Q4 2024 ASSIR Market Report

Q1 Market Update 2024 | 2024 FOURTH QUARTER, JANUARY-DECEMBER Market Report Andrew Ernemann, President Today’s Real Estate in  the Roaring Fork Valley 1 | Q4 Market Update 2024 Q4 Market Update 2024 | 2 Add your own letter here The books are closed on 2024 real estate in the Roaring Fork Valley, and I’m pleased to introduce the Aspen Snowmass Sotheby’s International Realty 2024 Q4 market report! In almost every neighborhood within the communities we serve in the Roaring Fork Valley, property prices increased 5-20% for homes and condos in 2024. That’s an impressive statistic given the strong price appreciation experienced in the local market over the prior four years (not to mention many solid years prior to 2020). Listing inventory rose in most areas over the past year. Normally, one would expect increased listings to lead to a pricing slowdown, but strong buyer demand has persisted in the greater Aspen Snowmass area. While some sellers are willing to strike a healthy discount from their list price to achieve a sale, the average negotiation remains historically low in the 5% +/- range. It’s worth noting that the ”high-end” of the market in Aspen ($20 million+) continues to be a solid foundation for local real estate sales. What will 2025 hold for the Aspen Snowmass area real estate market? The current pulse indicates many pockets of continued strength and a possible slowing in other corners of the market. Aspen Snowmass Sotheby’s International Realty has agents who specialize in residential and commercial sales as well as luxury rentals, our firm has been the #1 real estate firm in the Roaring Fork Valley for over 20 years, so I’m confident our team can assist you with any real estate needs. Here’s to another successful year. 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 2024 | 7 Aspen Snowmass Sotheby's International Realty 3 8 10 Compass Colorado 10 All closings from January 1 through December 31, 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 Hyman Mall (ASSHMA) 645.5 $1,891,976,144 20.49% Compass Colorado 253.5 $1,016,971,983 11.02% Coldwell Banker Mason Morse 442.5 $950,782,890 10.30% Douglas Elliman Real Estate 141 $930,126,783 10.07% Christie's International Real Estate Aspen Snowmass (216506643) 135 $804,665,849 8.71% Slifer Smith & Frampton 204.5 $686,464,115 7.43% ENGEL & VOLKERS 205.5 $465,774,695 5.04% The Agency Aspen 24.5 $139,930,000 1.52% Hall and Hall Partners 3 $103,150,000 1.12% The Property Shop 138.5 $93,815,702 1.02% All Others 2541 $2,126,083,305 23.29% 7 2 4 10 Top 10 Companies Sides $ Volume Market Share Aspen Snowmass Sotheby's International Realty Hyman Mall (ASSHMA) 70 $1,077,633,750 23.61% Douglas Elliman Real Estate 31 $734,125,000 16.08% Compass Colorado 47 $650,316,750 14.25% Christie's International Real Estate 40.5 $516,912,500 11.32% Coldwell Banker Mason Morse 33.5 $512,787,000 11.23% Slifer Smith & Frampton 44.5 $381,102,500 8.35% ENGEL & VOLKERS 20.5 $212,865,000 4.66% The Agency Aspen 5.5 $111,050,000 2.43% Alpine Property Management 4 $46,900,000 1.03% Aspen International Properties 2 $37,095,000 0.81% All Others 29.5 $284,389,150 6.23% 3 Coldwell Banker Mason Morse 4 All closings from January 1 through December 31, 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 | Q4 Market Update 2024 1 Q4 Market Update 2024 | 4 The Luxury Market Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $4,912,394 $4,630,697 -6% Average Sold Price per Sq. Ft. $2,817 $3,132 11% Average Days on Market 151 157 4% % Sold Price to Original List Price 95% 94% -1% Lowest Sold Price $800,000 $775,000 -3% Highest Sold Price $47,910,078 $31,950,000 -33% Number of Properties Sold 96 109 14% Total Dollar Volume Sold $471,589,797 $504,745,950 7% -4% Active Residential Listings as of January 1, 2025 43% Q4 Market Update 2024 | 6 Aspen Snowmass Sotheby’s International Realty Total $ Volume Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $333,504 $324,934 -3% Average Sold Price per Sq. Ft. $177 $212 20% Average Days on Market 280 263 -6% % Sold Price to Original List Price 91% 89% -2% Lowest Sold Price $10,000 $17,000 70% Highest Sold Price $2,800,000 $2,350,000 -16% Number of Properties Sold 129 125 -3% Total Dollar Volume Sold $43,022,025 $40,616,749 -6% Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $17,544,776 $20,151,103 15% Average Sold Price per Sq. Ft. $3,317 $3,476 5% Average Days on Market 182 241 32% % 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 75 63 -16% Total Dollar Volume Sold $1,315,858,195 $1,269,519,500 -4% SHARED OWNERSHIP Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $367,545 $384,217 5% Average Sold Price per Sq. Ft. $292 $270 -7% Average Days on Market 156 150 -4% % Sold Price to Original List Price 91% 89% -2% Lowest Sold Price $180,000 $180,000 0% Highest Sold Price $600,000 $609,000 2% Number of Properties Sold 44 30 -32% Total Dollar Volume Sold $16,172,000 $11,526,500 -29% SHARED OWNERSHIP 5 | Q4 Market Update 2024 17 Aspen 124 Aspen Snowmass Sotheby’s International Realty Total Sides Market Share 2023 VS. 2024 FOURTH QUARTER, JANUARY – DECEMBER Aspen Snowmass Sotheby’s International Realty Total Sides Market Share 2023 VS. 2024 FOURTH QUARTER, JANUARY – DECEMBER 2023 VS. 2024 FOURTH QUARTER, JANUARY – DECEMBER +15% Active Listings as of January 1, 2025 Decrease in Active Inventory (Q4 2023 vs. Q4 2024) 168 $1.04B Snowmass Village  Shared Ownership Average Single Family Home Appreciation in 2024 SINGLE FAMILY HOMES Active Listings as of January 1, 2025 37% Aspen  Shared Ownership CONDOMINIUMS, TOWNHOMES & DUPLEXES SINGLE FAMILY HOMES 163 Active Listings as of January 1, 2025 2023 VS. 2024 FOURTH QUARTER, JANUARY – DECEMBER CONDOMINIUMS, TOWNHOMES & DUPLEXES Snowmass Village Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $10,300,000 $19,032,400 85% Average Sold Price per Sq. Ft. $1,948 $2,160 11% Average Days on Market 154 127 -18% % Sold Price to Original List Price 89% 92% 3% Lowest Sold Price $3,800,000 $5,500,000 45% Highest Sold Price $18,500,000 $46,037,000 149% Number of Properties Sold 3 5 67% Total Dollar Volume Sold $30,900,000 $95,162,000 208% Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $2,332,138 $3,773,641 62% Average Sold Price per Sq. Ft4 $1,634 $2,222 36% Average Days on Market 405 326 -20% % Sold Price to Original List Price 97% 96% -1% Lowest Sold Price $169,000 $200,000 18% Highest Sold Price $9,000,000 $15,000,000 67% Number of Properties Sold 145 180 24% Total Dollar Volume Sold $338,160,000 $679,255,380 101% $307M Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $7,253,500 $9,498,617 31% Average Sold Price per Sq. Ft. $1,590 $1,929 21% Average Days on Market 150 187 25% % Sold Price to Original List Price 94% 94% 0% Lowest Sold Price $2,290,000 $3,686,000 61% Highest Sold Price $22,425,000 $24,500,000 9% Number of Properties Sold 35 30 -14% Total Dollar Volume Sold $253,872,500 $284,958,500 12% Lowest Current Active Single Family Home Woody Creek 7 | Q4 Market Update 2024 +31% Q4 Market Update 2024 | 8 $3.4M Average Single Family Home Appreciation in 2024 Active Listings as of January 1, 2025 Aspen Snowmass Sotheby’s International Realty Total $ Volume Increase in Average Sold