Real Estate in the News

July, 2022

“A little bit of summer is what the whole year is all about.” ~ John Mayer

HAPPY SUMMER ALL! The time has been flying by with so many great events in Aspen from music all over the Valley to talks at the Aspen Institute. I hope everyone has been able to take advantage of at least a few of the wonderful entertaining options offered. Beside the great outdoors that we call our back yard, these events are what make our Valley even more special! Everyone asks, “What is happening with the market in Aspen and the Roaring Fork Valley?” Below are bullet points of interest on real estate sales in Aspen and Snowmass are trending: • The total number of sales in 2022 continues to track well below the pace set in 2021 – transactions are down 25%50% +/- depending on the location • A strong increase in sale prices has masked the slowdown in the pace of transactions, sales dollar volume is up modestly YTD in Aspen and down about 17% in Snowmass Village • The closings thus far this year show a strong sellers’ market with only a 2-3% average discount off the list price • Listing inventory remains tight although the tide is starting to turn with a trend toward increasing inventory due to more listings hitting the market and few contracts compared to last year at this time • Overall listing inventory is down 30% in Aspen but up 30% in Snowmass Village compared to one year ago

Continued ... • There are about 45 properties currently under contract in Aspen Snowmass right now, this is a significant drop relative to the 150+ contracts in place last July • The three year average price growth in Aspen Snowmass is over 20% per year on average – this is historically strong • There have been 10 sales over $30 million so far this year in Aspen, that’s more than any other entire year, ever – the high-end of the market remains strong • Snowmass Village continues to be a value relative to Aspen – the 2022 average overall price per square foot for Snowmass Village sales is approximately $1,500 compared to almost $3,000 per square foot in Aspen On the “Hotsheet” this week 2 Aspen Core properties went pending, one asking $4051/sq ft and the other condo is asking $4,112/sq ft. so although showings are fewer, I have not noticed any change in pricing! Please let me know when you’re in town. I’d love to say “hello!” Best,

Tory

Tory@ToryThomas.net 415 East Hyman Avenue, Aspen CO 81611 c 970-948-1341 | t 970-925-6060 | f 970-920-9993

Aspen

Council Approves Rental Regulations

Short-Term include a cap on occupancy limits, to two people plus one for studios and two people per bedroom plus two for one-bedroom The Aspen City Council unanimously passed units and anything large, and a 120-day an ordinance regulating short-term rentals limit on owner-occupied rentals. There is once the current moratorium sunsets an administrative fee of $148 for lodgingin September, the Aspen Daily News reported. Ordinance 9 includes occupancy exempt STRs like condo-hotels, and $349 limits, night rental limits, a new permitting for owner-occupied units and classic STRs. system, and a three-classification system day limit for owner-occupied STR permits for permits. Some of the new regulations to 120.

Local Market Update for June 2022 A Research Tool Provided by the Colorado Association of REALTORS®

