Q3 2024 ASSIR Market Report

Q1 Market Update 2024 | 2024 THIRD QUARTER, JULY-SEPTEMBER Market Report Andrew Ernemann, President Today’s Real Estate in  the Roaring Fork Valley 1 | Q3 Market Update 2024 Q3 Market Update 2024 | 2 Add your own letter here Welcome to the Aspen Snowmass Sotheby’s International Realty 2024 Q3 market report! For the past year or so, we’ve heard more buyers indicating they are concerned about “buying at the peak,” and, of course, that’s a valid concern in any market. Conversely, many of our sellers continue to feel emboldened by continued price increases and relatively low listing inventory in many neighborhoods. It’s always interesting to compare the local real estate market with other areas around the country, and over the past year, there are many U.S. markets that have slowed significantly. That hasn’t been the case in the Aspen / Snowmass area. Despite some communities in the Roaring Fork Valley experiencing a trend of increasing listing inventory, there continues to be solid sales activity, modest price increases in most neighborhoods, and historically tight discounts off the list price. Whether it’s buying, selling or renting, we have you covered. Aspen Snowmass Sotheby’s International Realty has been the #1 real estate firm in the Roaring Fork Valley for over 20 years. 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 Q3 Market Update 2024 | 7 Aspen Snowmass Sotheby's International Realty 3 8 10 Compass Colorado 10 All closings from January 1 through September 30, 2024. Information is deemed to be reliable, but is not guaranteed. Source: The Aspen Glenwood MLS 2 2 8 6 9 1 1 1 Douglas Elliman Real Estate Coldwell Banker Mason Morse Your Local Market Leader 3 6 9 4 Experience for yourself why we've been the number one choice for more than 20 years. 5 6 7 3 Aspen Snowmass Sotheby's International Realty Christie's International Real Estate 5 8 Christie's International Real Estate 4 9 4 5 3 2 2 Top 10 Companies Sides $ Volume Market Share Aspen Snowmass Sotheby's International Realty 487.5 $1,385,759,825 21.57% Compass Colorado 185.5 $806,166,008 12.55% Coldwell Banker Mason Morse 328 $706,454,308 11% Douglas Elliman Real Estate 97.5 $665,132,533 10.35% Christie's International Real Estate 98.5 $619,438,850 9.64% ENGEL & VOLKERS 149 $332,812,195 5.18% Hall and Hall Partners 3 $103,150,000 1.61% Slifer Smith & Frampton 92.5 $97,782,995 1.52% The Property Shop 111.5 75,397,952 1.17% Property Professionals 170.5 65,764,023 1.02% All Others 1753.5 $1,559,774,575 24.39% 7 2 4 10 Top 10 Companies Sides $ Volume Market Share Aspen Snowmass Sotheby's International Realty 48 $789,859,500 25.17% Compass Colorado 38.5 $588,957,500 18.77% Douglas Elliman Real Estate 20 $514,650,000 16.4% Coldwell Banker Mason Morse 25 $402,112,000 12.82% Christie's International Real Estate 30 $390,120,000 12.43% ENGEL & VOLKERS 11 $131,870,000 4.2% The Agency Aspen 2 $42,150,000 1.34% Aspen International Properties 2 $37,095,000 1.18% Aspen Luxury Sales 2 $32,000,000 1.02% Whitman Fine Properties 3 $29,100,000 0.93% All Others 20.5 $179,719,150 5.74% 3 Coldwell Banker Mason Morse 4 All closings from January 1 through September 30, 2024. Information is deemed to be reliable, but is not guaranteed. Source: The Aspen Glenwood MLS 5 Compass Colorado 1 5 Douglas Elliman Real Estate Closings Over $5 Million in Aspen & Snowmass Village 3 | Q3 Market Update 2024 1 Q3 Market Update 2024 | 4 The Luxury Market Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $5,328,520 $4,827,234 -9% Average Sold Price per Sq. Ft. $2,894 $3,160 9% Average Days on Market 133 150 13% % Sold Price to Original List Price 96% 95% -1% Lowest Sold Price $825,000 $775,000 -6% Highest Sold Price $47,910,078 $31,950,000 -33% Number of Properties Sold 63 82 30% Total Dollar Volume Sold $335,696,783 $395,833,200 18% +22% Active Residential Listings as of October 1, 2024 -17% Q3 Market Update 2024 | 6 Year-to-Date Total Aspen Sales Volume represented by Aspen Snowmass Sotheby's International Realty Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $343,819 $332,110 -3% Average Sold Price per Sq. Ft. $175 $181 4% Average Days on Market 225 242 8% % Sold Price to Original List Price 92% 90% -2% Lowest Sold Price $10,000 $17,000 70% Highest Sold Price $2,800,000 $2,350,000 -16% Number of Properties Sold 100 98 -2% Total Dollar Volume Sold $34,381,865 $32,546,750 -5% Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $17,624,998 $19,946,216 13% Average Sold Price per Sq. Ft. $3,465 $3,362 -3% Average Days on Market 160 257 61% % Sold Price to Original List Price 93% 92% -1% Lowest Sold Price $3,459,000 $3,550,000 3% Highest Sold Price $76,000,000 $108,000,000 42% Number of Properties Sold 57 51 -11% Total Dollar Volume Sold $1,112,015,000 $1,017,257,000 -9% SHARED OWNERSHIP Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $359,227 $396,611 10% Average Sold Price per Sq. Ft. $268 $198 -26% Average Days on Market 150 162 8% % Sold Price to Original List Price 91% 88% -3% Lowest Sold Price $180,000 $180,000 0% Highest Sold Price $600,000 $609,000 2% Number of Properties Sold 33 18 -45% Total Dollar Volume Sold $11,854,500 $7,139,000 -40% SHARED OWNERSHIP 5 | Q3 Market Update 2024 19 Aspen 126 Available Inventory from Q3 2023 vs Q3 2024 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER Less Available Units compared to Q3 2023 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER 7 Active Listings as of October 1, 2024 Increase in Active Inventory (Q3 2023 vs. Q3 2024) 188 $806M+ Snowmass Village  Shared Ownership Active Properties for Sale Over $40M SINGLE FAMILY HOMES Active Listings as of October 1, 2024 +10% Aspen  Shared Ownership CONDOMINIUMS, TOWNHOMES & DUPLEXES SINGLE FAMILY HOMES 138 Active Listings as of October 1, 2024 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER CONDOMINIUMS, TOWNHOMES & DUPLEXES Snowmass Village Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $8,600,000 $22,262,333 159% Average Sold Price per Sq. Ft. $2,026 $2,371 17% Average Days on Market 190 117 -38% % Sold Price to Original List Price 91% 96% 5% Lowest Sold Price $8,600,000 $6,400,000 -26% Highest Sold Price $8,600,000 $46,037,000 435% Number of Properties Sold 1 3 200% Total Dollar Volume Sold $8,600,000 $66,787,000 677% Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $2,273,996 $2,658,617 17% Average Sold Price per Sq. Ft4 $1,617 $1,814 12% Average Days on Market 447 102 -77% % Sold Price to Original List Price 98% 95% -3% Lowest Sold Price $169,000 $200,000 18% Highest Sold Price $9,000,000 $9,500,000 6% Number of Properties Sold 127 88 -31% Total Dollar Volume Sold $288,797,500 $233,958,255 -19% $444M Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $7,918,854 $8,914,023 13% Average Sold Price per Sq. Ft. $1,631 $1,853 14% Average Days on Market 167 141 -16% % Sold Price to Original List Price 92% 94% 2% Lowest Sold Price $2,290,000 $3,686,000 61% Highest Sold Price $22,425,000 $24,500,000 9% Number of Properties Sold 24 22 -8% Total Dollar Volume Sold $190,052,500 $196,108,500 3% Available Condos, Townhomes, and Duplexes Q3 2024 vs Q3 2023 Woody Creek 7 | Q3 Market Update 2024 $26M Q3 Market Update 2024 | 8 +12% Highest Priced Active Listing Active Listings as of October 1, 2024 Year-to-Date Total Snowmass Village Sales Volume Highest Priced Active Listing $59M 15 SINGLE FAMILY HOMES 