Aspen’s Real-Estate Market Soared Sky-High in 2020
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.
(includes City of Aspen, Red Mountain, neighborhoods east of town, and west to McLain Flats and Owl Creek)
(Brush Creek Village, Old Snowmass, and Woody Creek)
Total dollar volume
Number of sales over $10m
Dollar volume of all sales over $10 million
Properties placed under contract in Aspen and Snowmass Village,
-52% compared to 2019
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
West Aspen, with 32 closings and 15 pending sales as of October 31
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
Northeast (including New York)
Colorado (outside of the Roaring Fork Valley)
(source: Pitkin County Clerk and Recorder)
Projected total sales for all of 2020