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Be informed, be educated, be advised by One of Aspen’s Best REALTORS reports local media. Top-performing Sotheby’s broker Tim Estin MBA writes the primary Aspen Snowmass real estate market report and blog. The broker the experts use.

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Bottom Line: May 17, 2021

The Snowmass Village real estate market is sizzling with buyers finally recognizing the extreme property discounts available over Aspen prices. But inventory is falling furiously. The sale last week of a Snowmass Base Village 2019 built Lumin Penthouse at a +48% premium in 2 years is noteworthy, although an outlier example, for what’s happening – it sold last week at record $9M/$2,843 SF; its prior sale was on 2/5/19 at $6.1M/$1857 SF. A Game changer? The success of the Base Village’s development progress by East-West Partners in the past 2-3 years, after purchasing the long-dormant project from The Related Companies’ indifference, and its positive affect on the rest of the resort, has been hugely validated.

Overall, the Aspen Snowmass real estate market continues to show unprecedented strength in this slow re-opening period post Covid 19. For the past 10 months since July 2020, every month has registered record sales for its respective month (Pg 5). Year over year (YOY) metrics are staggering because we are comparing current sales to a year ago when the Covid 19 shut down almost all activity. In the absence of legitimate YOY comparisons and as Aspen Snowmass real estate activity is seasonal, I’ve included in this post an additional Apr 2021 vs Apr 2019 market report comparison for a more meaningful perspective.

The number of Aspen properties that went under contract in Apr 21 (this metric is used as a future indicator as a number of these contracts will close in May) was up 750% to (30) from (4) last Apr when Aspen and Snowmass shut down due to Covid 19: in Snowmass Village, under contracts were up  500% to (33) from (6) last Apr same time last year.

The rental market for the summer is on fire as more normalcy in this summer’s cultural events return and more people begin to travel in the “opening up” of a post Covid-19 US.

The Estin Report Aspen Snowmass 2021 ws was released in Jan in Current Reports. It can be read online or downloaded as PDF.  The 32-Pg print edition is available outside Sotheby’s 415 E Hyman on the Hyman Mall, Sotheby’s 300 S Spring St (my office across from the Aspen Art Museum), at the Aspen Chamber Info Kiosk across from Paradise Bakery and the Pitkin County (ASE) airport.  If you have difficulty downloading the report PDF, contact me directly and I’d be pleased to send it.

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Current Estin Reports

Get the data and the expert analysis you want and contact Aspen broker Tim Estin for the bottom line and proven advantage.

A 50-yr veteran Aspen broker was once heard saying, 
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Find or Sell your Aspen Snowmass home with “One of Aspen’s best brokers”  Tim Estin MBA, GRI

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