Real Estate In The News And Second Quarterly Market Report - July 2020 by Mountain & Valley

Real Estate In The News & Quarterly Market Updates July 2020

New Listing 332 W Main Street 101A, Aspen — $2,800,000 This is an opportunity to own a commercial building, rather than owning just a space within—and this isn’t just any building. This is a landmark Victorian on Main Street with a West End address. Hailing from a different era, this grand dame exudes charm with high ceilings, oak floors, tall windows, gracious porch and all the trim work you’d expect in a building of this time period, while still being incredibly functional. Used currently as a medical center, the property has the flexibility to suit almost any business with multiple rooms on each floor. Full height in basement means great storage. Triple Net lease in place until July 2024. Please do not disturb the tenant. This is a working business with customers. Call listing broker for showings and financial details. Tenant has right of first refusal.

Happy July Everyone! The quarterly reports are out! It’s impressive but not surprising how quickly we are catching up when due to Covid 19 we were unable to sell real estate from mid-March to June. We, the real estate brokerage community were unsure of what was going to happen. Were values going to plummet? It quickly became clear that we were going to rebound due to the influx of Buyers moving not only from major hubs, like Miami, Los Angelos, Houston, Dallas, Chicago, Phoenix, and New York, but also Denver and other larger cities around our state. It started like wildfire in the lower Valley, and slowly the activity made it’s way up to Aspen. Across the board inventory is down, and in some cases there have been competing offers for the same property. The over $20 million listings are seeing a number of sales, and properties in outlying areas that normally can take years to sell in a 2nd Home Market are now pending. There are still many well-valued properties for sale, but I do not expect those to last long. Please let me know if you’d like to take a look at property. Or perhaps you’d like to get a Market Analysis to determine the value of your property in this tight environment! Best,

ASPEN

Penthouse Sale Sets Records The penthouse atop Dancing Bear Aspen sold recently for $18.3 million, or more than $6,000 per square foot, the Aspen Daily News reported. While the square footage price is being touted as a new Aspen record — it could not be independently confirmed — what’s also notable is that the new owner bought all eight shares of the luxury downtown Aspen fractional project sight unseen and within two weeks from when the property was reintroduced to the market. The penthouse, which in addition to its 3,000 square feet of interior space, has a 3,500-square-foot deck that spans the entire fourth floor of the Dancing Bear’s Mountainside building. It’s located on the former Chart House restaurant site.

Wheeler Opera House to Get a Facelift Anticipating that there will be no live performances at the Wheeler Opera House for the rest of the year due to COVID-19 concerns, it will receive a high-impact exterior masonry project instead, the Aspen Times reported. The project was scheduled to begin in the spring of 2021, with multiple closures over multiple years. The sandstone is cracking, and bricks are being displaced on the facade of the historically designated 130-year-old building, which requires specialty masonry contractors for restoration. Because the work will be visually and audibly impactful with lots of dust, the significant aspects of the project will begin in late August or early September to give businesses and

restaurants a break from the work during the summer. Saturday Market Will Operate with Rules The Aspen Saturday Market returns this summer, with social distancing and crowd regulation in place, the Aspen Daily News reported. There are entrances and exits at Hyman Avenue and Galena Street and Hopkins Avenue and Galena Street, and 50 people are allowed on each street at a time. Staff stationed at the portals help regulate the crowds. In compliance with Pitkin County Public Health Orders, a total of 35 vendors will offer agricultural items and fresh baked goods. Cash or credit cards will be accepted, and the market is open each Saturday until 1 p.m.

