Low Inventory, Sustained Strong Buyer Demand
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After a record-setting year of sales in 2020, the inventory valley-wide is limited.
Basalt and Carbondale have never seen such low inventory levels, and Aspen is not far behind. The demand remains overwhelmingly strong, creating an increasingly competitive marketplace.
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COVID has led to significant shifts in buyer demands and real estate trends nationwide. People of all ages are re-evaluating where and how they want to live. Many luxury second-home markets, like the Roaring Fork Valley, are becoming increasingly desirable.
A recent Bloomberg article highlights the new trends we are seeing, the impact millennials are having on the luxury home markets, as well as the lack of inventory and rising prices. It is hard to predict how long the strong activity will continue, however it certainly seems it is here to stay. I am optimistic we will see more and more sellers emerge as our spring season approaches.
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In 2020, listings in Carbondale and Basalt sold for an average of 97% of the list price.
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In Aspen, listings sold for an average of 94% of the list price.
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In 2020, the average price per sq. ft. for properties sold in Carbondale was $368 per square foot.
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In Basalt, the average sales price was $615, in Aspen, it was $2,013 per square foot.
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Compared to the same time period last year, Jan. 1- Feb. 15th, the total number of active listings in Aspen is down 23%, Mid-Valley, Carbondale to Basalt, active listings are down 54%.
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231 Robinson Street, Unit R324
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Tbd Drake Place, Unit # 1
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Due to limited inventory valley-wide, if you are considering selling, call me, now is an ideal time to sell.
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© Compass 2021 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
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