We just reviewed an Article in the Aspentimes today paper regarding SF Home Prices Rising in Snowmass Village compared to last year.
To say the least, welcome to fanfare and trying to blow air on a dwindling fire. I am a little astonished in the lack of specific comparisons. As an example, no doubt that 2021 was a robust year with 73 SF home sales compared to only 28 so far YTD. However, most notably is that there have been (7) SF homes sales in 2022 above $8m-$18.5m, or (6) sales above $10m compared to only (2) sales in 2021 above $10m. In addition, in 2022 there have been only (7) sales at $5m or below, compared to (39) sales in 2021 below $5m. Think about that for a second. (7) sales above $8m in 2022, with only (7) sales below $5m, compared to (2) Sales above $10m in 2021, with (39) sales at or below $5m.
Certainly, one can write an article with stats that show an increase in price point, but let’s not mislead the marketplace or the consumer.
The reality is that you have many more sales in 2021 occurring at lower price points than a few of the higher sales in 2022 occurring. Thus, keep your eye on the “ball” as the old adage says. Look at volume to draw your comparisons. (73) SF Home Sales in 2021 with over $396m in volume compared to YTD 2022 (28) SF Home Sales in 2022 or only $204m.
#realitycheck
2022 Single Family Home Marketplace:
-A total of 28 Sales in 2022 YTD:
-7 Sales above $8m
-14 Sales between $8m-$5m
-7 Sales below $5m
Statistical Market Analysis
| 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 | Days on Market | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Closed | 28 | 213,530,000 | 204,747,114 | Low Avg High |
2,975,000 7,626,071 18,950,000 |
2,925,000 7,312,397 18,250,000 |
0.57 0.96 1.14 |
1,846 4,631 13,075 |
994.50 1,677.71 2,919.37 |
877.00 1,608.13 2,780.35 |
20 184 987 |
| Overall | 28 | 213,530,000 | 204,747,114 | Low Avg High |
2,975,000 7,626,071 18,950,000 |
2,925,000 7,312,397 18,250,000 |
0.57 0.96 1.14 |
1,846 4,631 13,075 |
994.50 1,677.71 2,919.37 |
877.00 1,608.13 2,780.35 |
20 184 987 |
2021 Single Family Home Marketplace:
-A total of 73 Sales in 2021:
-15 Sales above $8m (only 2 above $10m)
-23 Sales between $8m-$5m
-39 Sales below $5m
Statistical Market Analysis
| 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 | Days on Market | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Closed | 73 | 411,518,495 | 396,938,545 | Low Avg High |
1,749,500 5,637,240 12,750,000 |
1,660,000 5,437,514 12,500,000 |
0.86 0.96 1.04 |
1,846 4,307 6,974 |
567.18 1,288.18 2,063.11 |
529.37 1,244.64 2,022.65 |
0 188 771 |
| Overall | 73 | 411,518,495 | 396,938,545 | Low Avg High |
1,749,500 5,637,240 12,750,000 |
1,660,000 5,437,514 12,500,000 |
0.86 0.96 1.04 |
1,846 4,307 6,974 |
567.18 1,288.18 2,063.11 |
529.37 1,244.64 2,022.65 |
0 188 771 |
Selection Criteria for Comparable Properties
Specified listings from the following search: Property type Residential; Status of ‘Closed’; Type of ‘ Single Family Residence’; Major Area of ‘Snowmass Village’; Sold Date between ’01/1/2021′ and ’12/31/2021′.Information is deemed to be reliable, but is not guaranteed. © 2022 MLS and FBS. Prepared by Erik A Cavarra on Wednesday, September 07, 2022 8:25 AM.
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