Local Market Update for June 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Aspen June

Single Family

Year to Date Percent Change from Previous Year

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

Key Metrics

2019

2020

New Listings

0.0%

- 24.1%

Sold Listings

- 16.7%

- 51.0%

Median Sales Price*

$4,025,000

$11,000,000

+ 173.3%

$5,500,000

$6,500,000

+ 18.2%

Average Sales Price*

$7,399,167

$11,090,000

+ 49.9%

$7,330,056

$8,308,859

+ 13.4%

91.1%

83.2%

- 8.7%

91.3%

87.3%

- 4.4%

233

251

+ 7.7%

266

199

- 25.2%

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

176

131

- 25.6%

Months Supply of Inventory

21.3

21.5

+ 0.9%

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

June

Townhouse/Condo

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

- 37.0%

- 27.3%

Sold Listings

- 12.5%

- 45.9%

Median Sales Price*

$1,961,250

$735,000

- 62.5%

$1,848,750

$2,162,500

+ 17.0%

Average Sales Price*

$2,471,938

$3,794,233

+ 53.5%

$2,213,580

$4,403,228

+ 98.9%

97.1%

91.2%

- 6.1%

95.1%

92.6%

- 2.6%

109

141

+ 29.4%

155

153

- 1.3%

Percent of List Price Received* Days on Market Until Sale

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

Inventory of Homes for Sale

125

104

- 16.8%

Months Supply of Inventory

10.1

11.7

+ 15.8%

* 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 —

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

$7,000,000

$2,000,000

$6,000,000

$1,750,000

$5,000,000

$1,500,000

$4,000,000

$1,250,000

$3,000,000

$1,000,000

$2,000,000

$750,000

$1,000,000

$500,000

$0 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$250,000 1-2015

1-2016

1-2017

1-2018

Entire MLS — Aspen —

1-2019

1-2020

SNOWMASS

Lost Forest Opens with Restrictions Because of the pandemic there will be new ways of doing business and enjoying the Lost Forest this summer, the Aspen Daily News reported. The Lost Forest’s attractions continue daily through Sept. 7 with regulations in place, which include employees in face coverings, socially distanced parties on the gondola and increased cleaning for all rides and attractions, like the climbing wall and alpine coaster. Taster’s Expands in Snowmass Village The owner of the popular Italian food eatery, Taster’s, that has had the corner spot in the center for the past 19 years is planning to take over an additional 1,300 square feet in the space that was home to another locals’

hangout for Snowmass residents, The Village Tavern, the Aspen Times reported. The Tavern, formerly the Mountain Bayou among other eateries through the years, will not reopen. We-Cycle Launches in Snowmass Village WE-cycle re-launched its bike-sharing program throughout the valley, with a new presence in Snowmass Village, the Aspen Times reported. Two docking stations were installed in Snowmass, with one located near the Club Commons complex and the other at Town Park. The locations are strategically placed so the 15 available bikes can be used for commuting to Roaring Fork Transportation Authority bus stations. The 234 bikes in the WE-cycle fleet will be available throughout Aspen, Snowmass Village, Basalt, the Willits area and El Jebel.

Local Market Update for June 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Snowmass Village June

Single Family

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

- 35.7%

- 42.9%

- 60.0%

- 63.2%

+ 4.2%

$2,687,500

$2,375,000

- 11.6%

$2,485,000

- 21.6%

$3,682,137

$3,177,000

- 13.7%

85.6%

- 8.2%

93.0%

92.8%

- 0.2%

- 55.6%

172

136

- 20.9%

Key Metrics

2019

New Listings

Sold Listings

Median Sales Price*

$2,385,000

$2,485,000

Average Sales Price*

$3,168,750 93.2% 223

Percent of List Price Received* Days on Market Until Sale

Year to Date

2020

Percent Change from Previous Year

Inventory of Homes for Sale

- 33.3%

Months Supply of Inventory

21.8

12.8

- 41.3%

* 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

2019

2020

Percent Change from Previous Year

New Listings

+ 100.0%

- 14.1%

Sold Listings

- 14.3%

- 21.5%

Median Sales Price*

$1,010,000

$730,000

- 27.7%

$697,500

$834,954

+ 19.7%

Average Sales Price*

$1,340,500

$906,667

- 32.4%

$1,056,560

$1,281,607

+ 21.3%

91.6%

91.9%

+ 0.3%

96.3%

93.4%

- 3.0%

192

205

+ 6.8%

201

249

+ 23.9%

Percent of List Price Received* Days on Market Until Sale

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

Inventory of Homes for Sale

150

122

- 18.7%

Months Supply of Inventory

11.8

12.8

+ 8.5%

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

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Snowmass Village —

$4,000,000

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

Entire MLS — Snowmass Village —

$900,000

$800,000 $3,000,000 $700,000 $2,000,000

$600,000

$500,000 $1,000,000 $400,000 $0 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$300,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