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER CONDOMINIUMS, TOWNHOMES & DUPLEXES 109 Basalt Old Snowmass Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $1,426,747 $1,409,140 -1% Average Sold Price per Sq. Ft. $857 $842 -2% Average Days on Market 149 151 1% % Sold Price to Original List Price 98% 97% -1% Lowest Sold Price $430,000 $685,000 59% Highest Sold Price $5,100,000 $3,100,000 -39% Number of Properties Sold 56 33 -41% Total Dollar Volume Sold $79,897,850 $46,501,609 -42% of all Basalt Residential Listings are Under Contract as of October 1, 2024 Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $2,387,773 $2,728,847 14% Average Sold Price per Sq. Ft. $876 $1,009 15% Average Days on Market 117 130 11% % Sold Price to Original List Price 96% 96% 0% Lowest Sold Price $970,000 $875,000 -10% Highest Sold Price $6,085,000 $15,000,000 147% Number of Properties Sold 51 34 -33% Total Dollar Volume Sold $121,776,400 $92,780,800 -24% 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $4,851,852 $3,840,125 -21% Average Sold Price per Sq. Ft. $1,609 $1,106 -31% Average Days on Market 117 195 67% % Sold Price to Original List Price 91% 86% -5% Lowest Sold Price $1,675,000 $2,385,500 42% Highest Sold Price $12,200,000 $7,000,000 -43% Number of Properties Sold 13 4 -69% Total Dollar Volume Sold $63,074,070 $15,360,500 -76% $3,342,061 $49.5M 23 SINGLE FAMILY HOMES +27% SINGLE FAMILY HOMES Active Listings as of October 1, 2024 Highest Priced Active Listing Q3 Market Update 2024 | 10 9 | Q3 Market Update 2024 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER Active Listings as of October 1, 2024 38% Increase in Active Inventory (Q3 2023 vs Q3 2024) Current Average Asking Single Family Home Price Largest Available Single Family Home +19% Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $514,955 $514,469 -.09% Average Sold Price per Sq. Ft. $420 $476 13% Average Days on Market 71 65 -8% % Sold Price to Original List Price 98% 99% 1% Lowest Sold Price $160,000 $225,000 41% Highest Sold Price $900,000 $950,000 6% Number of Properties Sold 33 52 58% Total Dollar Volume Sold $16,993,499 $26,752,390 57% CONDOMINIUMS, TOWNHOMES & DUPLEXES Q3 Market Update 2024 | 12 $3,514,846 Year Over Year Q3 2023 Q3 2024 % Change Average Sold price $992,942 $1,046,109 5% Average Sold Price per Sq. Ft. $438 $456 4% Average Days on Market 92 100 9% % Sold Price to Original List Price 97% 98% 1% Lowest Sold Price $395,000 $360,000 -9% Highest Sold Price $3,350,000 $2,195,000 -34% Number of Properties Sold 105 82 -22% Total Dollar Volume Sold $104,258,913 $85,780,956 -18% Active Listings as of  October 1, 2024 Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $2,258,498 $2,354,230 4% Average Sold Price per Sq. Ft. $660 $720 9% Average Days on Market 140 145 4% % Sold Price to Original List Price 97% 98% 1% Lowest Sold Price $795,000 $850,000 7% Highest Sold Price $7,650,000 $4,750,000 -38% Number of Properties Sold 72 65 -10% Total Dollar Volume Sold $162,611,850 $153,024,927 -6% Average Active Listing Price for Single Family Homes Carbondale Glenwood Springs SINGLE FAMILY HOMES 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER $29.5M Increase in Active Inventory (Q3 2023 vs Q3 2024) 73 Increase in Active Inventory of Condos, Townhomes and Duplexes 6,562 SF Highest Priced Active Listing Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $1,154,376 $1,053,274 -9% Average Sold Price per Sq. Ft. $577 $635 10% Average Days on Market 105 123 17% % Sold Price to Original List Price 97% 97% 0% Lowest Sold Price $278,000 $455,000 64% Highest Sold Price $2,365,000 $2,339,000 -1% Number of Properties Sold 35 27 -23% Total Dollar Volume Sold $40,403,158 $28,438,400 -30% Current