Real Estate In The News
Quarterly Market Reports July 2021
“Rest is not idleness, and to lie sometimes on the grass under trees on a summer’s day, listening to the murmur of the water, or watching the clouds float across the sky, is by no means a waste of time.” - John Lubbock. 2021 has been no less impressive in sales than in 2020 with some properties going under contract as fast as brokers and sellers can read through the offers, while a few ambitiously priced homes are lingering on the market. This is happening throughout the Roaring Fork Valley from Aspen to New Castle. Marketing has changed as well with properties being offered first as private listings or going pending before even making it to the MLS.
Aspen Red Mountain Home Sells for Record-Breaking $72.5 Million A Red Mountain home and guesthouse sold for $72.5 million, making it the most expensive real estate transaction in Pitkin County history, the Aspen Daily News reported. The property was purchased by Patrick Dovigi, a Canadian who was a former professional hockey player who is now founder, president and CEO of Green for Life Environmental, a North American waste management company worth an estimated $6.1 billion. The home, at 419 Willoughby Way, encompasses 21,477 square feet with nine bedrooms and 13 bathrooms on 4.5 acres. It was built in 2006 and designed by Charles Cunniffe Architects. The home was remodeled in 2011. It also includes a 948-square-foot guesthouse. The property’s 2021 assessed value is $64,899,300. Slate of Aspen Restaurants Closing or Changing Hands Several Aspen restaurants announced their closings or sales in recent months, the Aspen Daily News reported. After nearly a quarter-century of cultivating and serving the community, Jimmy’s An American Restaurant and Bar will close for good this fall. An Austin, Texas-based hospitality group that owns Clark’s Oyster Bar will take over the restaurant and is planning a Mexican concept for the space. Louis Swiss Pastry, a commercial and wholesale bakery shop at the Airport Business Center, is being purchased by a local executive chef and business partner. It has been owned and operated by Felix Tornare for almost 39 years. Plans for the new owners include building out a cafe and increasing retail business. In other Aspen restaurant news, Tatanka Western Bistro recently changed hands, though what will occupy the downtown space remains to be seen. Over on the Hyman Mall, what’s been known for several years as Hops Culture rebranded and reopened as “Idylwilde,” in partnership with the Carbondale-based brewing company of the same name. Snow Queen Lodge Sells Two neighboring Victorian bed-and-breakfasts in Aspen are under the same ownership after the Snow Queen Lodge sold for $7.625 million to a buyer connected to a private equity firm in California, the Aspen Times reported. The new owner is a limited liability company corporation called Aspen Snow Queen Holdings, which public records link to the same Santa Monica address used by the LLC that acquired the Little Red Ski Haus for $8.9 million in January. Both Victorians on the 100 block of East Cooper Avenue were originally built in the 1880s, and both come with development restrictions. Each property also has gone through rounds of remodels and refurbishing over the years. The Snow Queen property also includes a single-family home built in 1994, property records show. Broker Andrew Ernemann, who represented the buyer in the transaction, said the new owner wants to remain private.
Local Market Update for June 2021 A Research Tool Provided by the Colorado Association of REALTORS®
Aspen June
Single Family
Year to Date
Key Metrics
2020
2021
Percent Change from Previous Year
New Listings
30
25
- 16.7%
Sold Listings
Thru 06-2020
Thru 6-2021
Percent Change from Previous Year
67
92
+ 37.3%
5
18
+ 260.0%
25
67
+ 168.0%
Median Sales Price*
$11,000,000
$11,300,000
+ 2.7%
$6,500,000
$9,700,000
+ 49.2%
Average Sales Price*
$11,090,000
$14,507,611
+ 30.8%
$8,308,859
$12,685,024
+ 52.7%
Percent of List Price Received*
83.2%
94.2%
+ 13.2%
87.3%
95.2%
+ 9.0%
Days on Market Until Sale
251
133
- 47.0%
199
177
- 11.1%
Inventory of Homes for Sale
152
84
- 44.7%
--
--
--
Months Supply of Inventory
25.0
4.6
- 81.6%
--
--
--
* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.