Local Market Update for June 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Old Snowmass June

Single Family

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

- 57.1%

- 61.1%

Sold Listings

0.0%

+ 42.9%

Median Sales Price*

$1,312,500

$2,162,500

+ 64.8%

$1,025,000

$2,593,750

+ 153.0%

Average Sales Price*

$1,312,500

$2,162,500

+ 64.8%

$1,806,429

$3,483,530

+ 92.8%

94.4%

79.4%

- 15.9%

91.1%

90.5%

- 0.7%

330

383

+ 16.1%

191

242

+ 26.7%

Percent of List Price Received* Days on Market Until Sale

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

Inventory of Homes for Sale

- 67.6%

Months Supply of Inventory

19.6

6.7

- 65.8%

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

June

Townhouse/Condo

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

- 100.0%

+ 33.3%

Sold Listings

- 100.0%

Median Sales Price*

$213,000

- 100.0%

Average Sales Price* Percent of List Price Received*

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

$213,000

- 100.0%

0.0%

96.8%

0.0%

- 100.0%

Days on Market Until Sale Inventory of Homes for Sale

Months Supply of Inventory

0.0

2.0

* 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 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$0 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

BASALT Swinging Bridge Connects More Parking to Downtown Downtown Basalt will get a new pedestrian connector trail this summer in an effort to alleviate some of the congested parking that the town’s Midland Avenue is experiencing, the Aspen Daily News reported. In just two months, the project is moving forward, connecting the underutilized Basalt Elementary School parking lot with a downtown. The new “urban trail connection,” which spans 420 linear feet takes about two minutes to travel on foot, and crosses a swinging bridge.

The Contemporary Breaks Ground The Arts Campus at Willits broke ground in late June in pursuit of a goal that was set nearly 20 years ago, the Aspen Times reported. Grading and other work started on a performing arts center that will be completed in spring 2021. The arts center is being constructed in Willits Town Center, along Willits Lane. The town of Basalt granted a long-term lease for the site. The center is called The Contemporary. It will be a sustainable, all-electric, energy-eﬃcient building with a multi-purpose theater seating 275 or 400 standing. The facility also will have a community room for civic and educational events, co-workspace for arts and culture uses, catering kitchen for event support and outdoor performance space. TACAW has raised $3.5 million so far and the nonprofit organization has financing available through the Colorado Educational and Cultural Facilities Authority and Alpine Bank, if needed. It is aiming to raise $5.8 million for the project.

Basalt Could See More Aﬀordable Housing A 75-unit affordable housing project for Willits Bend proposed by Archdiocesan Housing Inc., an aﬃliate of Catholic Charities, is being reviewed by Eagle County, the Aspen Daily News reported. The county on June 1 lifted its development moratorium. That has allowed planning and review of the proposed rental housing project — which would be located midway between downtown Basalt and Willits Basalt to Get Upgraded Hiking Trail Town Center — to continue. Basalt will gain a hiking trail by fall that will An amendment to Willits Bend’s 2006 planned take pressure off the popular Arbaney Kittle unit development is sought to accommodate route, the Aspen Times reported. The Bureau Archdiocesan Housing’s proposal. The 75 units of Land Management approved the relocation of housing, located near the intersection of of a trail up Light Hill from a trailhead behind Willits and Widget lanes, would have as their Basalt High School. There is an existing trail, neighbors the three existing Willits Bend but it heads straight up a fall line and is buildings, Aspen Skiing Co.’s tiny homes and rutted up to 4 feet deep in spots. A new trail Umbrella Roofing. approximately 1.2 miles long will be built.