Average Asking Single Family Home Price SINGLE FAMILY HOMES $1,532,118 11 | Q3 Market Update 2024 +130% CONDOMINIUMS, TOWNHOMES & DUPLEXES 68 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER Active Listings as of  October 1, 2024 More Demand for New Castle Residential Properties Q3 2023 vs Q3 2024 SINGLE FAMILY HOMES $515,242 42 New Castle 13 | Q3 Market Update 2024 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $463,770 $519,206 12% Average Sold Price per Sq. Ft. $309 $350 13% Average Days on Market 139 77 -45% % Sold Price to Original List Price 99% 99% 0% Lowest Sold Price $293,000 $260,000 -11% Highest Sold Price $752,500 $819,000 9% Number of Properties Sold 31 33 6% Total Dollar Volume Sold $14,376,858 $17,133,789 19% Active Listings as of  October 1, 2024 11% 2,621 SF Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $666,506 $727,335 9% Average Sold Price per Sq. Ft. $335 $381 14% Average Days on Market 79 79 0% % Sold Price to Original List Price 99% 98% -1% Lowest Sold Price $245,000 $300,000 22% Highest Sold Price $1,250,000 $1,395,000 12% Number of Properties Sold 51 58 14% Total Dollar Volume Sold $33,991,825 $42,185,431 24% Average Size of New Castle Single Family Home For Sale Current Average Asking Price of Condo, Townhome and Duplex CONDOMINIUMS, TOWNHOMES & DUPLEXES Q3 Market Update 2024 | 14 Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $563,004 $627,712 11% Average Sold Price per Sq. Ft. $292 $354 21% Average Days on Market 89 78 -12% % Sold Price to Original List Price 98% 97% -1% Lowest Sold Price $200,000 $250,000 25% Highest Sold Price $1,380,000 $1,560,000 13% Number of Properties Sold 57 51 -11% Total Dollar Volume Sold $32,091,230 $32,013,300 -.24% Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $489,439 $559,532 14% Average Sold Price per Sq. Ft. $268 $303 13% Average Days on Market 66 82 24% % Sold Price to Original List Price 98% 97% -1% Lowest Sold Price $150,000 $300,000 100% Highest Sold Price $998,888 $2,500,000 150% Number of Properties Sold 83 84 1% Total Dollar Volume Sold $40,623,458 $47,000,687 16% 15 | Q3 Market Update 2024 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER 28 CONDOMINIUMS, TOWNHOMES & DUPLEXES SINGLE FAMILY HOMES Silt Fewer Single Family Homes Available for Sale Q3 2024 vs Q3 2023 Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $305,383 $335,943 10% Average Sold Price per Sq. Ft. $231 $248 7% Average Days on Market 55 64 16% % Sold Price to Original List Price 99% 98% -1% Lowest Sold Price $155,500 $235,000 51% Highest Sold Price $500,000 $399,300 -20% Number of Properties Sold 30 21 -30% Total Dollar Volume Sold $9,161,500 $7,054,800 -23% 39 Q3 Market Update 2024 | 16 Rifle Tiny Homes were Sold Year-to-Date not included in statistics 7 Additional Properties available for Sale Q3 2024 vs Q3 2023 Active Listings as of  October 1, 2024 SINGLE FAMILY HOMES Average List Price of Single Family Homes $809,182 -14 $940,338 Highest Priced Sale of 2024 represented by Mirr Ranch Group Average Active Listing Price for Single Family Homes 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER $2.5M CONDOMINIUMS, TOWNHOMES & DUPLEXES Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $429,611 $456,980 6% Average Sold Price per Sq. Ft. $247 $282 14% Average Days on Market 52 71 37% % Sold Price to Original List Price 99% 100% 1% Lowest Sold Price $377,000 $265,000 -30% Highest Sold Price $505,000 $600,000 19% Number of Properties Sold 9 5 -44% Total Dollar Volume Sold $3,866,500 $2,284,900 -41% Active Listings as of  October 1, 2024 4 Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price No Sales No Sales Average Days on Market No Sales No Sales Number of Properties