June
Townhouse/Condo
Year to Date
Key Metrics
2020
2021
Percent Change from Previous Year
New Listings
20
33
+ 65.0%
Sold Listings
Thru 06-2020
Thru 6-2021
Percent Change from Previous Year
75
130
+ 73.3%
7
16
+ 128.6%
40
107
+ 167.5%
Median Sales Price*
$735,000
$1,462,500
+ 99.0%
$2,162,500
$1,750,000
- 19.1%
Average Sales Price*
$3,794,233
$2,124,509
- 44.0%
$4,403,228
$2,394,045
- 45.6%
Percent of List Price Received*
91.2%
96.3%
+ 5.6%
92.6%
96.4%
+ 4.1%
Days on Market Until Sale
141
93
- 34.0%
153
108
- 29.4%
Inventory of Homes for Sale
117
69
- 41.0%
--
--
--
Months Supply of Inventory
13.1
3.3
- 74.8%
--
--
--
* 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 —
$10,000,000
Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation
Entire MLS — Aspen —
$3,000,000
$2,500,000
$8,000,000
$2,000,000 $6,000,000 $1,500,000 $4,000,000 $1,000,000 $2,000,000
$0 1-2016
$500,000
1-2017
1-2018
1-2019
1-2020
1-2021
$0 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime.
Local Market Update for June 2021 A Research Tool Provided by the Colorado Association of REALTORS®
Woody Creek June
Single Family
Year to Date
Key Metrics
2020
2021
Percent Change from Previous Year
New Listings
2
2
0.0%
Thru 06-2020
Thru 6-2021
Percent Change from Previous Year
4
5
+ 25.0%
Sold Listings
0
2
--
0
3
--
Median Sales Price*
$0
$16,200,000
--
$0
$19,750,000
--
Average Sales Price*
$0
$16,200,000
--
$0
$17,466,667
--
Percent of List Price Received*
0.0%
98.7%
--
0.0%
92.5%
--
Days on Market Until Sale
0
169
--
0
257
--
Inventory of Homes for Sale
7
5
- 28.6%
--
--
--
Months Supply of Inventory
7.0
3.0
- 57.1%
--
--
--
* 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
2020
2021
Percent Change from Previous Year
New Listings
0
0
--
Thru 06-2020
Thru 6-2021
Percent Change from Previous Year
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.
Median Sales Price – Single Family Rolling 12-Month Calculation
Entire MLS — Woody Creek —
$10,000,000
Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation
Entire MLS — Woody Creek —
$700,000 $600,000
$8,000,000 $500,000 $6,000,000
$400,000 $300,000
$4,000,000
$200,000 $2,000,000 $100,000 $0 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
$0 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime.
Snowmass Village GG’s Kitchen Opens with Boutique Items The doors to GG’s Market are officially open for the season, with seven-days-a-week operations in full swing more than a year-and-a-half after the project was announced, the Aspen Times reported. It’s been a long time coming for optimistic shop owner Landon Goldstone, who co-owns GG’s Market and the Aspen and Snowmass Village locations of JUS with his sister Tamara Petit and her partner Mark d’Emden. Picnic-friendly options will ramp up as operations get into full swing. Think sandwiches, picnic baskets and charcuterie boards (with options for humans and for their canine companions). Coffee and breakfast pastries will be available in the morning, and a cold brew coffee cart will be posted up right outside the market for quick access.
Local Market Update for June 2021 A Research Tool Provided by the Colorado Association of REALTORS®
Snowmass Village June
Single Family
Year to Date
Key Metrics
2020
2021
Percent Change from Previous Year
New Listings
10
6
- 40.0%
Sold Listings
Thru 06-2020
Thru 6-2021
Percent Change from Previous Year
25
34
+ 36.0%
2
6
+ 200.0%
7
34
+ 385.7%
Median Sales Price*
$2,485,000
$5,900,000
+ 137.4%
$2,375,000
$5,265,000
+ 121.7%
Average Sales Price*
$2,485,000
$6,268,333
+ 152.2%
$3,177,000
$5,463,868
+ 72.0%
Percent of List Price Received*
85.6%
95.6%
+ 11.7%
92.8%
96.3%
+ 3.8%
Days on Market Until Sale
99
242
+ 144.4%
136
200
+ 47.1%
Inventory of Homes for Sale
53
16
- 69.8%
--
--
--
Months Supply of Inventory
14.7
2.0
- 86.4%
--
--
--
* 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
2020
2021
Percent Change from Previous Year
New Listings
42
22
- 47.6%
Sold Listings
Thru 06-2020
Thru 6-2021
Percent Change from Previous Year
96
170
+ 77.1%
6
14
+ 133.3%
51
130
+ 154.9%
Median Sales Price*
$730,000
$595,500
- 18.4%
$834,954
$805,000
- 3.6%
Average Sales Price*
$906,667
$922,357
+ 1.7%
$1,281,607
$1,287,309
+ 0.4%
Percent of List Price Received*
91.9%
99.1%
+ 7.8%
93.4%
97.3%
+ 4.2%
Days on Market Until Sale
205
90
- 56.1%
249
120
- 51.8%
Inventory of Homes for Sale
149
44
- 70.5%
--
--
--
Months Supply of Inventory
15.7
1.9
- 87.9%
--
--
--
* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.