Price Per Square Foot (Q4 2023 vs. Q4 2024) +11% 13 SINGLE FAMILY HOMES 2023 VS. 2024 FOURTH QUARTER, JANUARY – DECEMBER CONDOMINIUMS, TOWNHOMES & DUPLEXES 106 Basalt Old Snowmass Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $1,373,060 $1,405,619 2% Average Sold Price per Sq. Ft. $851 $852 0.19% Average Days on Market 134 139 4% % Sold Price to Original List Price 98% 97% -1% Lowest Sold Price $550,000 $685,000 25% Highest Sold Price $5,100,000 $3,100,000 -39% Number of Properties Sold 71 43 -39% Total Dollar Volume Sold $97,487,258 $60,441,609 -38% Aspen Snowmass Sotheby’s International Realty Total $ Volume Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $2,225,937 $2,641,525 19% Average Sold Price per Sq. Ft. $834 $948 14% Average Days on Market 117 130 11% % Sold Price to Original List Price 96% 96% 0% Lowest Sold Price $875,000 $875,000 0% Highest Sold Price $6,085,000 $15,000,000 147% Number of Properties Sold 65 49 -25% Total Dollar Volume Sold $144,685,900 $129,434,717 -11% 2023 VS. 2024 FOURTH QUARTER, JANUARY – DECEMBER Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $5,996,817 $6,189,875 3% Average Sold Price per Sq. Ft. $1,709 $1,462 -14% Average Days on Market 173 165 -5% % Sold Price to Original List Price 91% 89% -2% Lowest Sold Price $1,675,000 $1,800,000 7% Highest Sold Price $24,000,000 $18,250,000 -24% Number of Properties Sold 16 11 -31% Total Dollar Volume Sold $95,949,070 $68,088,625 -29% $695K $49.5M 13 SINGLE FAMILY HOMES +19% SINGLE FAMILY HOMES Active Listings as of January 1, 2025 Highest Priced Active Listing Q4 Market Update 2024 | 10 9 | Q4 Market Update 2024 2023 VS. 2024 FOURTH QUARTER, JANUARY – DECEMBER Active Listings as of January 1, 2025 $113M Average Single Family Home Appreciation in 2024 Lowest Current Active Single Family Home $176M 3.9 Aspen Snowmass Sotheby’s International Realty Total $ Volume Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $534,068 $523,832 -2% Average Sold Price per Sq. Ft. $425 $470 10% Average Days on Market 66 65 -2% % 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 43 69 60% Total Dollar Volume Sold $22,964,939 $36,144,416 57% CONDOMINIUMS, TOWNHOMES & DUPLEXES Q4 Market Update 2024 | 12 Year Over Year Q4 2023 Q4 2024 % Change Average Sold price $1,032,573 $1,039,350 1% Average Sold Price per Sq. Ft. $435 $464 7% Average Days on Market 98 100 2% % Sold Price to Original List Price 97% 97% 0% Lowest Sold Price $395,000 $360,000 -9% Highest Sold Price $3,350,000 $2,195,000 -34% Number of Properties Sold 136 107 -21% Total Dollar Volume Sold $140,429,973 $111,210,456 -21% Active Listings as of  January 1, 2025 Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $2,279,967 $2,393,928 5% Average Sold Price per Sq. Ft. $668 $710 6% Average Days on Market 135 138 2% % Sold Price to Original List Price 97% 97% 0% Lowest Sold Price $795,000 $850,000 7% Highest Sold Price $7,650,000 $4,780,000 -38% Number of Properties Sold 88 85 -3% Total Dollar Volume Sold $200,637,104 $203,483,847 1% $850K Carbondale Glenwood Springs $52M SINGLE FAMILY HOMES 2023 VS. 2024 FOURTH QUARTER, JANUARY – DECEMBER Months of Active Inventory for Single Family Homes as of December 2024 $797K 54 Single Family Homes Closed Under $1M in 2024 Aspen Snowmass Sotheby’s International Realty Total $ Volume Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $1,090,853 $1,102,525 1% Average Sold Price per Sq. Ft. $571 $635 11% Average Days on Market 94 117 24% % 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 43 36 -16% Total Dollar Volume Sold $46,906,658 $39,690,900 -15% Lowest Current Active Single Family