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Year-End Real Estate Trends Taking Shape

As we near the end of 2016, we're seeing annual trends take shape. It has been an interesting year of highs and lows. We saw a new record for price per square foot just this month when a Dancing Bear Aspen penthouse sold for $5,427, exceeding the previous record by more than $1,100 per square foot. On the flipside, we've seen a significant market correction when examining the first 11 months of real estate sales volume in 2016.

Aspen real estate

Aspen & Pitkin County Market Data: November 2016Year-over-year real estate statistics for single family homes in Aspen during 2016 show that active listings are down -3% from 184 to 179, and sold listings are down -48% from 102 to 53. Aspen, Co real estate statistics show that average sales price is down -15%, with the average home price at $5.9 M with a 0.4% drop in list price received. Properties are moving a little quicker with this year's reporting showing reduced days on the market at 170 versus 203 last year. Overall we are seeing that new listings remain close to flat with a decrease in sales volume and prices.

Year-over-year statistics for townhomes and condominiums in Aspen during 2016 show new listings are down -13% from 244 to 213 and sold listings are down -28% from 174 to 126. Average price is up nearly 2% at $2.0 M, and buyers are receiving an average 5% discount off list price. Condos and townhomes are averaging 175 days on the market, which is slightly longer than 2015. Year-to-date we see that the townhome inventory is down, sales volume is down, and there's a slight increase in the average sales price.

Frias Properties of Aspen offers local and knowledgeable Aspen real estate brokers, available 7 days a week, to help you sell your property. Whether you are interested in selling or upgrading - or if you just want to learn more about the real estate market - we are here to share our decades of local real estate knowledge. Contact us today to discuss what is happening with Aspen real estate.