Commercial Real Estate sales volume of $15.7M YTD in 2018 is down 65% compared to sales Jan-July 2017 of $43.9M. Residential Real Estate sales or $816M YTD in 2018 are slightly down compared to sales Jan-July 2017 of $816M. All Sales Taxes are up 5% YTD compared to taxes collected Jan-July 2017.
The City of Aspen is under contract to buy 27,000 SF of a soon to be built building for $32.5M. Jazz Aspen-Snowmass is under contract to buy the 2nd floor of Red Onion office space for $15M. New W Hotel in downtown Aspen to be completed in Spring 2019. Snowmass Mall has been sold for $28.5M to local Snowmass ownership group.
ASPEN/SNOWMASS MARKET UPDATE
VELOCITY (Source – Aspen Board Of Realtors)
SALES TAX INDICATORS (Source – City of Aspen/ACRA)
RE Transfer Taxes
RESIDENTIAL REAL ESTATE
Retidential Average Price
Residential Days On Market
Residential Listed for Sale
- City of Aspen under contracrt to buy 27000 SF to be built building for $32.5 million
- Jazz Aspen-Snowmass under contract to buy 2nd floor Red Onion office space for $15.0 million
- New W Hotel in downtown Aspen to be completed Spring 2019
- Snowmass Mall sold for $28.5 million to local Snowmass group