Aspen June

Single Family

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

+ 19.2%

100

- 15.0%

Sold Listings

- 63.2%

- 31.9%

Median Sales Price*

$11,100,000

$11,400,000

+ 2.7%

$9,600,000

$13,250,000

+ 38.0%

Average Sales Price*

$13,989,316

$17,993,130

+ 28.6%

$12,405,893

$18,132,381

+ 46.2%

94.5%

91.7%

- 3.0%

95.4%

96.0%

+ 0.6%

Days on Market Until Sale

125

182

+ 45.6%

172

133

- 22.7%

Inventory of Homes for Sale

110

- 40.9%

Months Supply of Inventory

6.0

5.9

- 1.7%

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

June

Townhouse/Condo

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

- 28.9%

138

- 30.4%

Sold Listings

- 18.8%

107

- 34.6%

Median Sales Price*

$1,462,500

$2,195,000

+ 50.1%

$1,750,000

$2,950,000

+ 68.6%

Average Sales Price*

$2,124,509

$3,998,154

+ 88.2%

$2,394,045

$4,477,643

+ 87.0%

96.3%

100.7%

+ 4.6%

96.4%

98.3%

+ 2.0%

Days on Market Until Sale

- 64.5%

108

- 62.0%

Inventory of Homes for Sale

- 50.5%

Months Supply of Inventory

4.3

2.5

- 41.9%

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Aspen —

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

$12,000,000

$3,000,000

$10,000,000

$2,500,000

$8,000,000

$2,000,000

$6,000,000

$1,500,000

$4,000,000

$1,000,000

$2,000,000

$500,000

$0 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

$0 1-2017

1-2018

1-2019

1-2020

Entire MLS — Aspen —

1-2021

1-2022

Bayer Center Opens on Aspen He retired at the end of 2010. He was a close Institute Campus friend of Hunter S. Thompson’s, and he was known for his ability to form friendships with “Herbert Bayer: An Introduction” is the people from all walks of life. opening exhibition in the new Resnick Center for Herbert Bayer Studies which debuted on Aspen Increasing Parking Fines the Aspen Institute campus in June, the Aspen Daily News reported. The center honors the After 20 years of holding the line with parking multidisciplinary artist and designer Herbert fines, the city of Aspen upped its citations, the Bayer who moved to Aspen in 1946 and Aspen Times reported. One of the main reasons designed the campus. to make the change is to reduce the abuse city staff see with people who violate the four-hour The 8,000-square-foot building, designed by maximum to park in the downtown core. Jeffrey Berkus Architects and Rowland and The “core overtime citation” increased from Broughton, was constructed two years after $30 to $50 and then up to $100 and $200 the Bauhaus celebration in 2019, and is named for multiple offenses, with a municipal court after Lynda and Stewart Resnick, who donated date as a final solution for the most egregious $10 million in support of the project. It’s scofflaws. The increases are part of the city comprised of more than 150 works arranged engineering department’s goals to free up chronologically across 13 galleries, and the parking in the downtown core and crack down monographic exhibition takes a deep dive on offenders. into Bayer’s lifetime and highlights the artist’s extensive body of work. It’s free and open to City Braces for Economic Slowdown the public. City of Aspen financiers are heading into the Bob Braudis Dies at 77 second half of the year bracing for a slowdown in the local economy, the Aspen Times reported. Bob Braudis, the former Pitkin County sheriff That’s based on several factors, including a and county commissioner who left an indelible slow-down trend in sales tax revenues for the mark on local law enforcement and politics, first four months of the year compared with died from natural causes in June, the Aspen the same time in 2021. The city and the resort Times reported. Braudis won the sheriff’s seat are facing a headwind with increasing fuel of Pitkin County in 1986. His popularity with the costs and staffing shortages in the hospitality electorate carried over into November 2000, sector. While the city is losing ground in sales when Pitkin County voters repealed term limits tax revenue, it’s estimated the municipal for the office (along with the assessor and government will be up 12% in collections at clerk), so Braudis could remain their sheriff. the end of the year over 2021.

Local Market Update for June 2022 A Research Tool Provided by the Colorado Association of REALTORS®

Woody Creek June

Single Family

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

+ 50.0%

Sold Listings

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

+ 20.0%

- 100.0%

Median Sales Price*

$16,200,000

- 100.0%

$19,750,000

- 100.0%

Average Sales Price*

$16,200,000

- 100.0%

$17,466,667

- 100.0%

98.7%

0.0%

- 100.0%

92.5%

0.0%

- 100.0%

169

- 100.0%

257

- 100.0%

Inventory of Homes for Sale

+ 33.3%

Months Supply of Inventory

3.6

6.0

+ 66.7%

Percent of List Price Received* Days on Market Until Sale

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

June

Townhouse/Condo

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

Sold Listings

Median Sales Price*

Average Sales Price*

Percent of List Price Received*

0.0%

Days on Market Until Sale

Inventory of Homes for Sale

Months Supply of Inventory

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.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Woody Creek —