Median Sales Price – Single Family Rolling 12-Month Calculation
Entire MLS — Snowmass Village —
$5,000,000
Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation
Entire MLS — Snowmass Village —
$900,000
$800,000
$4,000,000
$700,000 $3,000,000 $600,000 $2,000,000 $500,000 $1,000,000
$0 1-2016
$400,000
1-2017
1-2018
1-2019
1-2020
1-2021
$300,000 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime.
Basalt Coffee Shops Opens in Daytime Hours of Thai House Basalt’s Thai House doesn’t open until 5 p.m., so the owners of a new coffee shop forged a creative space-sharing arrangement with them, the Aspen Times reported. Coffee Connections will operate out of the space at unit 103, near Breakfast in America, from 5 a.m. to 2 p.m., seven days per week. Thai House will continue to operate from the same space starting at 5 p.m. Shooting Range Shut Down Amid Fire Concerns With wildfire concerns and risks increasing and Roaring Fork Valley residents on edge, the Basalt shooting range has been closed indefinitely, a Colorado Parks and Wildlife official told the Basalt town council in July, reported by the Aspen Times. With Stage 2 restrictions in effect for Eagle County, the CPW made the decision. The shooting range is the site of where the Lake Christine Fire started in 2018.
Local Market Update for June 2021 A Research Tool Provided by the Colorado Association of REALTORS®
Basalt June
Single Family
Year to Date
Key Metrics
2020
2021
Percent Change from Previous Year
New Listings
12
19
+ 58.3%
43
42
- 2.3%
Sold Listings
7
3
- 57.1%
25
32
+ 28.0%
Median Sales Price*
$700,000
$1,295,000
+ 85.0%
$1,051,000
$1,472,500
+ 40.1%
Average Sales Price*
$1,691,429
$1,740,000
+ 2.9%
$1,413,260
$1,858,047
+ 31.5%
91.2%
92.7%
+ 1.6%
94.5%
95.3%
+ 0.8%
Percent of List Price Received*
Thru 06-2020
Thru 6-2021
Percent Change from Previous Year
Days on Market Until Sale
266
67
- 74.8%
185
142
- 23.2%
Inventory of Homes for Sale
43
24
- 44.2%
--
--
--
Months Supply of Inventory
9.1
3.4
- 62.6%
--
--
--
* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.
June
Townhouse/Condo
Year to Date
2021
Percent Change from Previous Year
Thru 06-2020
Thru 6-2021
Percent Change from Previous Year
Key Metrics
2020
New Listings
14
9
- 35.7%
50
55
+ 10.0%
Sold Listings
11
12
+ 9.1%
30
36
+ 20.0%
Median Sales Price*
$515,000
$620,500
+ 20.5%
$538,250
$620,500
+ 15.3%
Average Sales Price*
$712,009
$744,667
+ 4.6%
$729,906
$696,231
- 4.6%
93.8%
101.5%
+ 8.2%
95.8%
99.2%
+ 3.5%
Percent of List Price Received* Days on Market Until Sale
246
12
- 95.1%
154
61
- 60.4%
Inventory of Homes for Sale
43
14
- 67.4%
--
--
--
Months Supply of Inventory
6.4
1.6
- 75.0%
--
--
--
* 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 — Basalt —
$1,400,000
Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation
Entire MLS — Basalt —
$700,000
$1,200,000 $600,000 $1,000,000
$800,000
$500,000
$600,000 $400,000 $400,000
$200,000 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
$300,000 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime.
