2023 Q4 ASSIR Market Report

Q1 Market Update 2024 | Market Report 2023 FOURTH QUARTER, JANUARY-DECEMBER 1 | Q4 Market Update 2023 Today’s Real Estate in  the Roaring Fork Valley Q4 Market Update 2023 | 2 Add your own letter here Andrew Ernemann, President Welcome to the Aspen Snowmass Sotheby’s International Realty 2023 Year-End Market Report! Aspen Snowmass Sotheby’s International Realty celebrated another year as the #1 real estate firm in the Roaring Fork Valley in 2023 – our mission is to be the firm in the Roaring Fork Valley and surrounding areas where real estate clients want to do business and real estate professionals want to work. If there is such a thing as a ‘balanced market,” then 2023 would be the example. The number of transactions, average sales price and sales price per square foot were generally similar to 2022. Some neighborhoods experienced price increases as much as 10% (give or take) compared to the year prior, while prices in other locations flattened out. Listing inventory has been modestly on the rise in the Roaring Fork Valley, although overall listing numbers are still well below pre-pandemic levels. Aside from the statistics, it is clear that Aspen Snowmass and the surrounding communities continue to be in high demand, particularly at the very upper end of the price spectrum. The notion of finding a “safe” and enjoyable home to spend time with family and friends seems more pertinent than ever, not to mention the investment quality of Roaring Fork Valley real estate continues to prove itself as a worthy element of any portfolio. Our agents and staff at Aspen Snowmass Sotheby’s International Realty are ready to serve your listing, purchasing and renting needs! CONTENTS 1 | President’s Message 3 | Local Market Dominance 4 | The Luxury Market NEIGHBORHOOD DATA 5 | Aspen 6 | Shared Ownership 7 | Snowmass Village 8 | Woody Creek 9 | Old Snowmass 10 | Basalt 11 | Carbondale 12 | Glenwood Springs 13 | New Castle 15 | Silt 16 | Rifle 18 | Residential Land Report Q4 Market Update 2023 | 3 5 Douglas Elliman Real Estate 8 Local Market Dominance 3 Top 10 Companies Sides $ Volume Market Share Aspen Snowmass Sotheby's International Realty - Hyman Mall (ASSHMA) 58 $1,182,401,138 30.02% Coldwell Banker Mason Morse 28 $573,478,814 14.56% Douglas Elliman Real Estate 27 $507,240,154 12.88% Compass Colorado 22 $445,019,500 11.30% Christie's International Real Estate 16 $255,125,814 6.48% Slifer Smith & Frampton 14 $203,750,000 5.17% Engel & Volkers 2 $132,726,240 3.37% Aspen Luxury Sales 7 $127,500,000 3.24% Whitman Fine Properties 9 $112,550,000 2.86% AG Aspen 2 $84,500,000 2.15% All Others 22 $313,796,916 7.97% 10 8 Compass Colorado Q4 Market Update 2023 | 4 8 Compass Colorado 4 Christie's International Real Estate 9 6 5 1 10 6 5 Aspen Snowmass Sotheby's International Realty 7 7 4 All closings from January 1 through January 1, 2024. Information is deemed to be reliable, but is not guaranteed. Source: The Aspen Glenwood MLS 9 Douglas Elliman Real Estate 2 9 2 We’ve been the local market leader for more than twenty years. 7 4 4 1 3 | Q4 Market Update 2023 3 All closings from January 1 through January 1, 2024. Information is deemed to be reliable, but is not guaranteed. Source: The Aspen Glenwood MLS The Luxury Market Top 10 Companies Sides $ Volume Market Share Aspen Snowmass Sotheby's International Realty ASSHMA) 893 $2,324,952,905 28.33% Coldwell Banker Mason Morse 451 $1,008,451,712 12.29% Compass Colorado 234.5 $775,448,004 9.45% Douglas Elliman Real Estate 141.5 $699,100,515 8.52% Slifer Smith & Frampton 281 $528,254,568 6.44% Christie's International Real Estate 113.5 $420,807,089 5.13% Engel & Volkers 235.5 $385,355,019 4.70% Aspen Luxury Sales 3 $128,875,000 1.57% Whitman Fine Properties 9 $118,700,000 1.45% The Agency Aspen 36.5 $96,769,984 1.18% All Others 2427.5 $1,817,582,741 20.94% 1 1 10 Slifer Smith & Frampton 2 Coldwell Banker Mason Morse 2 6 5 Closings Over $5 Million in Aspen & Snowmass Village 4 3 5 Aspen Snowmass Sotheby's International