Erik Cavarra discusses valuations for appreciation within Snowmass Village, Colorado.
Today, Erik focuses on the Townhome Market with Average Price Points of $2.5 – $5.5m. All of the following properties are comparable in data with having ski access and similar amenities within the specific locations.
Erik Cavarra explains that when analyzing the market and looking at recent sales and comparing sales values and history, we need to be very careful in how we interpret the market and data. For example, to generalize a specific complex in Snowmass Village, such as the Deerbrook Townhomes, it is often times not prudent to try and generalize appreciation of one complex versus another because of the tremendous amount of distress we have incurred during the downturn in the economy. Meaning, that averages sometimes aren’t really helpful numbers to interpret because one seller may have more distress than another. As an example, an Owl Creek Townhome in its height sold for $5,447,500 or $1,410.54 per foot. The most recent sale just occurred last week for $3,300,000 or $854.48 per foot. Not knowing that this was a “distress” sale would seem to completely generalize the market. However, per the data below you can summarize that there are (5) Active Listings on the Market.
The only market that has showed strong appreciation is in Aspen. Central Core is the leading trend in all categories. It’s more expensive to purchase there, but we have already began to see signs of appreciation.
A look at comparable Slope Side Townhomes in Snowmass Village:
Woodrun V: Average List Price: $932.02 / Average Sold Price: $801.58
- Active Listings: (2)
|
Status |
# Listings |
List Volume |
Sold Volume |
List Price |
Sold Price |
Sale/List Price |
Total SqFt |
List Price Per Total SqFt |
Sold Price Per Total SqFt |
Agent Days On Market |
|
|
Active |
2 |
3,676,000 |
0 |
Low |
1,381,000 |
0 |
0.00 |
1,895 |
652.96 |
0.00 |
87 |
- Sold Listings Since 2011: (3)
|
Status |
# Listings |
List Volume |
Sold Volume |
List Price |
Sold Price |
Sale/List Price |
Total SqFt |
List Price Per Total SqFt |
Sold Price Per Total SqFt |
Agent Days On Market |
|
|
Closed |
3 |
8,090,000 |
6,975,000 |
Low |
1,595,000 |
1,275,000 |
0.80 |
1,952 |
817.11 |
653.18 |
118 |
Owl Creek Townhomes: Average List Price: $1,110.63 / Average Sold Price: $854.48
- Active Listings: (5)
|
Status |
# Listings |
List Volume |
Sold Volume |
List Price |
Sold Price |
Sale/List Price |
Total SqFt |
List Price Per Total SqFt |
Sold Price Per Total SqFt |
Agent Days On Market |
|
|
Active |
5 |
20,545,000 |
0 |
Low |
3,800,000 |
0 |
0.00 |
3,534 |
1,035.73 |
0.00 |
274 |
- Sold Listings Since 2011: (1)
|
Status |
# Listings |
List Volume |
Sold Volume |
List Price |
Sold Price |
Sale/List Price |
Total SqFt |
List Price Per Total SqFt |
Sold Price Per Total SqFt |
Agent Days On Market |
|
|
Closed |
1 |
3,600,000 |
3,300,000 |
Low |
3,600,000 |
3,300,000 |
0.92 |
3,862 |
932.16 |
854.48 |
310 |
Deerbrook Townhomes: Average List Price: $1,098.86 / Average Sold Price: $879.14
- Active Listings: (3)
|
Status |
# Listings |
List Volume |
Sold Volume |
List Price |
Sold Price |
Sale/List Price |
Total SqFt |
List Price Per Total SqFt |
Sold Price Per Total SqFt |
Agent Days On Market |
|
| Active | 3 | 9,585,000 | 0 | Low Avg High |
2,895,000 3,195,000 3,695,000 |
0 0 0 |
0.00 0.00 0.00 |
2,874 2,911 2,929 |
988.39 1,098.86 1,285.66 |
0.00 0.00 0.00 |
95 411 833 |
- Sold Listings Since 2011: (1)
|
Status |
# Listings |
List Volume |
Sold Volume |
List Price |
Sold Price |
Sale/List Price |
Total SqFt |
List Price Per Total SqFt |
Sold Price Per Total SqFt |
Agent Days On Market |
|
| Closed | 1 | 2,895,000 | 2,575,000 | Low Avg High |
2,895,000 2,895,000 2,895,000 |
2,575,000 2,575,000 2,575,000 |
0.89 0.89 0.89 |
2,929 2,929 2,929 |
988.39 988.39 988.39 |
879.14 879.14 879.14 |
293 293 293 |
Capitol Peak: Three Bedrooms: Average List Price: $1,246.12 / Average Sold Price: $796.16
- Active Listings: (2)
|
Status |
# Listings |
List Volume |
Sold Volume |
List Price |
Sold Price |
Sale/List Price |
Total SqFt |
List Price Per Total SqFt |
Sold Price Per Total SqFt |
Agent Days On Market |
|
|
Active |
2 |
4,924,000 |
0 |
Low |
1,529,000 |
0 |
0.00 |
1,487 |
1,028.24 |
0.00 |
23 |
- Sold Listings Since 2011: (5)
|
Status |
# Listings |
List Volume |
Sold Volume |
List Price |
Sold Price |
Sale/List Price |
Total SqFt |
List Price Per Total SqFt |
Sold Price Per Total SqFt |
Agent Days On Market |
|
|
Closed |
5 |
7,265,000 |
5,771,150 |
Low |
895,000 |
835,150 |
0.67 |
1,287 |
695.42 |
648.91 |
55 |
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