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Market Data

Aspen Real Estate Market Report

August 20th, 2014

When Inventory drops and median prices increase, that indicates a sellers market. Aspen real estate is a very seasonal market—it has seasonal swings in activity. Specifically, the biggest sales months are March, July and October. That means that the closings are roughly a month later—in April, August and November. Data that we see on these graphs is just beginning to account for the July 2014 sales, and does not account for October sales yet.

What we are seeing locally this summer is more homes being sold than new homes being listed. We are also seeing a continuation of the median price increase. Therefore, combining these observations with the graph data on the right here, we see this as a solid sellers market. Still, we have variations by specific neighborhoods. The highest prices per sq foot are still-Core of town, near east end and near west end plus Red Mountain! The farther from the core of Aspen, the fewer dollars per square foot---Like Starwood, Maroon Creek Club and Mountain Valley.

Call us at 970.920.0020 to talk about it.

The Market Action Index (MAI) illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. An MAI value greater than 30 typically indicates a "Seller's Market" (a.k.a. "Hot Market") because demand is high enough to quickly absorb available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a "Buyer's Market" (a.k.a. "Cold Market") where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market will typically cause prices to fall.

Keep in mind that an MAI value close to "30" probably means that the local market is balanced or neutral. So if the MAI for your local market is somewhere between 27-33, then it's likely to be either a buyer's market or seller's market based on the individual street or home area that a particular property is in. [1]  This number will rise this Q4 based on the above considerations.

Archive

Median Price: Small Chart
Total Inventory: Small Chart
Average Days on Market: Small Chart
Median Price per Sqft: Small Chart
Median MAI: Small Chart