$14,000,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — Woody Creek —

$800,000

$12,000,000 $600,000

$10,000,000 $8,000,000

$400,000 $6,000,000 $4,000,000

$200,000

$2,000,000 $0 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

$0 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

Snowmass Village

Town Council Adopts Connectivity Plan Snowmass Town Council adopted a connectivity plan that’s years in the making and 80 pages with appendices included, the Aspen Times reported. It lists more than a dozen goals that focus on linking up the town’s commercial hubs (Snowmass Center, Base Village, and the Snowmass Mall, mainly) and improving safety for pedestrians and cyclists all over the village. It took years to approve because the review process has been bogged down by the details about how the town might achieve the goals laid out in the plan. In the meantime, the town has already completed some of the projects proposed in the plan, like implementing crosswalk signs with flashing beacon lights, and the wheels are in motion

for other pedestrian safety improvements along Highline Road and the section of Brush Creek Road known as the Donny White Curve. Visitor Numbers Start to Soften Booking rates and occupancy statistics are softening in the Snowmass lodging market, the Aspen Times reported. The combined occupancy rate data for Aspen and Snowmass Village showed that “summer to date, May through October, we’re down 11% year over year,” according to marketing director Rose Abello. The summer average room rate is $278 this year compared with $272 last year — but in the village, the paid occupancy rate is currently tracking at 25.7% for 2022 compared with 28.2%. Abello said there is some price resistance among guests, and that people are putting off, or decreasing, travel because of higher gas prices.

Local Market Update for June 2022 A Research Tool Provided by the Colorado Association of REALTORS®

Snowmass Village June

Single Family

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

- 12.5%

Sold Listings

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

- 7.9%

+ 16.7%

- 20.6%

Median Sales Price*

$5,900,000

$4,560,000

- 22.7%

$5,265,000

$6,000,000

+ 14.0%

Average Sales Price*

$6,268,333

$5,240,714

- 16.4%

$5,463,868

$7,101,745

+ 30.0%

Percent of List Price Received*

95.6%

97.4%

+ 1.9%

96.3%

0.0%

Days on Market Until Sale

242

142

- 41.3%

200

113

- 43.5%

Inventory of Homes for Sale

- 8.7%

Months Supply of Inventory

2.9

3.8

+ 31.0%

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

June

Townhouse/Condo

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

+ 21.7%

Sold Listings

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

177

- 44.6%

- 28.6%

130

- 52.3%

Median Sales Price*

$595,500

$1,291,500

+ 116.9%

$805,000

$1,525,000

+ 89.4%

Average Sales Price*

$922,357

$1,900,300

+ 106.0%

$1,287,309

$2,027,805

+ 57.5%

Percent of List Price Received*

99.1%

98.0%

- 1.1%

97.3%

98.8%

+ 1.5%

Days on Market Until Sale

- 60.0%

120

- 76.7%

Inventory of Homes for Sale

- 28.8%

Months Supply of Inventory

2.8

3.2

+ 14.3%

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Snowmass Village —

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

$6,000,000

$1,400,000

$5,000,000

$1,200,000

$4,000,000

$1,000,000

$3,000,000

$800,000

$2,000,000

$600,000

$1,000,000

$400,000

$0 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

$200,000 1-2017

1-2018

1-2019

1-2020

Entire MLS — Snowmass Village —

1-2021

1-2022

Local Market Update for June 2022 A Research Tool Provided by the Colorado Association of REALTORS®

Old Snowmass June

Single Family

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

- 25.0%

Sold Listings

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

- 42.9%

+ 100.0%

+ 44.4%

Median Sales Price*

$1,725,000

$8,967,500

+ 419.9%

$1,725,000

$2,450,000

+ 42.0%

Average Sales Price*

$1,725,000

$8,967,500

+ 419.9%

$2,447,778

$6,288,462

+ 156.9%

Percent of List Price Received*

96.4%

89.3%

- 7.4%

97.0%

94.4%

- 2.7%

Days on Market Until Sale

192

+ 236.8%

108

+ 80.0%

Inventory of Homes for Sale

- 71.4%

Months Supply of Inventory

5.8

1.7

- 70.7%

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

June

Townhouse/Condo

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

Sold Listings

+ 100.0%

Median Sales Price*

$405,000

$526,725

+ 30.1%

Average Sales Price*

$405,000

$526,725

+ 30.1%

Percent of List Price Received*

0.0%

97.6%

99.7%

+ 2.2%

Days on Market Until Sale

190

149

- 21.6%

Inventory of Homes for Sale

Months Supply of Inventory

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.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Old Snowmass —

