Market and Snow Update--Snowmass & Aspen, Colorado Real Estate Dec 3, 2010

Market and Snow Update--Snowmass & Aspen, Colorado Real Estate Dec 3

, 2010

Snowmass and Aspen real estate continues to show signs of recovery in the last month with the increase of single family home sales and pending sales leading the way. Comparing December 2008-December 2009 with this past year, single family home sales in Snowmass Village has increased by 56% in volume and the average sales price is relatively stable between the two years (1% decrease in 2009-2010). Here in Snowmass Village this past week alone, two single family homes with a total list value of $4,400,000 and three condominiums with a total list value of $3,060,000 were placed under contract.

Growth in consumer confidence and a climbing stock market seem to be the driving forces. Savvy buyers are determining that the market has bottomed and the current selection of prime homes can change quickly. As a prime example, one of the best values in Snowmass Village today is Country Club Villa 1423. A three-bedroom, three-bath unit with 1,795 square feet (one of the largest in the complex) is now offered at $895,000, but was appraised in May 2009 for $1,650,000. This includes full access to all of the luxurious amenities of the Snowmass Club.

On a lighter note, as in snow, reports this week show that the Aspen/Snowmass area snowpack is 123% of normal for this time of year. According to locals, including the author, ski conditions are the best in years. Tomorrow is the first day for Alpine Springs and High Alpine chairlifts along with High Alpine Restaurant. Large sections of the expert-area Hanging Valley Wall will be open as well.

Advanced reservations are steadily rising. Best advicemake your plans now to visit Snowmass Village and Aspen this winter. It won't be long before word of this record snowpack gets out and the chairlifts fill up!

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