Aspen/Snowmass Market Report – April 2021
Commercial Real Estate sales volume in Aspen/Snowmass of $84.5M with 7 transactions in Q1 2021 was significantly up 108% compared to $40.7M with 7 transactions in Q1 2020. Residential Real Estate sales in Pitkin County of $544.3M in Q1 2021 was up 67.6% compared to sales in Q1 2020 of $324.8M. Sales Taxes for the City of Aspen were down 1% in Q1 2021 compared to taxes collected in Q1 2020. The Mountain Chalet sold for $68M in March 2021.
ASPEN/SNOWMASS MARKET UPDATE
Item
Q1 2020
Q1 2021
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY (Source – Aspen Board Of Realtors)
Item:
Q1 2020:
Q1 2021:
% +/- :
Commercial Sales Volume
$40.7M
$84.5M
108%
Item:
Q1 2020:
Q1 2021:
% +/- :
Commercial Transactions
7
7
0%
SALES TAX INDICATORS (Source – City of Aspen/ACRA)
Item:
Q1 2020:
Q1 2021:
% +/- :
All Retail Sales
$241M
$238.6M
-1%
Item:
Q1 2020:
Q1 2021:
% +/- :
Lodging
$81.8M
$60.1M
-26%
Item:
Q1 2020:
Q1 2021:
% +/- :
Restaurant
$40.4M
$30.8M
-24%
Item:
Q1 2020:
Q1 2021:
% +/- :
Sporting Goods
$19.5M
$24.1M
24%
Item:
Q1 2020:
Q1 2021:
% +/- :
Clothing
$15.3M
$25.8M
69%
Item:
Q1 2020:
Q1 2021:
% +/- :
Food & Drug
$15.2M
$16.1M
6%
Item:
Q1 2020:
Q1 2021:
% +/- :
Liquor
$3.2M
$3.8M
19%
Item:
Q1 2020:
Q1 2021:
% +/- :
Miscellaneous
$16.2M
$20.8M
4.6%
Item:
Q1 2020:
Q1 2021:
% +/- :
Construction
$14M
$19.6M
40%
Item:
Q1 2020:
Q1 2021:
% +/- :
Luxury Goods
$13.1M
$8.8M
-33%
Item:
Q1 2020:
Q1 2021:
% +/- :
Utilities
$15.3M
$15.4M
1%
Item:
Q1 2020:
Q1 2021:
% +/- :
Automobile
$4M
$7.6M
90%
Item:
Q1 2020:
Q1 2021:
% +/- :
Weedtail
$3.3M
$3.3M
0%
Item:
Q1 2020:
Q1 2021:
% +/- :
RE Transfer Taxes
2.2M
3.6M
64%
VACANCY RATE
Q1 2020:
Q1 2021:
% +/- :
VACANCY RATE
2.5%
3% (30,000 SF)
1%
CAP RATES
Q1 2020:
Q1 2021:
% +/- :
CAP RATES
3.5% – 5.5%
3.5% – 5.0%
0%
PITKIN COUNTY RESIDENTIAL REAL ESTATE
Item:
Q1 2020:
Q1 2021:
% +/- :
Residential Total Sales
$324.8M
$544.3M
67.6%
Item:
Q1 2020:
Q1 2021:
% +/- :
Average Price All Types – Aspen
$6.6M
$5.4M
-17.8%
Item:
Q1 2020:
Q1 2021:
% +/- :
Item:
Q1 2020:
Q1 2021:
% +/- :
Average Price All Types – Snowmass
$2.3M
$2.4M
6.3%
Item:
Q1 2020:
Q1 2021:
% +/- :
Aspen Residential Days on Market
268
248
-7.5%
Item:
Q1 2020:
Q1 2021:
% +/- :
Aspen Residential Listed for Sale
259
168
-35.1%
Item:
Q1 2020:
Q1 2021:
% +/- :
Snowmass Residential Days on Market
392
176
-55.1%
Item:
Q1 2020:
Q1 2021:
% +/- :
Snowmass Residential Listed for Sale
191
107
-44%
DEVELOPMENTS
- The Mountain Chalet sold for $68M in March 2021.