Local Market Update for June 2021 A Research Tool Provided by the Colorado Association of REALTORS®
Missouri Heights June
Single Family
Year to Date
Key Metrics
2020
2021
Percent Change from Previous Year
New Listings
8
9
+ 12.5%
Sold Listings
Thru 06-2020
Thru 6-2021
Percent Change from Previous Year
23
27
+ 17.4%
6
3
- 50.0%
15
23
+ 53.3%
Median Sales Price*
$1,351,500
$1,900,000
+ 40.6%
$1,025,000
$1,850,000
+ 80.5%
Average Sales Price*
$1,390,209
$2,396,667
+ 72.4%
$1,304,250
$1,937,364
+ 48.5%
Percent of List Price Received*
95.5%
94.3%
- 1.3%
94.3%
96.2%
+ 2.0%
Days on Market Until Sale
128
389
+ 203.9%
196
134
- 31.6%
Inventory of Homes for Sale
25
18
- 28.0%
--
--
--
Months Supply of Inventory
6.7
4.0
- 40.3%
--
--
--
* 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
2020
2021
Percent Change from Previous Year
New Listings
0
0
--
Thru 06-2020
Thru 6-2021
Percent Change from Previous Year
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.
Median Sales Price – Single Family Rolling 12-Month Calculation
Entire MLS — Missouri Heights —
Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation
$1,750,000
$700,000
$1,500,000
$600,000
Entire MLS — Missouri Heights —
$500,000
$1,250,000
$400,000 $1,000,000 $300,000 $750,000
$200,000
$500,000
$250,000 1-2016
$100,000
1-2017
1-2018
1-2019
1-2020
1-2021
$0 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime.
Carbondale GarCo Votes Down Ascendigo Camp Garfield County Commissioners voted down Ascendigo Autism Services proposal to build a camp facility in Missouri Heights, citing water scarcity and access concerns as issues, the Aspen Daily News reported. Ascendigo Autism Services proposed building a 6,800-square-foot base-camp building for registration, meal service and educational trainings; two 8,500-square-foot lodges to accommodate up to 24 campers and nearly 50 staff members (combined); a 14,000-square-foot activity barn for training and therapy; a 3,500- square-foot residence for an on-site staff family; and a 1,700-square-foot cabin for rent. The Carbondale-based nonprofit would have developed roughly half of the rural-zoned property and would have left its remaining 63 acres as open space. Affordable Housing Completed A little-known nonprofit organization that built the Hunter Longhouse affordable-housing project in Aspen 40 years ago just completed its next project in Carbondale, the Aspen Times reported. Aspen Pitkin Employee Housing Inc. will provide relief for 30 lucky households in July with its Red Hill Lofts affordable housing project. All selected tenants will have household incomes that are 50% or lower of the area median income. Rental assistance vouchers are available on 12 units that will go to households at 30% of area median income. There are 14 studios, 12 one-bedroom units and four two-bedroom units in the complex. The studios will rent starting at $706 per month; the one-bedrooms starting at $751; and the two-bedroom units starting at $892.
Local Market Update for June 2021 A Research Tool Provided by the Colorado Association of REALTORS®
Carbondale June
Single Family
Year to Date
Key Metrics
2020
2021
Percent Change from Previous Year
New Listings
25
23
- 8.0%
102
107
+ 4.9%
Sold Listings
27
11
- 59.3%
75
85
+ 13.3%
Median Sales Price*
$903,000
$1,400,000
+ 55.0%
$975,000
$1,472,500
+ 51.0%
Average Sales Price*
$1,038,695
$1,761,273
+ 69.6%
$1,081,225
$1,551,059
+ 43.5%
96.4%
98.5%
+ 2.2%
95.6%
97.7%
+ 2.2%
Days on Market Until Sale
124
63
- 49.2%
158
68
- 57.0%
Inventory of Homes for Sale
68
45
- 33.8%
--
--
--
Months Supply of Inventory
4.8
2.5
- 47.9%
--
--
--
Percent of List Price Received*
Thru 06-2020
Thru 6-2021
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
2020
2021
Percent Change from Previous Year
New Listings
10
13
+ 30.0%
52
43
- 17.3%
Sold Listings
8
7
- 12.5%
31
46
+ 48.4%
Median Sales Price*
$500,000
$570,000
+ 14.0%
$495,000
$591,750
+ 19.5%
Average Sales Price*
$573,594
$563,285
- 1.8%
$589,791
$625,073
+ 6.0%
95.4%
97.2%
+ 1.9%
98.3%
99.6%
+ 1.3%
Days on Market Until Sale
65
50
- 23.1%
96
85
- 11.5%
Inventory of Homes for Sale
37
14
- 62.2%
--
--
--
Months Supply of Inventory
5.5
1.6
- 70.9%
--
--
--
Percent of List Price Received*
Thru 06-2020
Thru 6-2021
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 —
$1,400,000
Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation
Entire MLS — Carbondale —
$700,000
$1,200,000 $600,000 $1,000,000
$800,000
$500,000
$600,000 $400,000 $400,000
$200,000 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
$300,000 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime.
