Aspen/Snowmass Market Report – March 2021
Commercial Real Estate sales volume in Aspen/Snowmass of $63.2M with 15 transactions in 2020 was slightly lower compared to $72M with 17 transactions in 2019. Residential Real Estate sales in Pitkin County of $3.6B in 2020 was up 135% compared to sales in 2019 of $1.5B. Sales Taxes for the City of Aspen were down 6.5% in 2020 compared to taxes collected in 2019. Aspen Skiing Company uses ticket pricing to spread out ski crowds, not reservations. Steadman Clinic joins Aspen Valley Hospital. Aspen Orthopedic Practice joings Valley View Hospital and opens office in Aspen.
ASPEN/SNOWMASS MARKET UPDATE
Item
2019
2020
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY (Source – Aspen Board Of Realtors)
Item:
2019:
2020:
% +/- :
Commercial Sales Volume
$72M
$63.2M
-12.2%
Item:
2019:
2020:
% +/- :
Commercial Transactions
17
15
-11.8%
SALES TAX INDICATORS (Source – City of Aspen/ACRA)
Item:
2019:
2020:
% +/- :
All Retail Sales
$819.8M
$766.2M
-6.5%
Item:
2019:
2020:
% +/- :
Lodging
$236M
$177M
-25%
Item:
2019:
2020:
% +/- :
Restaurant
$139M
$122.9M
-12.2%
Item:
2019:
2020:
% +/- :
Sporting Goods
$52.8M
$53.6M
1.5%
Item:
2019:
2020:
% +/- :
Clothing
$63.9M
$62.8M
-1.7%
Item:
2019:
2020:
% +/- :
Food & Drug
$59.6M
$57.7M
-3.2%
Item:
2019:
2020:
% +/- :
Liquor
$10.9M
$13.3M
22%
Item:
2019:
2020:
% +/- :
Miscellaneous
$71.9M
$85.6M
19.1%
Item:
2019:
2020:
% +/- :
Construction
$70.3M
$71.8M
2.1%
Item:
2019:
2020:
% +/- :
Luxury Goods
$38.5M
$38.6M
0%
Item:
2019:
2020:
% +/- :
Utilities
$45.6M
$44.9M
-1.5%
Item:
2019:
2020:
% +/- :
Automobile
$19.4M
$24.1M
24.2%
Item:
2019:
2020:
% +/- :
Weedtail
$11.9M
$11.3M
5%
Item:
2019:
2020:
% +/- :
RE Transfer Taxes
4.4M
9.5M
VACANCY RATE
2019:
2020:
% +/- :
VACANCY RATE
2.5%
5% (50,000 SF)
100%
CAP RATES
2019:
2020:
% +/- :
CAP RATES
3.5% – 5.5%
3.5% – 5.0%
0%
PITKIN COUNTY RESIDENTIAL REAL ESTATE
Item:
2019:
2020:
% +/- :
Residential Total Sales
$1.5B
$3.6B
135.6%
Item:
2019:
2020:
% +/- :
Average Price All Types – Aspen/Snowmass
$3.5M
$5.4M
54.1%
Item:
2019:
2020:
% +/- :
Aspen Residential Days on Market
259
285
10%
Item:
2019:
2020:
% +/- :
Aspen Residential Listed for Sale
261
193
-26.1%
Item:
2019:
2020:
% +/- :
Snowmass Residential Days on Market
227
213
-6.2%
Item:
2019:
2020:
% +/- :
Snowmass Residential Listed for Sale
234
137
-41.5%
DEVELOPMENTS
- Aspen Skiing Company uses ticket pricing to spread out ski crowds, not reservations.
- Steadman Clinic joins Aspen Valley Hospital.
- Aspen Orthopedic Practice joings Valley View Hospital and opens office in Aspen.