Sold No Sales No Sales Total Dollar Volume Sold No Sales No Sales 4 $14,385,769 Average Current List Price Average Current List Price 18 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 Q3 Market Update 2024 | 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER 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 Q3 2023 Q3 2024 % Change Average Sold Price $8,895,000 $11,405,625 28% Average Days on Market 398 294 -26% Number of Properties Sold 5 8 60% Total Dollar Volume Sold $44,475,000 $91,245,000 105% $2,995,000 $11,624,667 End of Quarter Active Inventory End of Quarter Active Inventory Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price No Sales No Sales Average Days on Market No Sales No Sales Number of Properties Sold No Sales No Sales Total Dollar Volume Sold No Sales No Sales Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price No Sales No Sales Average Days on Market No Sales No Sales Number of Properties Sold No Sales No Sales Total Dollar Volume Sold No Sales No Sales OLD SNOWMASS $6,898,333 13 Average Current List Price 1 ASPEN 17 | Q3 Market Update 2024 Q3 Market Update 2024 | 18 Residential Land Report RESIDENTIAL LAND REPORT 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER $1,476,691 RIFLE $800,000  11 28 19 | Q3 Market Update 2024 Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $626,923 $440,962 -30% Average Days on Market 210 261 24% Number of Properties Sold 13 13 0% Total Dollar Volume Sold $8,150,000 $5,732,500 -30% CARBONDALE End of Quarter Active Inventory End of Quarter Active Inventory 29 SILT RESIDENTIAL LAND REPORT 2023 VS. 2024 THIRD QUARTER, JANUARY – SEPTEMBER MISSOURI HEIGHTS End of Quarter Active Inventory Average Current List Price GLENWOOD SPRINGS BASALT 38 $325,181 $290,000 End of Quarter Active Inventory PARACHUTE/BATTLEMENT MESA 13 $894,905 End of Quarter Active Inventory $315,498 Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $131,192 $175,062 33% Average Days on Market 64 83 30% Number of Properties Sold 13 8 -38% Total Dollar Volume Sold $1,705,500 $1,400,500 -18% Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $609,573 $1,462,842 140% Average Days on Market 186 217 17% Number of Properties Sold 32 19 -41% Total Dollar Volume Sold $19,506,325 $27,794,000 42% Median Current List Price Average Current List Price Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $389,690 $393,824 1% Average Days on Market 124 172 39% Number of Properties Sold 21 17 -19% Total Dollar Volume Sold $8,183,500 $6,695,000 -18% 29 Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $656,450 $828,650 26% Average Days on Market 182 127 -30% Number of Properties Sold 20 10 -50% Total Dollar Volume Sold $13,129,000 $8,286,500 -37% Average Current List Price Median Current List Price Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $178,696 $640,907 259% Average Days on Market 207 306 48% Number of Properties Sold 13 30 131% Total Dollar Volume Sold $2,323,050 $19,227,200 728% 14 37 End of Quarter Active Inventory $2,108,308 Average Current List Price End of Quarter Active Inventory $1,191,536 NEW CASTLE Q3 Market Update 2024 | 20 End of Quarter Active Inventory Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $67,900 $82,591 22% Average Days on Market 197 121 -39% Number of Properties Sold 5 11 120% Total Dollar Volume Sold $339,500 $908,500 168% Average Current List Price Year Over Year Q3 2023 Q3 2024 % Change Average Sold Price $159,833 $175,324 10% Average Days on Market 157 161 3% Number of Properties Sold 9 34 278% Total Dollar Volume Sold $1,438,500 $5,961,000 314% 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 Stop by any of our offices in the Roaring Fork Valley today.