$3,000,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — Old Snowmass —

$1,000,000

$2,500,000

$800,000

$2,000,000 $600,000 $1,500,000 $400,000 $1,000,000 $200,000

$500,000

$0 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

$0 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

Basalt

Tree Farm Full Speed Ahead A Scottsdale developer with a major stake in the Tree Farm development in El Jebel remains bullish on the project despite the bearish stock market and hints of a recession, the Aspen Times reported. Walt Brown Jr. said his team is ready to roll on a mixed residential and commercial project on the west end of Kodiak Lake across Highway 82 from Whole Foods. He anticipates acquiring building permits from Eagle County and breaking ground in July. Brown’s family has acquired roughly one-

quarter of the land in the Tree Farm project. Landowner Ace Lane acquired approvals from Eagle County in 2017 for nearly 135,000 square feet of commercial space and up to 340 residences. Two Dallas-based real estate development firms are building 156 free-market apartments and 40 apartments with rent caps on the east end of the lake. Brown’s property has approvals for about 70 residences and 54,000 square feet of restaurant, retail, and office space. Another Dallas-based development firm, Bedford Lodging, is building the 122-room Hoffmann Hotel near the Willits LaneHighway 82 intersection.

Local Market Update for June 2022 A Research Tool Provided by the Colorado Association of REALTORS®

Basalt June

Single Family

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

- 31.6%

- 25.0%

Sold Listings

- 66.7%

- 56.3%

Median Sales Price*

$1,295,000

$805,000

- 37.8%

$1,472,500

$1,562,500

+ 6.1%

Average Sales Price*

$1,740,000

$805,000

- 53.7%

$1,858,047

$1,838,964

- 1.0%

92.7%

97.1%

+ 4.7%

95.3%

98.6%

+ 3.5%

Days on Market Until Sale

- 53.7%

142

- 44.4%

Inventory of Homes for Sale

- 24.2%

Months Supply of Inventory

4.7

5.2

+ 10.6%

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

June

Townhouse/Condo

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

+ 20.0%

- 3.4%

Sold Listings

- 8.3%

+ 22.2%

Median Sales Price*

$620,500

$914,000

+ 47.3%

$620,500

$914,500

+ 47.4%

Average Sales Price*

$744,667

$962,227

+ 29.2%

$696,231

$1,058,670

+ 52.1%

101.5%

102.7%

+ 1.2%

99.2%

101.4%

+ 2.2%

Days on Market Until Sale

+ 91.7%

- 63.9%

Inventory of Homes for Sale

- 30.0%

Months Supply of Inventory

2.2

1.8

- 18.2%

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Basalt —

$1,600,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — Basalt —

$900,000

$1,400,000

$800,000

$1,200,000

$700,000

$1,000,000 $600,000 $800,000 $500,000

$600,000

$400,000

$400,000 $200,000 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

$300,000 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

Carbondale

Town Government Tries to Rein remain valid until Dec. 31, 2023. in Short-Term Rentals Earlier this year, a grassroots group asked The town of Carbondale began accepting the town’s board of trustees to consider applications for short-term rental licenses some regulations, saying that STRs put and decided that all STRs must be a strain on the community. They also licensed by July 31, the Aspen Daily News reported. After that, the town will pause circulated a petition to put a measure new licenses with some exceptions as on the ballot this fall. There is no official officials gather data and decide on what record of how many STRs are in town, but permanent regulations should be put in a search on Google returns 60 offerings in place. Licenses issued before July 31 will Carbondale.

Local Market Update for June 2022 A Research Tool Provided by the Colorado Association of REALTORS®

