Snow & Real Estate Reports Off to a Great Start in 2017
We’re off to a great new year, with record snowfall and a spike in real estate activity. Last month was the fifth snowiest January in over 80 years and accumulation nearly doubled the January average, resulting in many delighted skiers, snowboarders, and visitors who came to town for the world-famous Winter X Games.
The Aspen and Snowmass real estate market is also putting on a stellar performance. Last month, 29 properties went under contract, compared to 12 in January of 2016. Dollar sales reached $62 million, a 74% increase compared to the same period last year. In addition, the average sale price rose 52% – due in part to an increase in the number of single-family home sales.
Similarly, the luxury market is making a powerful comeback. A 14,000 square foot estate on McLain Flats recently closed at $24.4 million. Meanwhile, 62 homes are currently under contract, with about 25% of these in the $7+ million range. Momentum is building, and it appears the market is on track for a strong year ahead.
If you’re a homeowner, now may be the perfect time to gain a better understanding of your property’s value. Feel free to contact me for a fresh market analysis or to explore some of the exciting homes that are now on the market.