Local Market Update for June 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Basalt June

Single Family

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

- 57.1%

Sold Listings

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

- 40.6%

- 12.5%

+ 4.2%

Median Sales Price*

$862,750

$700,000

- 18.9%

$1,057,500

$1,051,000

- 0.6%

Average Sales Price*

$878,281

$1,691,429

+ 92.6%

$1,294,440

$1,413,260

+ 9.2%

94.9%

91.2%

- 3.9%

95.4%

94.5%

- 0.9%

266

+ 220.5%

128

185

+ 44.5%

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

- 50.7%

Months Supply of Inventory

13.8

7.2

- 47.8%

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

June

Townhouse/Condo

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

0.0%

Sold Listings

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

0.0%

+ 100.0%

0.0%

Median Sales Price*

$520,000

0.0%

$565,000

$546,500

- 3.3%

Average Sales Price*

$559,800

$731,710

+ 30.7%

$639,198

$737,316

+ 15.4%

98.0%

93.1%

- 5.0%

97.1%

95.6%

- 1.5%

212

+ 118.6%

113

138

+ 22.1%

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

- 32.0%

Months Supply of Inventory

9.2

5.1

- 44.6%

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

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Basalt —

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

$1,200,000

$600,000

$1,000,000

$550,000

$800,000

$500,000

$600,000

$450,000

$400,000

$200,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$350,000 1-2015

1-2016

1-2017

1-2018

Entire MLS — Basalt —

1-2019

1-2020

Local Market Update for June 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Missouri Heights June

Single Family

Year to Date Percent Change from Previous Year

2019

New Listings

- 46.7%

- 45.2%

Sold Listings

+ 50.0%

- 21.1%

Median Sales Price*

$710,300

$1,351,500

+ 90.3%

$926,250

$1,025,000

+ 10.7%

Average Sales Price*

$697,775

$1,390,209

+ 99.2%

$1,002,256

$1,304,250

+ 30.1%

92.2%

95.5%

+ 3.6%

94.4%

94.3%

- 0.1%

128

+ 96.9%

147

196

+ 33.3%

Percent of List Price Received* Days on Market Until Sale

2020

Percent Change from Previous Year

Key Metrics

Thru 06-2019

Thru 6-2020

Inventory of Homes for Sale

- 56.0%

Months Supply of Inventory

14.9

5.9

- 60.4%

* 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

2019

2020

Percent Change from Previous Year

New Listings

Sold Listings

Median Sales Price*

Average Sales Price* Percent of List Price Received*

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

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 — Missouri Heights —

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

$1,200,000

$500,000

$1,000,000

$400,000

$800,000

$300,000

$600,000

$200,000

$400,000

$100,000

$200,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$0 1-2015

1-2016

1-2017

1-2018

Entire MLS — Missouri Heights —

1-2019

1-2020

CARBONDALE

Dining, Retail Expand into the Street The town of Carbondale opened its streets and parking areas for expanded outdoor commerce in order to meet social distancing requirements and occupancy limitations, the Aspen Daily News reported. From Main Street between Third and Fourth streets turned into a one way with traffic heading eastbound. Also, Main Street, between Third and Fourth streets, is closed entirely from 5-9 p.m. every Friday and Saturday night for the foreseeable future.

Building Warehouse May Come to Carbondale Builders FirstSource received its first pass from planning and zoning to build a lumber yard showroom, an oﬃce building and a warehouse, the Sopris Sun reported. Presently, the company has two lumber facilities in the area — Glenwood Springs and Aspen — and a Basalt showroom. Builders plans to consolidate operations in Carbondale. The total size of the building encompasses 29,240 square feet with three components: a 3,240 square foot showroom for building materials, a 9,000 square foot oﬃce/retail building and a 17,000 square foot warehouse.