Carbondale June

Single Family

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

- 15.4%

113

115

+ 1.8%

Sold Listings

- 27.3%

- 34.1%

Median Sales Price*

$1,400,000

$2,157,933

+ 54.1%

$1,472,500

$1,786,250

+ 21.3%

Average Sales Price*

$1,761,273

$2,157,400

+ 22.5%

$1,551,059

$1,942,679

+ 25.2%

98.5%

100.8%

+ 2.3%

97.7%

99.0%

+ 1.3%

Days on Market Until Sale

108

+ 71.4%

+ 25.0%

Inventory of Homes for Sale

+ 20.3%

Months Supply of Inventory

3.2

5.6

+ 75.0%

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

June

Townhouse/Condo

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

- 50.0%

- 23.4%

Sold Listings

- 42.9%

- 34.8%

Median Sales Price*

$570,000

$1,300,000

+ 128.1%

$591,750

$934,174

+ 57.9%

Average Sales Price*

$563,285

$1,201,250

+ 113.3%

$625,073

$1,000,104

+ 60.0%

97.2%

101.8%

+ 4.7%

99.6%

99.2%

- 0.4%

Days on Market Until Sale

- 26.0%

- 35.3%

Inventory of Homes for Sale

- 50.0%

Months Supply of Inventory

1.9

1.1

- 42.1%

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Carbondale —

$1,600,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — Carbondale —

$900,000

$1,400,000

$800,000

$1,200,000

$700,000

$1,000,000 $600,000 $800,000 $500,000

$600,000

$400,000

$400,000 $200,000 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

$300,000 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

Local Market Update for June 2022 A Research Tool Provided by the Colorado Association of REALTORS®

Missouri Heights June

Single Family

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

- 54.5%

- 17.2%

Sold Listings

0.0%

- 30.4%

Median Sales Price*

$1,900,000

$1,712,500

- 9.9%

$1,850,000

$1,786,250

- 3.4%

Average Sales Price*

$2,396,667

$2,136,111

- 10.9%

$1,937,364

$2,398,511

+ 23.8%

94.3%

102.6%

+ 8.8%

96.2%

98.8%

+ 2.7%

Days on Market Until Sale

389

251

- 35.5%

134

140

+ 4.5%

Inventory of Homes for Sale

- 28.6%

Months Supply of Inventory

4.7

5.1

+ 8.5%

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

June

Townhouse/Condo

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

Sold Listings

Median Sales Price*

Average Sales Price*

0.0%

Days on Market Until Sale

Inventory of Homes for Sale

Months Supply of Inventory

0.0

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Missouri Heights —

$1,750,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — Missouri Heights —

$800,000

$1,500,000 $600,000 $1,250,000

$1,000,000

$400,000

$750,000 $200,000 $500,000

$250,000 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

$0 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

Local Market Update for June 2022 A Research Tool Provided by the Colorado Association of REALTORS®

Redstone June

Single Family

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

0.0%

- 35.7%

Sold Listings

- 100.0%

- 90.9%

Median Sales Price*

$1,497,000

- 100.0%

$900,000

$11,975,000

+ 1230.6%

Average Sales Price*

$1,497,000

- 100.0%

$1,070,931

$11,975,000

+ 1018.2%

91.9%

0.0%

- 100.0%

92.0%

97.8%

+ 6.3%

Days on Market Until Sale

- 100.0%

445

+ 934.9%

Inventory of Homes for Sale

+ 40.0%

Months Supply of Inventory

2.1

3.5

+ 66.7%

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

June

Townhouse/Condo

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

- 100.0%

Sold Listings

- 100.0%

Median Sales Price*

$242,500

- 100.0%

Average Sales Price*

$242,500

- 100.0%

0.0%

100.2%

0.0%

- 100.0%

Days on Market Until Sale

- 100.0%

Inventory of Homes for Sale

Months Supply of Inventory

0.0

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Redstone —

$1,000,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — Redstone —

$800,000

$900,000 $600,000

$800,000 $700,000

$400,000 $600,000 $500,000

$200,000

$400,000 $300,000 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

$0 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

Local Market Update for June 2022 A Research Tool Provided by the Colorado Association of REALTORS®

