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 a 8.7 month supply of townhome/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 market is 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 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 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 deals for 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.