Aspen real estate inventory continues to dwindle as the market continues into the spring off-season. Based on the first quarter data, there is now only a 13-month supply of single-family homes and an 8.7-month supply of townhomes/condos. Also notable is the increase in the median and average sales price of a single-family home- up 58.6% and 46.7% respectively.
For townhomes and condos, the median price saw a jump of 17.6% and the average sales price was also up an astonishing 54.7% year over year for the 1st quarter.
Surprisingly, even though there is more demand for Aspen real estate, the average days on the market are up for townhomes/condos to the tune of 20%+. This number is affected by a few bad apples that have been on the market for years, including one with 1,995 days on the market.
Real estate brokers appear to be listing properties for about 6-8% higher than the properties eventually sell for, which hasn’t changed over last year’s first-quarter data.
If you are a seller waiting on the sidelines for the market to improve, it officially has! As Aspen's real estate inventory continues to dwindle, it is a great time to put your property on the market with Portfolio Aspen Properties.
About Portfolio Aspen Properties
Portfolio Aspen Properties draws from the largest and most comprehensive network of available homes in Aspen and the Roaring Fork Valley to make sure its clients see all of the properties that meet their criteria. Portfolio brokers deal with clients looking to buy Aspen property, sell Aspen property, and invest in Aspen property. The company also provides its clients with a diverse collection of high-caliber luxury rental properties in the Aspen and Snowmass Village areas.