Marble June

Single Family

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

- 80.0%

Sold Listings

- 100.0%

Median Sales Price*

$865,000

- 100.0%

$651,000

- 100.0%

Average Sales Price*

$865,000

- 100.0%

$677,000

- 100.0%

98.9%

0.0%

- 100.0%

98.8%

0.0%

- 100.0%

Percent of List Price Received* Days on Market Until Sale

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

165

- 100.0%

Inventory of Homes for Sale

0.0%

Months Supply of Inventory

1.6

1.5

- 6.3%

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

June

Townhouse/Condo

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

Sold Listings

Median Sales Price*

Average Sales Price*

0.0%

Days on Market Until Sale

Inventory of Homes for Sale

Months Supply of Inventory

0.0

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Marble —

$700,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — Marble —

$800,000

$600,000

$500,000 $400,000 $400,000 $200,000

$300,000

$200,000 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

$0 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

Glenwood Springs

CDOT Grant to Fund Sixth Street reconstruct Sixth Street from Laurel Street Project to Pine Street, addressing safety concerns for vehicles, pedestrians and bikes. Sixth Street, once Glenwood Springs’ Scheduled to begin in 2023, the Sixth main artery, is to be revitalized as a Street project could convert five existing multimodal community thoroughfare with vehicle lanes into a two-way “Complete the help of a $1.1 million grant from the Street” with two vehicle lanes, parallel Colorado Department of Transportation, parking lanes, 8-feet wide walkways, tree the Glenwood Springs Post Independent and landscaping areas as well as an 8-footreported. Glenwood Springs plans to wide, two-way separated bike lane.

Local Market Update for June 2022 A Research Tool Provided by the Colorado Association of REALTORS®

Glenwood Springs June

Single Family

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

- 21.7%

132

112

- 15.2%

Sold Listings

- 18.2%

105

- 22.9%

Median Sales Price*

$806,350

$850,000

+ 5.4%

$729,000

$814,748

+ 11.8%

Average Sales Price*

$956,056

$922,765

- 3.5%

$809,210

$917,670

+ 13.4%

99.3%

100.1%

+ 0.8%

98.4%

99.3%

+ 0.9%

Days on Market Until Sale

- 35.4%

0.0%

Inventory of Homes for Sale

+ 22.9%

Months Supply of Inventory

1.6

2.6

+ 62.5%

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

June

Townhouse/Condo

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

+ 45.5%

+ 10.2%

Sold Listings

- 57.1%

+ 15.4%

Median Sales Price*

$422,500

$481,000

+ 13.8%

$375,000

$510,000

+ 36.0%

Average Sales Price*

$375,286

$486,833

+ 29.7%

$376,459

$503,569

+ 33.8%

99.6%

101.1%

+ 1.5%

99.9%

100.3%

+ 0.4%

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

Days on Market Until Sale

- 87.8%

+ 153.3%

Inventory of Homes for Sale

- 33.3%

Months Supply of Inventory

2.4

1.4

- 41.7%

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Glenwood Springs —

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

$900,000

$800,000

$700,000

$600,000

$500,000

$400,000

$300,000

$300,000 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

$200,000 1-2017

1-2018

1-2019

1-2020

Entire MLS — Glenwood Springs —

1-2021

1-2022

Local Market Update for June 2022 A Research Tool Provided by the Colorado Association of REALTORS®

New Castle June

Single Family

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

0.0%

Sold Listings

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

- 20.0%

+ 66.7%

- 28.8%

Median Sales Price*

$612,500

$686,000

+ 12.0%

$507,500

$649,000

+ 27.9%

Average Sales Price*

$589,533

$725,047

+ 23.0%

$539,526

$659,148

+ 22.2%

103.0%

100.0%

- 2.9%

99.5%

100.0%

+ 0.5%

+ 400.0%

- 18.9%

Percent of List Price Received* Days on Market Until Sale Inventory of Homes for Sale

- 63.6%

Months Supply of Inventory

2.3

1.0

- 56.5%

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

June

Townhouse/Condo

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

- 45.5%

Sold Listings

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

0.0%

+ 125.0%

0.0%

Median Sales Price*

$272,000

$314,000

+ 15.4%

$299,000

$349,000

+ 16.7%

Average Sales Price*

$287,750

$347,389

+ 20.7%

$326,193

$380,607

+ 16.7%

99.2%

101.9%

+ 2.7%

100.4%

101.7%

+ 1.3%

+ 20.0%

- 21.4%

Percent of List Price Received* Days on Market Until Sale Inventory of Homes for Sale

- 25.0%

Months Supply of Inventory

1.5

1.0

- 33.3%

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — New Castle —

$700,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — New Castle —

$800,000

$700,000 $600,000 $600,000 $500,000

$500,000

$400,000 $400,000 $300,000 $300,000 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

$200,000 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

Local Market Update for June 2022 A Research Tool Provided by the Colorado Association of REALTORS®