Realty 1 2 3 Coldwell Banker Mason Morse Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $4,685,443 $4,912,394 5% Average Sold Price per Sq. Ft. $2,880 $2,817 -2% Average Days on Market 98 151 54% % Sold Price to Original List Price 97% 95% -2% Lowest Sold Price $265,000 $800,000 202% Highest Sold Price $25,875,000 $47,910,078 85% Number of Properties Sold 115 96 -17% Total Dollar Volume Sold $538,825,999 $471,589,797 -12% $1.18B Active Residential Listings as of January 1, 2024 47% Q4 Market Update 2023 | 6 Highest Sale of 2023 Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $543,287 $333,504 -39% Average Sold Price per Sq. Ft. $222 $177 -20% Average Days on Market 154 280 82% % Sold Price to Original List Price 94% 91% -3% Lowest Sold Price $14,000 $10,000 -29% Highest Sold Price $3,100,000 $2,800,000 -10% Number of Properties Sold 145 129 -11% Total Dollar Volume Sold $78,776,572 $43,022,025 -45% Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $18,551,211 $17,544,776 -5% Average Sold Price per Sq. Ft. $3,048 $3,317 9% Average Days on Market 163 182 12% % Sold Price to Original List Price 95% 93% -2% Lowest Sold Price $1,300,000 $3,459,000 166% Highest Sold Price $60,000,000 $76,000,000 27% Number of Properties Sold 71 75 6% Total Dollar Volume Sold $1,317,135,952 $1,315,858,195 0% SHARED OWNERSHIP Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $371,342 $367,545 -1% Average Sold Price per Sq. Ft. $268 $292 9% Average Days on Market 216 156 -28% % Sold Price to Original List Price 95% 91% -4% Lowest Sold Price $165,000 $180,000 9% Highest Sold Price $635,000 $600,000 -6% Number of Properties Sold 60 44 -27% Total Dollar Volume Sold $22,280,500 $16,172,000 -27% SHARED OWNERSHIP 5 | Q4 Market Update 2023 14 Aspen 128 We Represented More Aspen Shared Ownership Sales Than All Other Brokerages Combined 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER Aspen Snowmass Sotheby’s International Realty Total $ Volume Market Share 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER 23 Active Listings as of January 1, 2024 Total $ Volume Sold by Aspen Snowmass Sotheby's International Realty in 2023 166 $76M Snowmass Village  Shared Ownership Total Residential Sales Over $20M SINGLE FAMILY HOMES Active Listings as of January 1, 2024 57% Aspen  Shared Ownership CONDOMINIUMS, TOWNHOMES & DUPLEXES SINGLE FAMILY HOMES 138 Active Listings as of January 1, 2024 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER CONDOMINIUMS, TOWNHOMES & DUPLEXES Snowmass Village Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $787,000 $10,300,000 1209% Average Sold Price per Sq. Ft. $569 $1,948 242% Average Days on Market 75 154 105% % Sold Price to Original List Price 95% 89% -6% Lowest Sold Price $585,000 $3,800,000 550% Highest Sold Price $989,000 $18,500,000 1771% Number of Properties Sold 2 3 50% Total Dollar Volume Sold $1,574,000 $30,900,000 1863% Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $2,120,857 $2,332,138 10% Average Sold Price per Sq. Ft. $1,509 $1,634 8% Average Days on Market 91 405 345% % Sold Price to Original List Price 97% 97% 0% Lowest Sold Price $145,000 $169,000 17% Highest Sold Price $7,500,000 $9,000,000 20% Number of Properties Sold 114 145 27% Total Dollar Volume Sold $241,777,650 $338,160,000 40% Lowest Priced Residential Sale in 2023 7 Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $7,265,287 $7,253,500 0% Average Sold Price per Sq. Ft. $1,598 $1,590 0% Average Days on Market 180 150 -17% % Sold Price to Original List Price 96% 94% -2% Lowest Sold Price $2,925,000 $2,290,000 -22% Highest Sold Price $18,250,000 $22,425,000 23% Number of Properties Sold 33 35 6% Total Dollar Volume Sold $239,754,484 $253,872,500 6% Aspen Snowmass Sotheby’s  International Realty Total $  Volume Market Share Woody Creek 7 | Q4 Market Update 2023 $150K Q4 Market Update 2023 | 8 34% Active Listings as of January 1, 2024 Total Residential Sales Over $10M Aspen Snowmass Sotheby’s  International Realty Total $  Volume Market Share 59% 8 SINGLE