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Whats happening in Snowmass Village:

September 7, 2022 by ecavarra Leave a Comment

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.

Filed Under: Aspen Skiing Company, Market Reports, Real Estate News

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Erik Cavarra

Erik Cavarra

Your Aspen Snowmass Real Estate Expert
(970) 923-0817 Office
(970) 618-9733 Cell
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