Page 24 - Estin Report - MOCKUP

Quarterly Market Direction For Snowmass Village (SMV)
This report covers Aspen and Snowmass Village real estate sales for H2 2021 (Jul 1– Dec 7, 21 YTD) and YR 2021 (Jan 1– Dec 7, 21
YTD). It compares year over year results and historical data from the past 10+ years. There are two sections:
Recovery
1 2 3 4 5 6 7 8 9 10 11 12
Begins:
SMV QUARTERLY DOLLAR AND UNIT SALES OVER TIME
1. The Aspen Market (includes Aspen, Brush Cr Village, and both Woody Creek and Old Snowmass sales over $1.5M) All lines represent $ volume by property type (left axis) except total unit sales (the right axis)
2. The Snowmass Village Market (the ski resort) Salesarebrokenoutbyaveragedianprices,pricepersize,byneighborhopropertytypes:singlefamily homes,condos,townhomes,dupndresidentialvacants—allsoldatover$Thedataisreviewedand scrubbed: fractionals, mobile ho subsidized housing s not included, and o t home sales (teardowns, pre- 1990)wheremostofthevalueisand,aremoreaccurantedasvacantlandhefocusisontheupperRoaring
Fork Valley as what happens in A data for 10 yrs. For periods furth
Aspen broker and native Tim Coldwell Banker a few ye was awarded Coldwell B than half of 1% of its 116
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· Since 2006, he has written and published the Estin Report and blog on Aspen real estate at www.EstinAspen.com.
Print editions are available at the Sotheby’s 415 E. Hyman and 300 S. Spring St offices and throughout town. The
*Total Unit Sales refer to all Res. w/ Improvement; excludes Vacant Land due to scale.
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SMV Up-Cycle Has Legs: Unit sales start to rise consistently. Takes off
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· He consistently places in the top tier of Aspen real estate agents for sales performance and has be
recognized as one of the Best Real Estate Agents in Colorado by RealTrends the nation’s leading
research organization.
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Estin Report is the original sales, marketing and research platform for Aspen Snowmass real estate information. Since the absolute bottom of the Great Recession in 2009, it appears as if the SMV market has been on a steady rise. In reality, boots
on the ground, that’s been far from the case. The SMV market did not start to turn until late 2018. In 2017, East West Partners bought
· Named "One of the town's best real estate brokers" by local media and cited regularly by national media.
out an uncommitted owner, The Related Co’s, to take over the recession-dormant, uncompleted Base Village (BV) development project
and finish out the entitlements 10 years after their approval. Hence, the current up-cycle and growing optimism for SMV didn’t really
· Served 5 years as the Aspen Board of Realtors Liaison to City of Aspen. Separately, he also served 5 years as the ABOR
take hold until 2018. As new BV product came on line, sales surged in late 2018 and 2019. And onward into 2020-2021, as Aspen
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· The singular broker selected by Pitkin County Board of Commissioners from the 800 member Aspen Board of Realtors
Yearly Market Direction For Snowmass Village Since 2007
to serve on the Pitkin County Land Use Code Rewrite /Technical Advisory Group - a 3 year process.
SMV YEARLY DOLLAR AND UNIT SALES SINCE 2007
All lines represent $ volume by property type (left axis) except total unit sales (the right axis)
· Former market associate/consultant with Sno-engineering Inc, the pre-eminent international mountain resort planning firm in the US., then based in Aspen, CO and Lyme, NH. Now called SE Group.
· Founding direc system betw
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*Total Unit Sales refer to all Residential w/ Improvement; exCclAuLdeLsEVSaTcaINnt.L9an7d0d.3ue09to.6s1ca6le3.. © Estin Report: H2 & YR 2021 EstinAspen.com
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Estitin Re he follow
Election Year
SMV Up-Cycle Has Legs...Unit sales start to rise consistently
port,
due to new-built Base Village
ing:
Wall Street Journal, Business Week, CBS MarketWatch, Bloomberg Report, Denver P Financial Times, Forbes, BBC, Aspen Times, Aspen Daily News, NPR/KAJX, Colorad
Recovery 1 2 3 4 5 6 7 8 9 10 11
Begins: “ONEOFTHETOWN’SBESTBROKERS”, REPORTSLOCALMEDIA.WANTASPEN?
condo offerings and almost 30-50% discount SMV to
ost, Boston Globe,
Aspen prices. Sales take off post-elections but in 2020,
o Public Radio
Covid-19 lockdown hits.
Page 24
EstinAspen.com
H2 & YR 2021: ASPEN SNOWMASS REAL ESTATE MARKET