Glenwood Springs CMC Plans $40 Million in Affordable Housing The Colorado Mountain College board of trustees approved $40 million in certificates of participation to build approximately 150 total affordable housing units at four campuses, the Glenwood Springs Post Independent reported. Between 35 to 40 units will be constructed on CMC-owned land in Steamboat Springs, Vail Valley at Edwards, Spring Valley at Glenwood Springs and Breckenridge & Dillon. The affordable housing projects will be modeled after the apartmentstyle housing units the college built in Breckenridge for upper division students. Housing scarcity throughout Colorado’s high country is compromising the college’s operations, exemplifying the housing crisis’ overall impact.
Local Market Update for June 2021 A Research Tool Provided by the Colorado Association of REALTORS®
Glenwood Springs June
Single Family
Year to Date
Key Metrics
2020
2021
Percent Change from Previous Year
New Listings
38
21
- 44.7%
129
128
- 0.8%
Sold Listings
19
21
+ 10.5%
78
104
+ 33.3%
Median Sales Price*
$689,000
$825,500
+ 19.8%
$627,500
$732,750
+ 16.8%
Average Sales Price*
$710,539
$966,916
+ 36.1%
$643,839
$809,991
+ 25.8%
97.0%
99.3%
+ 2.4%
97.7%
98.3%
+ 0.6%
Days on Market Until Sale
62
66
+ 6.5%
65
48
- 26.2%
Inventory of Homes for Sale
54
18
- 66.7%
--
--
--
Months Supply of Inventory
3.9
0.8
- 79.5%
--
--
--
Percent of List Price Received*
Thru 06-2020
Thru 6-2021
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
2020
2021
Percent Change from Previous Year
New Listings
6
5
- 16.7%
46
41
- 10.9%
Sold Listings
4
14
+ 250.0%
30
38
+ 26.7%
Median Sales Price*
$397,750
$422,500
+ 6.2%
$331,000
$382,500
+ 15.6%
Average Sales Price*
$421,625
$375,286
- 11.0%
$329,643
$377,813
+ 14.6%
98.2%
99.6%
+ 1.4%
98.6%
99.9%
+ 1.3%
Days on Market Until Sale
63
41
- 34.9%
54
31
- 42.6%
Inventory of Homes for Sale
17
8
- 52.9%
--
--
--
Months Supply of Inventory
2.5
1.1
- 56.0%
--
--
--
Percent of List Price Received*
Thru 06-2020
Thru 6-2021
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 — Glenwood Springs —
$700,000
Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation
Entire MLS — Glenwood Springs —
$700,000
$600,000
$600,000
$500,000 $500,000 $400,000 $400,000 $300,000
$300,000 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
$200,000 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime.
Local Market Update for June 2021 A Research Tool Provided by the Colorado Association of REALTORS®
Redstone June
Single Family
Year to Date
Key Metrics
2020
2021
Percent Change from Previous Year
New Listings
1
2
+ 100.0%
Sold Listings
Thru 06-2020
Thru 6-2021
Percent Change from Previous Year
8
14
+ 75.0%
1
2
+ 100.0%
2
11
+ 450.0%
Median Sales Price*
$620,000
$1,497,000
+ 141.5%
$655,000
$900,000
+ 37.4%
Average Sales Price*
$620,000
$1,497,000
+ 141.5%
$655,000
$1,070,931
+ 63.5%
95.5%
91.9%
- 3.8%
94.5%
92.0%
- 2.6%
118
4
- 96.6%
125
43
- 65.6%
Inventory of Homes for Sale
8
5
- 37.5%
--
--
--
Months Supply of Inventory
4.7
2.1
- 55.3%
--
--
--
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
2020
2021
Percent Change from Previous Year
New Listings
0
0
--
Thru 06-2020
Thru 6-2021
Percent Change from Previous Year
0
1
--
Sold Listings
0
0
--
1
1
0.0%
Median Sales Price*
$0
$0
--
$162,000
$295,000
+ 82.1%
Average Sales Price*
$0
$0
--
$162,000
$295,000
+ 82.1%
Percent of List Price Received*
0.0%
0.0%
--
87.8%
101.8%
+ 15.9%
Days on Market Until Sale
0
0
--
280
3
- 98.9%
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.
