About 20 percent of properties listed for sale in the Aspen Snowmass real estate market are priced over $10.0. This segment of the market represents a significant portion of the overall sales volume. Is there any evidence that this segment of the market has started to slow? Perhaps, but let’s take a closer look at the numbers. 

Of the 611 properties currently listed for sale in the Aspen Snowmass market, 77 are under contract representing roughly 13 percent of the total market inventory which is historically a strong ratio. Of the 117 properties listed at prices over $10.0 million, about 6.8 percent, or 8 properties, are currently under contract. This is about half of the overall ratio of pending property sales. Is this level of activity relative to the overall market a sign of a changing trend in over $10 million segment of the market?

In an effort to answer this question, it’s helpful to review the results of past year’s sales.

In 2017 and 2018, pretty robust years for real estate sales, the Aspen Snowmass market saw 29 homes in 2017 and 23 homes in 2018 sell for prices in excess of $10.0 million. But in 2016, a particularly slow year for the Aspen Snowmass market with overall volume off nearly 32 percent from 2015, there were only 12 sales of properties over $10.0 million. In 2015, the strongest market since 2008, there were 30 sales of properties over $10.0 million. The slowdown in 2016 was likely caused by political uncertainty leading into the 2016 Presidential election since the market rebounded in 2017 to a level similar to 2015.