Local Market Update for June 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Carbondale June

Single Family

Year to Date Percent Change from Previous Year

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

Key Metrics

2019

2020

New Listings

- 43.2%

143

100

- 30.1%

Sold Listings

+ 80.0%

0.0%

Median Sales Price*

$877,500

$903,000

+ 2.9%

$790,000

$975,000

+ 23.4%

Average Sales Price*

$939,914

$1,038,695

+ 10.5%

$927,796

$1,081,225

+ 16.5%

97.8%

96.4%

- 1.4%

96.2%

95.6%

- 0.6%

Days on Market Until Sale

148

124

- 16.2%

130

158

+ 21.5%

Inventory of Homes for Sale

131

- 58.0%

Months Supply of Inventory

9.9

3.9

- 60.6%

Percent of List Price Received*

* 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

Thru 6-2020

Percent Change from Previous Year

- 33.8%

0.0%

$476,000

$495,000

+ 4.0%

- 7.4%

$563,187

$589,791

+ 4.7%

- 3.0%

98.6%

98.3%

- 0.3%

- 46.3%

107

- 10.3%

Key Metrics

2019

New Listings

- 70.8%

Sold Listings

- 11.1%

Median Sales Price*

$549,000

$500,000

- 8.9%

Average Sales Price*

$619,167

$573,594

98.4%

95.4%

121

Percent of List Price Received* Days on Market Until Sale

2020

Year to Date Percent Change from Previous Year

Thru 06-2019

Inventory of Homes for Sale

- 31.6%

Months Supply of Inventory

7.1

3.9

- 45.1%

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

Median Sales Price – Single Family Rolling 12-Month Calculation

Entire MLS — Carbondale —

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

$1,000,000

$525,000

$900,000

$500,000

$800,000

$475,000

$700,000

$450,000

$600,000

$425,000

$500,000

$400,000

$375,000

$300,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$350,000 1-2015

1-2016

1-2017

1-2018

Entire MLS — Carbondale —

1-2019

1-2020

GLENWOOD SPRINGS

Canyon Project on Track The eight-month-long Glenwood Canyon Surface Improvements project is on schedule, but CDOT is asking motorists to continue to drive slowly in the cone zone and where the head-to-head detour remains in place, the Aspen Daily News reported. In June, the westbound on-ramp from the Grizzly Creek rest area to I-70 was reopened. The canyon’s head-to-head detour remains in effect Mondays through Thursdays, and Fridays until 1 p.m. On Fridays and continuing throughout the weekends, westbound traﬃc will be routed to a single lane on the westbound deck and eastbound traﬃc will be routed through a single lane on the eastbound deck. The project is anticipated for

completion in October 2020. Amtrak Decreases Daily Service Amtrak’s California Zephyr daily service to Glenwood Springs will be reduced to three times a week starting Oct. 1, the Aspen Times reported. Because of COVID-19’s long-term impact on ridership, Amtrak is adjusting its northeast corridor and state-supported services as well as reducing its long-distance train services. Running from Chicago to San Francisco, the California Zephyr line brings thousands of visitors to Glenwood Springs each year and is the primary means of transport for the city’s thriving Amish tourism sector, which does not use modern modes of travel.

Local Market Update for June 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Glenwood Springs June