Silt June

Single Family

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

- 33.3%

- 16.9%

Sold Listings

+ 50.0%

+ 4.7%

Median Sales Price*

$422,500

$557,500

+ 32.0%

$476,000

$510,000

+ 7.1%

Average Sales Price*

$418,000

$587,417

+ 40.5%

$485,563

$530,876

+ 9.3%

101.6%

100.9%

- 0.7%

99.7%

98.8%

- 0.9%

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

Days on Market Until Sale

- 92.9%

+ 22.5%

Inventory of Homes for Sale

- 40.7%

Months Supply of Inventory

3.4

1.9

- 44.1%

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

June

Townhouse/Condo

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

+ 80.0%

Sold Listings

+ 50.0%

+ 100.0%

Median Sales Price*

$395,000

$385,000

- 2.5%

$333,500

$383,500

+ 15.0%

Average Sales Price*

$395,000

$389,667

- 1.4%

$341,500

$361,875

+ 6.0%

102.4%

100.0%

- 2.3%

101.1%

99.5%

- 1.6%

Days on Market Until Sale

+ 440.0%

+ 325.0%

Inventory of Homes for Sale

0.0%

Months Supply of Inventory

0.4

0.6

+ 50.0%

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Silt —

$600,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — Silt —

$800,000

$700,000 $500,000 $600,000 $400,000

$500,000

$400,000 $300,000 $300,000 $200,000 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

$200,000 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

Local Market Update for June 2022 A Research Tool Provided by the Colorado Association of REALTORS®

Rifle June

Single Family

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

- 25.0%

134

- 32.8%

Sold Listings

- 16.7%

- 13.7%

Median Sales Price*

$393,500

$500,000

+ 27.1%

$375,000

$445,000

+ 18.7%

Average Sales Price*

$435,361

$523,235

+ 20.2%

$401,414

$478,187

+ 19.1%

100.5%

100.4%

- 0.1%

99.5%

99.4%

- 0.1%

Days on Market Until Sale

- 74.2%

- 28.6%

Inventory of Homes for Sale

- 40.0%

Months Supply of Inventory

2.4

1.4

- 41.7%

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

June

Townhouse/Condo

Year to Date

Key Metrics

2021

2022

Percent Change from Previous Year

New Listings

- 20.0%

- 38.1%

Sold Listings

- 66.7%

- 36.6%

Median Sales Price*

$245,000

$330,000

+ 34.7%

$250,000

$305,750

+ 22.3%

Average Sales Price*

$254,117

$290,625

+ 14.4%

$247,289

$276,558

+ 11.8%

101.0%

100.8%

- 0.2%

100.6%

100.4%

- 0.2%

Days on Market Until Sale

0.0%

- 4.2%

Inventory of Homes for Sale

+ 14.3%

Months Supply of Inventory

1.2

1.4

+ 16.7%

Percent of List Price Received*

Thru 06-2021

Thru 6-2022

Percent Change from Previous Year

* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Rifle —

$600,000

Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation

Entire MLS — Rifle —

$800,000 $700,000

$500,000

$600,000 $500,000

$400,000 $400,000 $300,000

$300,000

$200,000 $200,000 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

$100,000 1-2017

1-2018

1-2019

1-2020

1-2021

1-2022

Pitkin County

After Debate, Commissioners Grant and questioned if the TDR program had outgrown TDR for Historic Property its intent. Despite reticence, it was approved, and the homeowners say they are eager to restore Pitkin County commissioners approved a the property. proposal that will lead to historic preservation of an old farmhouse, barn and henhouse in Board Approves Short-Term Rental Emma, the Aspen Times reported. In return for Regulations the property owners preserving the roughly 100-year-old structures, the county will grant a The Pitkin County commissioners reached a transferrable development right that can be sold compromise on short-term rental restrictions on the open market. The sale will raise funds for by bumping up the maximum number of rental the renovation work. nights to 120 from 90 per year, the Aspen Times The farmstead at 2250 Emma Road was reported. They finally got a rule on the books after established by Joseph and Sidonie Dossigny more than 20 estimated discussions, four official in 1907. The original house burned down and readings, endless hours of debate and divided the current one was built in 1925. Some of public comments. The regulation will apply to the commissioners were wary of the historic unincorporated Pitkin County only — not shortpreservation deal because they don’t want to see term rentals in Aspen or Snowmass Village. It will transferable development right, or TDR, used to affect Redstone, where there has been vigorous increase the house size elsewhere in the county debate among residents about rentals.

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