FAMILY HOMES 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER CONDOMINIUMS, TOWNHOMES & DUPLEXES 79 Basalt Old Snowmass Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $1,190,898 $1,373,060 15% Average Sold Price per Sq. Ft. $735 $851 16% Average Days on Market 158 134 -15% % Sold Price to Original List Price 100% 98% -2% Lowest Sold Price $340,000 $550,000 62% Highest Sold Price $2,998,000 $5,100,000 70% Number of Properties Sold 89 71 -20% Total Dollar Volume Sold $105,989,927 $97,487,258 -8% Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $1,694,861 $2,225,937 31% Average Sold Price per Sq. Ft. $654 $834 28% Average Days on Market 93 117 26% % Sold Price to Original List Price 98% 96% -2% Lowest Sold Price $805,000 $875,000 9% Highest Sold Price $7,100,000 $6,085,000 -14% Number of Properties Sold 54 65 20% Total Dollar Volume Sold $91,522,500 $144,685,900 58% Aspen Snowmass Sotheby’s  International Realty Total $  Volume Market Share 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $6,377,058 $5,996,817 -6% Average Sold Price per Sq. Ft. $1,232 $1,709 39% Average Days on Market 186 173 -7% % Sold Price to Original List Price 95% 91% -4% Lowest Sold Price $395,000 $1,675,000 324% Highest Sold Price $41,000,000 $24,000,000 -41% Number of Properties Sold 20 16 -20% Total Dollar Volume Sold $127,541,150 $95,949,070 -25% 11 SINGLE FAMILY HOMES 40% Increase in Average Sold Price of Single Family Homes (2022 vs. 2023) $998K SINGLE FAMILY HOMES 40% Active Listings as of January 1, 2024 Lowest Active Single Family Home Listing Q4 Market Update 2023 | 10 9 | Q4 Market Update 2023 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER Please note: Deed-restricted housing units have been excluded from statistics in this report. Active Listings as of January 1, 2024 | Q4 Market Update 2023 Aspen Snowmass Sotheby’s  International Realty Total $  Volume Market Share +31% Total $ Volume Sold in 2023 30% Increase in Average Sold Price of Single Family Homes (2022 vs. 2023) Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $531,225 $534,068 1% Average Sold Price per Sq. Ft. $363 $425 17% Average Days on Market 93 66 -29% % Sold Price to Original List Price 99% 98% -1% Lowest Sold Price $130,000 $160,000 23% Highest Sold Price $879,000 $900,000 2% Number of Properties Sold 85 43 -49% Total Dollar Volume Sold $45,154,120 $22,964,939 -49% CONDOMINIUMS, TOWNHOMES & DUPLEXES Q4 Market Update 2023 | 12 Year Over Year Q4 2022 Q4 2023 % Change Average Sold price $986,828 $1,032,573 5% Average Sold Price per Sq. Ft. $396 $435 10% Average Days on Market 91 98 8% % Sold Price to Original List Price 98% 97% -1% Lowest Sold Price $295,000 $395,000 34% Highest Sold Price $3,195,000 $3,350,000 5% Number of Properties Sold 160 136 -15% Total Dollar Volume Sold $157,892,534 $140,429,973 -11% $720K Active Listings as of  January 1, 2024 Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $1,921,875 $2,279,967 19% Average Sold Price per Sq. Ft. $588 $668 14% Average Days on Market 130 135 4% % Sold Price to Original List Price 97% 97% 0% Lowest Sold Price $576,000 $795,000 38% Highest Sold Price $7,500,000 $7,650,000 2% Number of Properties Sold 75 88 17% Total Dollar Volume Sold $144,140,615 $200,637,104 39% Lowest Active Single Family Home Listing Carbondale Glenwood Springs SINGLE FAMILY HOMES 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER +17% Aspen Snowmass Sotheby’s  International Realty Total $ Volume Market Share +19% 41 Total Residential Sales Over $1M $163.3M Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $911,858 $1,090,853 20% Average Sold Price per Sq. Ft. $505 $571 13% Average Days on Market 157 94 -40% % Sold Price to Original List Price 99% 97% -2% Lowest Sold Price $225,000 $278,000 24% Highest Sold Price $2,350,000 $2,365,000 1% Number of Properties Sold 54 43 -20% Total Dollar Volume Sold $49,240,309 $46,906,658 -5% Increase in Average Sold Price Per Square Foot of Condominiums, Townhomes & Duplexes (2022 vs. 2023) SINGLE FAMILY HOMES 11 | Q4 Market Update 2023 53 CONDOMINIUMS, TOWNHOMES & DUPLEXES 47 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER Active Listings as of  January 1, 2024 SINGLE FAMILY HOMES $63.3M New Castle 13 | Q4 Market Update 2023 Active Listings as of January 1, 2024 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $398,884 $465,371 17% Average Sold Price per Sq. Ft. $302 $315 4% Average Days on Market 48 124 158% % Sold Price to Original List Price 101% 99% -2% Lowest Sold Price $255,000 $293,000 15% Highest Sold Price $710,000 $752,500 6% Number of Properties Sold 51 39 -24% Total Dollar Volume Sold $20,343,090 $18,149,458 -11% +17% 25 Increase in Average Sold Price of Condominiums, Townhomes & Duplexes (2022 vs. 2023) Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $658,484 $674,632 2% Average Sold Price per Sq. Ft. $312 $331 6% Average Days on Market 83 83 0% % Sold Price to Original List Price 98% 98% 0% Lowest Sold Price $275,000 $245,000 -11% Highest Sold Price $1,300,000 $1,315,000 1% Number of Properties Sold 85 67 -21% Total Dollar Volume Sold $55,971,124 $45,200,325 -19% Total $ Volume Sold 2023 CONDOMINIUMS, TOWNHOMES & DUPLEXES Q4 Market Update 2023 | 14 23 Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $565,359 $563,419 0% Average Sold Price per Sq. Ft. $289 $300 4% Average Days on Market 91 86 -5% % Sold Price to Original List Price 98% 98% 0% Lowest Sold Price $315,000 $200,000 -37% Highest Sold Price $1,200,000 $1,450,000 21% Number of Properties Sold 78 74 -5% Total Dollar Volume Sold $44,097,983 $41,693,030 -5% Active Listings as of January 1, 2024 Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $478,125 $502,943 5% Average Sold Price per Sq. Ft. $270 $267 -1% Average Days on Market 80 75 -6% % Sold Price to Original List Price 99% 98% -1% Lowest Sold Price $140,000 $150,000 7% Highest Sold Price $1,500,000 $1,000,000 -33% Number of Properties Sold 154 116 -25% Total Dollar Volume Sold $73,631,229 $58,341,358 -21% $70.8M 15 | Q4 Market Update 2023 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER Increase in Average Sold Price of Condominiums, Townhomes & Duplexes (2022 vs. 2023) CONDOMINIUMS, TOWNHOMES & DUPLEXES Condominiums, Townhomes & Duplexes are selling twice as fast (2022 vs. 2023) SINGLE FAMILY HOMES Silt Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $280,959 $320,679 14% Average Sold Price per Sq. Ft. $220 $230 5% Average Days on Market 111 56 -50% % Sold Price to Original List Price 100% 99% -1% Lowest Sold Price $150,000 $155,500 4% Highest Sold Price $385,000 $518,000 35% Number of Properties Sold 37 39 5% Total Dollar Volume Sold $10,395,500 $12,506,500 20% Total $ Volume Sold 2023 Active Listings as of January 1, 2024 Q4 Market Update 2023 | 16 Rifle SINGLE FAMILY HOMES 40 $45.8M 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER 2X +19% CONDOMINIUMS, TOWNHOMES & DUPLEXES Total $ Volume Sold 2023 Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $354,091 $420,650 19% Average Sold Price per Sq. Ft. $247 $247 0% Average Days on Market 59 53 -10% % Sold Price to Original List Price 99% 98% -1% Lowest Sold Price $180,000 $340,000 89% Highest Sold Price $439,000 $505,000 15% Number of Properties Sold 11 10 -9% Total Dollar Volume Sold $3,895,000 $4,206,500 8% Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $2,071,667 No Sales Average Days on Market 106 No Sales Number of Properties Sold 3 No Sales Total Dollar Volume Sold $6,215,000 No Sales 3 $3,066,667 Average Current List Price Average Current List Price 23 Interested in learning more about housing market trends? WOODY CREEK SNOWMASS VILLAGE End of Quarter Active Inventory Average Current List Price End of Quarter Active Inventory Q2 Market Update 2023 | 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER At Aspen Snowmass Sotheby’s International Realty, we take a client–first  approach, publishing a variety of publications to reveal what’s happening in every sector of the real estate markets, at both a local and global scale.   