Single Family

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

+ 20.7%

129

125

- 3.1%

Sold Listings

0.0%

+ 14.7%

Median Sales Price*

$565,000

$689,000

+ 21.9%

$580,750

$627,500

+ 8.0%

Average Sales Price*

$590,132

$710,539

+ 20.4%

$617,578

$643,839

+ 4.3%

97.4%

97.0%

- 0.4%

97.7%

0.0%

+ 59.0%

- 22.6%

Percent of List Price Received* Days on Market Until Sale

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

Inventory of Homes for Sale

- 46.4%

Months Supply of Inventory

6.0

3.2

- 46.7%

* 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

Percent Change from Previous Year

Key Metrics

2019

New Listings

- 53.8%

- 37.0%

Sold Listings

- 55.6%

- 36.2%

Median Sales Price*

$350,000

$397,750

+ 13.6%

$329,000

$331,000

+ 0.6%

Average Sales Price*

$335,722

$421,625

+ 25.6%

$312,511

$329,643

+ 5.5%

98.9%

98.2%

- 0.7%

97.7%

98.6%

+ 0.9%

- 34.4%

- 34.1%

Percent of List Price Received* Days on Market Until Sale

2020

Year to Date Percent Change from Previous Year

Thru 06-2019

Thru 6-2020

Inventory of Homes for Sale

- 63.9%

Months Supply of Inventory

5.0

1.9

- 62.0%

* 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 — Glenwood Springs —

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

$600,000

$500,000

$550,000

$450,000

$500,000

$400,000

$450,000

$350,000

$400,000

$300,000

$350,000

$250,000

$300,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$200,000 1-2015

1-2016

1-2017

1-2018

Entire MLS — Glenwood Springs —

1-2019

1-2020

PITKIN COUNTY

Skier Numbers Down 20% COVID-19 put a hard stop to a ski season that began with tremendous promise, and the March 15 closure of Aspen’s four ski areas accounted for at least a 20% loss in business over last year, the Aspen Daily News reported. That is higher than the average 14% decline reported by the National Ski Areas Association of its 470 U.S. member resorts, but in line with the percentage drop felt by some comparable destination resorts. There were 1.156 million tickets sold in AspenSnowmass’ pandemic-shortened season. In 2018-19, which shattered a 21-year record, the local resorts accounted for 1.455 million skier days. NSAA reported that the 14 percent drop in skier visits for the 2019-20 season, to 51.1 million, could be responsible for losses industrywide of between $2-5 billion. Public Lands Use Explodes As people were told to recreate close to home this spring, the number of users on public lands significantly increased, and so did enforcement, the Aspen Times reported. The number of enforcement contacts — in which rangers had to remind people of the rules through a simple conversation, a warning, or a ticket — exploded in the spring, especially in May. From March 1 through the end of May,

rangers had an enforcement contact with 385 trail users. Over the same period last year, rangers had contact with only 52 people. In May, rangers lectured 146 people before they violated a rule and warned 51 users either verbally or on paper. But sometimes a rule violation leads to a ticket — last month, 15 people received a penalty assessment. In May 2019, only two tickets were handed out. North Star Management Plan Approved Pitkin County commissioners unanimously approved a new management plan for the North Star Nature Preserve that updates and tightens the rules for the popular float area east of Aspen, the Aspen Times reported. Much of the controversy surrounding the booming popularity of boating and paddle boarding the preserve relates to parking, which appears to be improving thanks to new signs provided by the Colorado Department of Transportation directing where people can and cannot park. However, other changes will include making most of the float a quiet zone — previously the quiet zone was only around an area where herons lived — the installation of a portable bathroom at the Wildwood put-in and increased enforcement that already includes issuing tickets to violators.

Local Market Update for June 2020 A Research Tool Provided by the Colorado Association of REALTORS®