Home SINGLE FAMILY HOMES 11 | Q4 Market Update 2024 60 CONDOMINIUMS, TOWNHOMES & DUPLEXES 50 Lowest Current Active Single Family Home 2023 VS. 2024 FOURTH QUARTER, JANUARY – DECEMBER Active Listings as of  January 1, 2025 SINGLE FAMILY HOMES 54 $9.7M New Castle Lowest Current Active Single Family Home 13 | Q4 Market Update 2024 $399K 9 2023 VS. 2024 FOURTH QUARTER, JANUARY – DECEMBER Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $465,371 $538,251 16% Average Sold Price per Sq. Ft. $315 $359 14% Average Days on Market 124 72 -42% % 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 39 46 18% Total Dollar Volume Sold $18,149,458 $24,759,563 36% Active Listings as of  January 1, 2025 Aspen Snowmass Sotheby’s International Realty Total $ Volume Single Family Homes Closed Above $1M in 2024 Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $674,632 $750,307 11% Average Sold Price per Sq. Ft. $331 $374 13% Average Days on Market 83 85 2% % Sold Price to Original List Price 98% 98% 0% Lowest Sold Price $245,000 $300,000 22% Highest Sold Price $1,315,000 $1,995,000 52% Number of Properties Sold 67 72 7% Total Dollar Volume Sold $45,200,325 $54,022,090 20% $1,891,976,144 CONDOMINIUMS, TOWNHOMES & DUPLEXES Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $563,419 $630,914 12% Average Sold Price per Sq. Ft. $300 $357 19% Average Days on Market 86 74 -14% % Sold Price to Original List Price 98% 97% -1% Lowest Sold Price $200,000 $250,000 25% Highest Sold Price $1,450,000 $1,560,000 8% Number of Properties Sold 74 69 -7% Total Dollar Volume Sold $41,693,030 $43,533,050 4% Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $502,943 $555,840 11% Average Sold Price per Sq. Ft. $267 $303 13% Average Days on Market 75 78 4% % Sold Price to Original List Price 98% 98% 0% Lowest Sold Price $150,000 $285,000 90% Highest Sold Price $1,000,000 $2,500,000 150% Number of Properties Sold 116 108 -7% Total Dollar Volume Sold $58,341,358 $60,030,687 3% $1.7M 15 | Q4 Market Update 2024 2023 VS. 2024 FOURTH QUARTER, JANUARY – DECEMBER 19 Months of Active Inventory for Single Family Homes as of December 2024 CONDOMINIUMS, TOWNHOMES & DUPLEXES SINGLE FAMILY HOMES Silt 1.1 Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $320,679 $353,472 10% Average Sold Price per Sq. Ft. $230 $249 8% Average Days on Market 56 68 21% % Sold Price to Original List Price 99% 98% -1% Lowest Sold Price $155,500 $235,000 51% Highest Sold Price $518,000 $625,000 21% Number of Properties Sold 39 29 -26% Total Dollar Volume Sold $12,506,500 $10,250,700 -18% Lowest Current Active Single Family Home Months of Active Inventory for Single Family Homes as of December 2024 Q4 Market Update 2024 | 16 *Please note there are 8 tiny home sales not included in these statistics. The tiny homes do not include a land lease. Rifle Highest Current Active Residential Listing $219K Highest Current Active Residential Listing Active Listings as of  January 1, 2025 SINGLE FAMILY HOMES $425K 29 $3.1M 2023 VS. 2024 FOURTH QUARTER, JANUARY – DECEMBER CONDOMINIUMS, TOWNHOMES & DUPLEXES Active Listings as of  January 1, 2025 1.9 Lowest Current Active Single Family Home Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $420,650 $425,211 1% Average Sold Price per Sq. Ft. $247 $287 16% Average Days on Market 53 66 25% % Sold Price to Original List Price 98% 101% 3% Lowest Sold Price $340,000 $265,000 -22% Highest Sold Price $505,000 $600,000 19% Number of Properties Sold 10 9 -10% Total Dollar Volume Sold $4,206,500 $3,826,900 -9% Year Over Year Q4 2023 Q4 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 3 $23,813,429 