Visit our website or get in touch today. AspenSnowmassSIR.com | 970.925.6060 Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $11,132,727 $11,854,167 6% Average Days on Market 255 268 5% Number of Properties Sold 11 6 -45% Total Dollar Volume Sold $122,460,000 $71,125,000 -42% $2,399,000 $10,792,053 End of Quarter Active Inventory End of Quarter Active Inventory Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $6,200,000 No Sales Average Days on Market 52 No Sales Number of Properties Sold 4 No Sales Total Dollar Volume Sold $24,800,000 No Sales Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $5,750,000 $9,500,000 65% Average Days on Market 380 235 -38% Number of Properties Sold 1 1 0% Total Dollar Volume Sold $5,750,000 $9,500,000 65% OLD SNOWMASS $8,248,333 3 Average Current List Price 2 ASPEN 17 | Q4 Market Update 2023 Q4 Market Update 2023 | 18 Residential Land Report RESIDENTIAL LAND REPORT 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER $1,341,464 RIFLE $270,000 3 12 19 | Q4 Market Update 2023 Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $759,550 $603,571 -21% Average Days on Market 189 223 18% Number of Properties Sold 20 14 -30% Total Dollar Volume Sold $15,191,000 $8,450,000 -44% CARBONDALE End of Quarter Active Inventory End of Quarter Active Inventory 28 SILT RESIDENTIAL LAND REPORT 2022 VS. 2023 FOURTH QUARTER, JANUARY – DECEMBER MISSOURI HEIGHTS End of Quarter Active Inventory Average Current List Price GLENWOOD SPRINGS BASALT 34 $357,962 $716,557 End of Quarter Active Inventory PARACHUTE/BATTLEMENT MESA 14 $1,203,548 End of Quarter Active Inventory $315,277 Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $111,502 $173,237 55% Average Days on Market 115 92 -20% Number of Properties Sold 43 19 -56% Total Dollar Volume Sold $4,794,570 $3,291,500 -31% Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $452,824 $583,563 29% Average Days on Market 128 166 30% Number of Properties Sold 37 40 8% Total Dollar Volume Sold $16,754,500 $23,342,525 39% Average Current List Price Average Current List Price Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $263,386 $372,093 41% Average Days on Market 154 122 -21% Number of Properties Sold 60 27 -55% Total Dollar Volume Sold $15,803,149 $10,046,500 -36% 21 Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $940,333 $636,261 -32% Average Days on Market 125 191 53% Number of Properties Sold 15 23 53% Total Dollar Volume Sold $14,105,000 $14,634,000 4% Average Current List Price Average Current List Price Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $160,390 $153,812 -4% Average Days on Market 112 338 202% Number of Properties Sold 71 21 -70% Total Dollar Volume Sold $11,387,657 $3,230,050 -72% 16 31 End of Quarter Active Inventory $1,052,000 Average Current List Price End of Quarter Active Inventory $2,341,917 NEW CASTLE Q4 Market Update 2023 | 20 End of Quarter Active Inventory Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $82,150 $117,375 43% Average Days on Market 61 133 118% Number of Properties Sold 6 8 33% Total Dollar Volume Sold $492,900 $939,000 91% Average Current List Price Year Over Year Q4 2022 Q4 2023 % Change Average Sold Price $178,768 $192,375 8% Average Days on Market 181 176 -3% Number of Properties Sold 28 16 -43% Total Dollar Volume Sold $5,005,500 $3,078,000 -39% Average Current List Price AspenSnowmassSIR.com | 970.925.6060 HYMAN MALL (FLAGSHIP OFFICE) 415 E. Hyman Avenue Aspen, CO 81611 970.925.6060 SPRING STREET 300 S. Spring Street Aspen, CO 81611 970.925.6060 EAST DURANT 730 East Durant Avenue Aspen, CO 81611 970.925.1100 SNOWMASS  VILLAGE MALL 50 Snowmass Village Mall Snowmass Village, CO 81615 970.923.2006 BASALT 201 Midland Avenue Basalt, CO 81621 970.927.8080 WILLITS 780 East Valley Road Basalt, CO 81621 970.927.8080 CARBONDALE 333 River Valley Ranch Drive Carbondale, CO 81623 970.963.0400 GLENWOOD SPRINGS 150 West Meadows Drive Glenwood Springs, CO 81601 970.366.3511 | Q4 Market Update 2023 Stop by any of our offices in the Roaring Fork Valley today.