Douglas Elliman has released their December 2021 and Q4 market reports for all of their primary real estate markets, including Aspen and Snowmass Village. I am always here to dive into what the statistics mean for your specific property or desire for a property in our market!
Market Trends
Looking at the home sales data in Aspen, we saw the amount of December newly signed contracts for single-family homes lower in 2021 than it was in the same month of 2020. This marks the seventh straight month of this trend. However, sales were up significantly last month compared to December 2019. We saw a slight decline in second-half activity last year, but the dollar volume is breaking any prior records.
Newly signed contracts in the Aspen condo market and for single-family homes in Snowmass Village were both up in December 2021 year-over-year. New listings were down in both markets, though, and so were new Snowmass condo contracts.
The main challenge we are dealing with is low housing inventory. There’s no shortage of buyer demand for property in Aspen and Snowmass, but there are fewer sellers on the market. We may see this trend start to shift in 2022 as interest rates are expected to rise, though mortgage rates tend to have less of an impact in luxury and second home markets like ours. It will likely be some time before we see the supply outweighing the demand.
Aspen/Snowmass December 2021 Real Estate Sales
Here are some of the key Aspen/Snowmass real estate sales data from December 2021:
Aspen Single-Family Homes:
New Signed Contracts – 5 (down 37.5% from Dec. 2020)
New Listings – 6 (down 50.0% from Dec. 2020)
Aspen Condos:
New Signed Contracts – 7 (up 16.7% from Dec. 2020)
New Listings – 5 (down 61.5% from Dec. 2020)
Snowmass Village Single-Family Homes:
New Signed Contracts – 6 (up 200.0% from Dec. 2020)
New Listings – 1 (down 80.0% from Dec. 2020)
Snowmass Village Condos:
New Signed Contracts – 5 (down 58.3% from Dec. 2020)
New Listings – 5 (down 64.3% from Dec. 2020)
Trends are showing more sales prior to properties hitting the MLS. We are off to a strong start in 2022!
Ready to Buy or Sell in Aspen?
If you are thinking about buying, selling or renting a home in Aspen in 2022, it’s never too early to start planning your move. Contact me today for a no-obligation real estate consultation and let me know how I can help you make the most of your Aspen/Snowmass real estate experience!
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Brittanie Rockhill
Aspen Real Estate
DRE # FA.100019229
