July In Aspen

Happy Fourth of July week! We love celebrating our nation’s Independence Day, especially in Aspen, which hosts one of the country’s most historic and colorful parades. It’s been a staple here in Aspen since 1884! We are excited about The Agency’s participation in the parade this year with a customized float honoring the 2024 theme “Yeti To Party.” We would love to see you at the parade!

We are now halfway through 2024, and the real estate stats for Aspen and surrounding communities are interesting and reflective of what some may find to be a confusing market. The average sale price in Aspen for single-family homes went up year over year from $15 million to $21.3 million, marking yet another huge increase in average sale price. However, volume is simultaneously down 13.2%. This tells us that prime homes and properties are still going up in value, while buyers are not rushing to the market like they were even last year to buy for the sake of buying. In short, the market is now more impacted by higher levels of buyer discretion.

Condos in Aspen are a different story. The metrics flip here. The volume for the condo market in Aspen is up 68% year over year. However, prices went down 17%, making home sellers more realistic about valuations post-COVID.

Surrounding communities in the Roaring Fork Valley have low inventory, keeping pressure on pricing and offering more affordable alternatives to Aspen. Have a great holiday week, and we look forward to answering any questions about the market or showing you what we feel is great value.

The McLaughlin Team | 205 S Mill St #110 | Aspen, CO 81611 US