Median Sales Price – Single Family Rolling 12-Month Calculation
Entire MLS — Redstone —
Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation
$1,000,000
$700,000
$900,000
$600,000
$800,000
$500,000
$700,000
$400,000
$600,000
$300,000
$500,000
$200,000
$400,000
$100,000
$300,000 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
$0 1-2016
1-2017
1-2018
1-2019
Entire MLS — Redstone —
1-2020
1-2021
Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime.
Local Market Update for June 2021 A Research Tool Provided by the Colorado Association of REALTORS®
Marble June
Single Family
Year to Date
Key Metrics
2020
2021
Percent Change from Previous Year
New Listings
1
0
- 100.0%
4
5
+ 25.0%
Sold Listings
1
1
0.0%
4
3
- 25.0%
Median Sales Price*
$500,000
$865,000
+ 73.0%
$737,500
$651,000
- 11.7%
Average Sales Price*
$500,000
$865,000
+ 73.0%
$831,250
$677,000
- 18.6%
92.4%
98.9%
+ 7.0%
91.7%
98.8%
+ 7.7%
Percent of List Price Received* Days on Market Until Sale
Thru 06-2020
Thru 6-2021
Percent Change from Previous Year
281
165
- 41.3%
357
66
- 81.5%
Inventory of Homes for Sale
5
1
- 80.0%
--
--
--
Months Supply of Inventory
4.3
0.8
- 81.4%
--
--
--
* 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
2020
2021
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
--
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
--
--
--
--
Percent of List Price Received*
Thru 06-2020
Thru 6-2021
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 —
$600,000
Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation
Entire MLS — Marble —
$700,000 $600,000
$500,000
$500,000 $400,000
$400,000 $300,000 $200,000
$300,000
$100,000 $200,000 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
$0 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime.
Local Market Update for June 2021 A Research Tool Provided by the Colorado Association of REALTORS®
New Castle June
Single Family
Year to Date
Key Metrics
2020
2021
Percent Change from Previous Year
New Listings
18
12
- 33.3%
58
57
- 1.7%
Sold Listings
6
6
0.0%
36
52
+ 44.4%
Median Sales Price*
$386,000
$612,500
+ 58.7%
$409,000
$507,500
+ 24.1%
Average Sales Price*
$380,150
$589,533
+ 55.1%
$416,303
$539,526
+ 29.6%
98.6%
103.0%
+ 4.5%
98.5%
99.5%
+ 1.0%
Percent of List Price Received*
Thru 06-2020
Thru 6-2021
Percent Change from Previous Year
Days on Market Until Sale
30
6
- 80.0%
80
37
- 53.8%
Inventory of Homes for Sale
21
12
- 42.9%
--
--
--
Months Supply of Inventory
2.8
1.3
- 53.6%
--
--
--
* Does not account for seller concessions and/or down payment assistance. | Activity for one month can sometimes look extreme due to small sample size.
June
Townhouse/Condo
Year to Date
Key Metrics
2020
2021
Percent Change from Previous Year
New Listings
13
10
- 23.1%
36
35
- 2.8%
Sold Listings
5
4
- 20.0%
20
29
+ 45.0%
Median Sales Price*
$315,000
$272,000
- 13.7%
$312,250
$299,000
- 4.2%
Average Sales Price*
$317,400
$287,750
- 9.3%
$296,800
$326,193
+ 9.9%
99.6%
99.2%
- 0.4%
99.2%
100.4%
+ 1.2%
Days on Market Until Sale
57
5
- 91.2%
73
14
- 80.8%
Inventory of Homes for Sale
16
2
- 87.5%
--
--
--
Months Supply of Inventory
3.3
0.4
- 87.9%
--
--
--
Percent of List Price Received*
Thru 06-2020
Thru 6-2021
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 — New Castle —
Median Sales Price – Townhouse-Condo Rolling 12-Month Calculation
$550,000
$700,000
$500,000
$600,000
$450,000
$500,000
$400,000
$400,000
$350,000
$300,000
$300,000 1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
$200,000 1-2016
1-2017
1-2018
1-2019
Entire MLS — New Castle —
1-2020
1-2021
Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime.
Monthly Indicators June 2021
Activity Snapshot
Percent changes calculated using year-over-year comparisons.
New Listings were down 12.4 percent for single family homes and 11.0 percent for townhouse-condo properties. Pending Sales decreased 32.9 percent for single family homes but increased 10.7 percent for townhouse-condo properties. The Median Sales Price was up 41.3 percent to $874,000 for single family homes and 8.4 percent to $530,000 for townhouse-condo properties. Days on Market decreased 9.7 percent for single family homes and 59.0 percent for condo properties.