Average Current List Price Average Current List Price 14 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 Q4 Market Update 2024 | 2023 VS. 2024 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 2023 Q4 2024 % Change Average Sold Price $11,854,167 $11,679,500 -1% Average Days on Market 268 265 -1% Number of Properties Sold 6 10 67% Total Dollar Volume Sold $71,125,000 $116,795,000 64% $2,995,000 $13,695,000 End of Quarter Active Inventory End of Quarter Active Inventory Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price No Sales $2,500,000 Average Days on Market No Sales 107 Number of Properties Sold No Sales 2 Total Dollar Volume Sold No Sales $5,000,000 Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $9,500,000 No Sales Average Days on Market 235 No Sales Number of Properties Sold 1 No Sales Total Dollar Volume Sold $9,500,000 No Sales OLD SNOWMASS $5,572,500 7 Average Current List Price 1 ASPEN 17 | Q4 Market Update 2024 Q4 Market Update 2024 | 18 Residential Land Report RESIDENTIAL LAND REPORT 2023 VS. 2024 FOURTH QUARTER, JANUARY – DECEMBER $1,069,692 RIFLE $776,088 16 26 19 | Q4 Market Update 2024 Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $603,571 $410,969 -32% Average Days on Market 223 250 12% Number of Properties Sold 14 16 14% Total Dollar Volume Sold $8,450,000 $6,575,500 -22% CARBONDALE End of Quarter Active Inventory End of Quarter Active Inventory 38 SILT RESIDENTIAL LAND REPORT 2023 VS. 2024 FOURTH QUARTER, JANUARY – DECEMBER MISSOURI HEIGHTS End of Quarter Active Inventory Average Current List Price GLENWOOD SPRINGS BASALT 27 $399,000 $1,334,593 End of Quarter Active Inventory PARACHUTE/BATTLEMENT MESA 7 $688,136 End of Quarter Active Inventory $172,261 Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $173,237 $175,062 1% Average Days on Market 92 83 -10% Number of Properties Sold 19 8 -58% Total Dollar Volume Sold $3,291,500 $1,400,500 -57% Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $583,563 $1,163,111 99% Average Days on Market 166 226 36% Number of Properties Sold 40 27 -33% Total Dollar Volume Sold $23,342,525 $31,404,000 35% Median Current List Price Average Current List Price Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $372,093 $419,636 13% Average Days on Market 122 178 46% Number of Properties Sold 27 22 -19% Total Dollar Volume Sold $10,046,500 $9,232,000 -8% 14 Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $636,261 $884,731 39% Average Days on Market 191 127 -34% Number of Properties Sold 23 13 -43% Total Dollar Volume Sold $14,634,000 $11,501,500 -21% Average Current List Price Median Current List Price Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $153,812 $584,781 280% Average Days on Market 338 273 -19% Number of Properties Sold 21 37 76% Total Dollar Volume Sold $3,230,050 $20,156,200 524% 10 22 End of Quarter Active Inventory $2,244,857 Average Current List Price End of Quarter Active Inventory $1,730,692 NEW CASTLE Q4 Market Update 2024 | 20 End of Quarter Active Inventory Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $117,375 $82,542 -30% Average Days on Market 133 132 -1% Number of Properties Sold 8 12 50% Total Dollar Volume Sold $939,000 $990,500 5% Average Current List Price Year Over Year Q4 2023 Q4 2024 % Change Average Sold Price $192,375 $175,479 -9% Average Days on Market 176 142 -19% Number of Properties Sold 16 48 200% Total Dollar Volume Sold $3,078,000 $8,423,000 174% Average Current List Price AspenSnowmassSIR.com | 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. HYMAN MALL (FLAGSHIP OFFICE) 415 E. Hyman Avenue Aspen, CO 81611 970.925.6060