New Castle June

Single Family

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

+ 12.5%

- 24.7%

Sold Listings

- 60.0%

- 23.4%

Median Sales Price*

$346,500

$386,000

+ 11.4%

$395,000

$409,000

+ 3.5%

Average Sales Price*

$401,033

$380,150

- 5.2%

$438,170

$416,303

- 5.0%

99.5%

98.6%

- 0.9%

98.7%

98.5%

- 0.2%

Days on Market Until Sale

- 14.3%

+ 8.1%

Inventory of Homes for Sale

- 62.5%

Months Supply of Inventory

4.6

2.0

- 56.5%

Percent of List Price Received*

Thru 06-2019

Thru 6-2020

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

2019

2020

Percent Change from Previous Year

New Listings

+ 71.4%

- 30.6%

Sold Listings

- 28.6%

- 41.2%

Median Sales Price*

$315,500

$315,000

- 0.2%

$312,000

$312,250

+ 0.1%

Average Sales Price*

$308,271

$317,400

+ 3.0%

$298,509

$296,800

- 0.6%

99.7%

99.6%

- 0.1%

99.4%

99.2%

- 0.2%

Days on Market Until Sale

+ 9.6%

+ 30.4%

Inventory of Homes for Sale

- 27.8%

Months Supply of Inventory

3.2

2.7

- 15.6%

Percent of List Price Received*

Thru 06-2019

Thru 6-2020

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 —

$450,000

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

Entire MLS — New Castle —

$500,000

$425,000 $400,000

$400,000 $375,000

$300,000 $350,000 $325,000

$200,000

$300,000 $275,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$100,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

Local Market Update for June 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Silt June

Single Family

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

- 13.3%

- 25.4%

+ 14.3%

- 30.2%

- 7.1%

$375,000

$413,000

+ 10.1%

$455,488

+ 5.7%

$391,992

$439,877

+ 12.2%

98.9%

+ 1.9%

98.3%

97.9%

- 0.4%

- 31.5%

- 24.3%

Key Metrics

2019

2020

New Listings

Sold Listings

Median Sales Price*

$409,000

$380,000

Average Sales Price*

$430,929 97.1% 73

Percent of List Price Received* Days on Market Until Sale

Year to Date Percent Change from Previous Year

Inventory of Homes for Sale

- 63.2%

Months Supply of Inventory

4.8

2.4

- 50.0%

* 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 Percent Change from Previous Year

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

Key Metrics

2019

2020

New Listings

- 100.0%

+ 10.0%

Sold Listings

+ 300.0%

- 71.4%

Median Sales Price*

$289,500

$255,000

- 11.9%

$291,250

$255,000

- 12.4%

Average Sales Price*

$289,500

$237,250

- 18.0%

$286,171

$237,250

- 17.1%

101.6%

98.5%

- 3.1%

98.8%

98.5%

- 0.3%

- 3.3%

- 31.8%

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

+ 100.0%

Months Supply of Inventory

0.8

2.0

+ 150.0%

* 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 — Silt —

$450,000

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

Entire MLS — Silt —

$500,000

$400,000

$350,000 $300,000 $300,000 $200,000

$250,000

$200,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$100,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

Local Market Update for June 2020 A Research Tool Provided by the Colorado Association of REALTORS®

Rifle June

Single Family

Year to Date

Key Metrics

2019

2020

Percent Change from Previous Year

New Listings

- 15.4%

Sold Listings

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

127

102

- 19.7%

- 14.3%

Median Sales Price*

$305,000

$323,950

+ 6.2%

$315,000

$323,950

+ 2.8%

Average Sales Price*

$307,936

$343,689

+ 11.6%

$332,912

$340,578

+ 2.3%

98.5%

99.5%

+ 1.0%

98.5%

98.4%

- 0.1%

- 38.1%

- 3.8%

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

- 59.6%

Months Supply of Inventory

3.5

1.6

- 54.3%

* 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

2019

2020

Percent Change from Previous Year

New Listings

- 63.6%

Sold Listings

Thru 06-2019

Thru 6-2020

Percent Change from Previous Year

- 24.3%

0.0%

- 4.8%

Median Sales Price*

$208,750

$249,250

+ 19.4%

$205,000

$206,500

+ 0.7%

Average Sales Price*

$196,583

$239,167

+ 21.7%

$193,876

$206,300

+ 6.4%

100.2%

99.3%

- 0.9%

99.4%

97.6%

- 1.8%

- 66.7%

- 38.2%

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

- 41.7%

Months Supply of Inventory

3.0

1.4

- 53.3%

* 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 — Rifle —

$450,000

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

Entire MLS — Rifle —

$500,000

$400,000

$350,000 $300,000 $300,000 $200,000

$250,000

$200,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

$100,000 1-2015

1-2016

1-2017

1-2018

1-2019

1-2020

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