+ 19.5%
- 51.4%
One-Year Change in Sold Listings All Properties
One-Year Change in Median Sales Price All Properties
One-Year Change in Active Listings All Properties
Residential real estate activity in the counties of Delta, Eagle, Garfield, Gunnison, Mesa, Moffat and Pitkin composed of single-family properties, townhomes and condominiums. Percent changes are calculated using rounded figures.
The increase in sales prices comes with a slight decline in existing home sales nationwide, as homebuyers struggle with declining affordability amid a lack of inventory, forcing some buyers to simply wait it out in hopes of more inventory and less competition. Meanwhile, home builders are trying to meet the increased market demand, with housing starts up 3.6% in May from April, according to the Commerce Department. As we ease into new routines and look forward to a post-pandemic future, one thing remains certain: America desperately needs more homes.
Single Family Market Overview
+ 15.4%
Single Family Market Overview Townhouse-Condo Market Overview New Listings Pending Sales Sold Listings Median Sales Price Average Sales Price Percent of List Price Received Days on Market Until Sale Housing Affordability Index Inventory of Active Listings Months Supply of Inventory Total Market Overview Sold Listings and Inventory by Price Range Glossary of Terms
2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime.
Key metrics by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics
Historical Sparkbars
New Listings 7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
Pending Sales Sold Listings Median Sales Price Avg. Sales Price
6-2020
6-2021
Percent Change
YTD 2020
YTD 2021
Percent Change
177
155
- 12.4%
596
687
+ 15.3%
164
110
- 32.9%
499
605
+ 21.2%
98
93
- 5.1%
374
538
+ 43.9%
$618,750
$874,000
+ 41.3%
$607,500
$772,500
+ 27.2%
$1,349,487 $4,243,827 + 214.5% $1,316,159 $2,763,039 + 109.9%
Pct. of List Price Received Days on Market Affordability Index Active Listings Months Supply
95.8%
98.1%
+ 2.4%
96.2%
97.8%
+ 1.7%
103
93
- 9.7%
106
82
- 22.6%
63
44
- 30.2%
64
50
- 21.9%
475
269
- 43.4%
--
--
--
6.5
2.4
- 63.1%
--
--
--
Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime. | 2
Townhouse-Condo Market Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics
Historical Sparkbars
New Listings 7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
7-2019
11-2019
3-2020
7-2020
11-2020
3-2021
6-2020
6-2021
Percent Change
YTD 2020
YTD 2021
Percent Change
109
97
- 11.0%
398
522
+ 31.2%
75
83
+ 10.7%
256
527
+ 105.9%
51
79
+ 54.9%
227
431
+ 89.9%
$489,000
$530,000
+ 8.4%
$500,000
$640,000
+ 28.0%
$981,921
$878,652
- 10.5%
95.4%
99.2%
+ 4.0%
95.9%
98.2%
+ 2.4%
122
50
- 59.0%
135
86
- 36.3%
89
82
- 7.9%
87
69
- 20.7%
398
155
- 61.1%
--
--
--
8.1
1.9
- 76.5%
--
--
--
Pending Sales Sold Listings Median Sales Price Avg. Sales Price Pct. of List Price Received Days on Market Affordability Index Active Listings Months Supply
$1,333,630 $1,189,645
- 10.8%
New Listings Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime. | 3
June
Year to Date 763
205
687 177
596
155
522
483 114
109
398
97
Jun-19
Jun-20
Jun-21
Jun-19
Jun-20
Jun-21
Jun-19
Jun-20
Jun-21
Jun-19
Jun-20
Jun-21
- 6.4%
- 13.7%
- 12.4%
0.0%
- 4.4%
- 11.0%
- 5.9%
- 21.9%
+ 15.3%
- 7.5%
- 17.6%
+ 31.2%
Single Family
Townhouse-Condo
Single Family
New Listings
Single Family
Percent Change from Previous Year
TownhouseCondo
Percent Change from Previous Year
+47.7%
Jul-2020
206
+34.6%
127
Aug-2020
190
+45.0%
120
+42.9%
Sep-2020
122
+60.5%
96
+71.4%
Oct-2020
126
+68.0%
83
+80.4%
Nov-2020
93
+40.9%
81
+58.8%
Dec-2020
82
+13.9%
52
-16.1%
Jan-2021
68
-20.9%
69
+15.0% +100.0%
Feb-2021
116
+81.3%
120
Mar-2021
122
+38.6%
86
+45.8%
Apr-2021
104
+70.5%
77
+108.1%
May-2021
122
+1.7%
73
0.0%
Jun-2021
155
-12.4%
97
-11.0%
126
+28.8%
90
+38.1%
12-Month Avg
Townhouse-Condo
Historical New Listings by Month
