When the pandemic took hold last spring, local real estate professionals had enough time on their hands to contemplate the wisdom of their career choice—but within a few months, they were busier than they’d ever been. “In our wildest dreams, we did not see the summer of 2020 coming—the period from June through October was record-breaking on every level,” says real estate agent BJ Adams of Compass. “The combination of being able to work remotely, low interest rates, a strong stock market, and the lure of a safe haven in the mountains allowed many affluent families to make relatively quick decisions to move to Aspen/Snowmass.” This is what took place from January 1 to October 31, 2020.

Aspen 

(includes City of Aspen, Red Mountain, neighborhoods east of town, and west to McLain Flats and Owl Creek)

Snowmass Village 

Rural 

(Brush Creek Village, Old Snowmass, and Woody Creek)

 

 

Total dollar volume

$2.6 billion

 

 

 

 

 

 

Number of sales over $10m 

75

 

 

 

 

 

 

  

Dollar volume of all sales over $10 million 

$1.19 billion 

 

 

 

 

 Properties placed under contract in Aspen and Snowmass Village, 

96
January–May 2020 
-52% compared to 2019 

 

532

June–October 2020 
+189%

 

151

of these properties went under contract in July 2020, 
a local real estate record.

More properties went under contract from July through September 2020 than in all of 2019.

 

Neighborhoods with highest sales activity

Aspen 

West Aspen, with 32 closings and 15 pending sales as of October 31

Snowmass Village

Ridge Run, with 19 combined closed and pending sales, leaving an inventory of just five homes

 

Where are all of these buyers coming from?

Roaring Fork Valley: Locals and part-time residents who claim Pitkin County as their primary home, trading up or down
Texas
Florida
California
Northeast (including New York)
Midwest
Colorado (outside of the Roaring Fork Valley)
(source: Pitkin County Clerk and Recorder)

Projected total sales for all of 2020 

$3-plus billion