were filed against a White River National Forest draft decision for approval of the 7-mile trail. About threefourths of the objections were by opponents
Buchheister, 48, had been chief operating officer at the 8,100-acre Whistler Blackcomb since November 2019. He gained most of his professional experience at Park City, Utah, where he worked in various leadership roles, Skico said. He began working for Vail Resorts when the company bought Park City Mountain Resort in 2014.
VALLEYWIDE
Regional Housing Coalition Formed
The West Mountain Regional Housing Coalition formed last year with eight Roaring Fork Valley government entities as its members with the aim to launch a “buydown” program targeted at helping locals purchase homes listed for $800,000 or less, Aspen Journalism reported. The group would give homeowners cash to help make the purchase — $100,000 or more, coalition members estimate — in exchange for placing a deed restriction on the properties at purchase to keep them occupied by local people who intend to live there full time.
According to data prepared for the coalition by two brokers at Aspen Snowmass Sotheby’s International Realty, in the first half of 2022, there were a combined 97 free-market home sales in Basalt and Glenwood Springs under $800,000. Seventy-two of them were in Glenwood Springs, 15 in Basalt and 10 in Carbondale. The Basalt and Carbondale sales have been of particular interest to the
coalition as observers report more sales going to second-home owners, short-term rentals and retirees and this program hopes to combat that trend.
Vail to Close Its Aspen Sports Stores
The retail arm of Vail Resorts decided before the ski season began that it would close several of its Aspen Sports outlets and other stores in Aspen and Snowmass Village, the Aspen Daily News reported. SSI Venture Inc, the retail arm of Vail Resorts, filed notices of closures of nine outlets in Aspen and Snowmass Village with the Colorado Department of Labor and Employment. SSI Venture sent individual notices on the pending closure of nine outlets in Aspen and Snowmass Village, with seven of them affiliated with the Aspen Sports brand. The Patagonia and The North Face shops in Snowmass Village will also close. They will all close over several months this spring.
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