Single Family
Townhouse-Condo
250
200
150
100
50
0 1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime. | 4
Sold Listings Year to Date
June
538 100
98
93
431
428 79
374 316
52
51
227
Sold Listings
Single Family
Percent Change from Previous Year
TownhouseCondo
Percent Change from Previous Year
Jul-2020
138
+76.9%
72
+18.0%
Aug-2020
162
+74.2%
89
+27.1%
Sep-2020
150
+87.5%
123
+80.9%
Oct-2020
144
+46.9%
118
+103.4%
Nov-2020
110
+54.9%
83
+43.1%
Dec-2020
115
+33.7%
71
+47.9%
Jan-2021
68
+44.7%
50
-2.0%
Feb-2021
77
+63.8%
46
+17.9%
Mar-2021
96
+39.1%
88
+131.6%
Apr-2021
108
+66.2%
96
+300.0%
May-2021
96
+100.0%
72
+200.0%
93
-5.1%
79
+54.9%
113
+54.2%
82
+67.3%
Jun-2021 Jun-19
+ 5.3%
Jun-20
Jun-21
Jun-19
Jun-20
Jun-21
Jun-19
- 2.0%
- 5.1%
- 17.5%
- 1.9%
+ 54.9%
- 4.0%
Single Family
Townhouse-Condo
Jun-20
Jun-21
Jun-19
Jun-20
Jun-21
- 12.6%
+ 43.9%
+ 2.6%
- 28.2%
+ 89.9%
Single Family
12-Month Avg
Townhouse-Condo
Historical Sold Listings by Month
Single Family
Townhouse-Condo
175 150 125 100 75 50 25 0 1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
1-2021
Current as of July 6, 2021. All data from the Aspen/Glenwood Springs MLS Inc. Report © 2021 ShowingTime. | 6
Pitkin County Pitkin County Landfill Expansion to Begin The long-awaited expansion of the Pitkin County Landfill began in June, and will provide about six more years of life to the rapidly filling facility, the Aspen Times reported. The nearly $2 million project will increase the size of the landfill by about 5 acres and the capacity by approximately 900,000 cubic yards, though the current construction boom in the upper Roaring Fork Valley could eat into that predicted six more years of space. Construction and demolition debris, which makes up the majority of the deposits in the landfill, is already up 3% over 2019, Not yet included in the totals is the complete demolition of two local hotels — the Molly Gibson Lodge and the Hotel Aspen — which has been approved and is almost guaranteed to significantly increase the debris deposited in the landfill. Pandora’s Gets P&Z’s OK Aspen Skiing Co.’s second attempt to win approval for expansion of Aspen Mountain Ski Area into the Pandora’s terrain sailed through the Pitkin County Planning and Zoning Commission, the Aspen Times reported. The U.S. Forest Service also has approved Skico’s request to add 153 acres of standard trails and tree skiing and a high-speed quad chairlift on the upper east side of the ski area as well as a new patrol headquarters at the top terminal of the chairlift, south of the Silver Queen Gondola’s upper terminal. The expansion would add terrain to the south of the existing Walsh’s run. It also would allow trails such as Walsh’s, Hyrup’s and Kristi to extend further down the slope. It will next be reviewed by the Board of Pitkin County Commissioners. High Vaccination Rates in Pitkin County Help with Caseload Despite an influx of summer tourists, the number of COVID-19 cases in Pitkin County remains low. As of early July, 75% of county residents had received a first dose of vaccine, while 56% were fully vaccinated. No one has been hospitalized at Aspen Valley Hospital with COVID-19 in the past two weeks, while cumulative incidence rates and positivity rates remain low. Pitkin County has been averaging 1-to-2 positive cases of the virus per week over the past four weeks, the Aspen Times reported. At the same time, the number of people in Aspen and the rest of the county has been increasing, which is a good sign the spread of the virus remains under control. More than 90% of people confirmed to have COVID-19 who needed to be hospitalized in Colorado during the second week of June had not been vaccinated at all.
Victoria "Tory" Thomas O: 970-925-6060 C: 970-948-1341 Tory@torythomas.net
Gregory "Gus" Kadota O: 970-925-6060 C: 970-379-0553 Gus.Kadota@ SothebysRealty.com