The 2022 Silfer Report | Roaring Fork Valley

THE SLIFER REPORT 2022 ROARING FORK VALLEY | Annual Real Estate Market Review

CO N T E N T S Letter From Our President........................................ 3 Market Overview............................................................ 4 Luxury Market Overview............................................ 5 Forbes Global Properties........................................... 8

SOUTH

TO

NORTH

Aspen................................................................................... 6 Snowmass.......................................................................... 7 Basalt................................................................................. 10 Carbondale....................................................................... 11 Glenwood Springs........................................................ 12

STAY UP TO DATE ALL YEAR LONG Our team of market experts updates The Slifer Report every quarter. To see the latest numbers and dive even deeper into the report scan the code or visit:

AspenRealEstate.com/Slifer-Report

New Castle.......................................................................13

SOURCE Sold residential and land properties within the Roaring Fork Valley, counting both listing and buy sides from January 1, 2021-December 31, 2021. Source of all data in this report is the Aspen and Glenwood Springs Multiple Listing Services. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton broker for more information. ©2022 Slifer Smith & Frampton Real Estate.

S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 2

LOOKING BACK ON 2021, AN INCREDIBLE YEAR As we begin the new year with a few feet of fresh snow and the postcard perfect holiday season that made Aspen/Snowmass the world-renowned destination it is today, the real estate market remains incredibly strong.

The simple economic factors of limited supply and increasing demand continue to drive numbers to recordbreaking heights in many of our state’s mountain resort communities – but it’s especially true here in the Roaring Fork Valley.

Pitkin County recorded over $4 billion in sales in 2021 and the average price of a single-family home in Aspen topped out at $12 million. There was a total of 141 single family home sales in Aspen over the past year.

Buyers continue to move from urban centers to mountain communities like the Roaring Fork Valley. We’ve seen second homes turn into primary residences and people moving to our Valley semi full-time. Now that we’ve moved from the office boardroom to the virtual meeting room, people are leaving their metropolitan lifestyles for mountain town living, a place where they can spend time enjoying our mountain valleys.

As the trend of low inventory and high demand continues, we’ve seen new developments sell out before a shovel even hits the ground. This is especially true in Snowmass Base Village, where we had a total sellout of One Snowmass to the tune of $131,480,000 in sales; The Havens sold out 10 units in 42 days for $66,300,000, Electric Pass Lodge sold 52 units in 100 days for $103,305,000 and the Limelight sold out for $30,160,000. Keep in mind, none of the units in The Havens or Electric Pass Lodge will close until 2023; the fact that they have sold so quickly demonstrates the fervor created by the demand in this market.

As we look ahead, we don’t expect the intensity of demand to lessen in 2022. All market indicators show that due to a wide variety of factors, inventory is not going to free up, and therefore we anticipate that pricing will not drop in 2022 but only continue to rise.

We are especially proud of our market’s performance and the contribution we’ve made here in the Roaring Fork Valley. Since we joined Slifer Smith & Frampton two years ago, we have increased total sales volume by 1,124% and risen in real estate total sales volume company rankings from 22nd to 8th overall. SSF is also a founding member of Forbes Global Properties, a consumer marketplace and membership network of elite brokerages selling the world’s most luxurious homes. Through SSF’s affiliation with Luxury Portfolio International, Leading Real Estate Companies of the World and Forbes Global Properties, the firm is able to be locally based while having a global reach, which ultimately enables SSF to be a highly competitive option for buyers and sellers in Colorado’s luxury real estate market. We have seen tremendous growth in the last year as a result of this new partnership.

As we begin this New Year, one thing remains the same: Slifer Smith & Frampton provides us with the stability of a locally owned, communityoriented company that’s been in existence for 60 years. We are the only real estate company in the Roaring Fork Valley who can say that.

As we celebrate 60 years in operation for our firm in 2022, it will be that same vision, foresight and innovation that will help guide SSF and the Roaring Fork Valley for the next 60 years.

KRISTA KLEES

Market President Roaring Fork Valley

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MARKET OVERVIEW

S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 4

LUXURY & LAND MARKET OVERVIEW THE LUXURY COLLECTION

T H E S L I F E R R E P O R T R O A R I N G F O R K VA L L E Y 2 0 2 2 | 5

ASPEN

S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 6

SNOWMASS VILLAGE

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FROM ASPEN TO DENVER AND AROUND THE WORLD

70

GYPSUM

EAGLE

EAGLE COUNT Y AIRPORT

70

<< TO GRAND JUNCTION 70

GLENWOOD SPRINGS

NORTH

82

EL JEBEL CARBONDAL E WILLITS

BASALT

82

WOODY CREEK

SNOWMASS VILLAGE SNOWMASS SKI RESORT

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ASPEN BUTTERMILK MTN ASPEN HIGHLANDS

ASPEN SKI RESORT

FORBES GLOBAL PROPERTIES IN 2021

1 of 10

135

2,400

2,855

FOUNDING MEMBERS

WORLD-WIDE LOCATIONS

LUXURY EXPERTS

LUXURY LISTINGS FEATURED

WOLCOT T

EDWARDS

TO DENVER >> 70

DOWNTOWN DENVER

70

CORDILLERA

VAIL

AVON

ARROWHEAD BACHELOR GULCH

EAGLEVAIL BEAVER CREEK

SILVERTHORNE KEYSTONE RESORT

VAIL SKI RESORT

KEYSTONE

MINTURN

FRISCO

BEAVER CREEK SKI RESORT

COPPER MOUNTAIN BRECKENRIDGE SKI RESORT

BRECKENRIDGE

Established in 2020 with 10 founding members, the invitation-only network now spans 135 locations and comprises approximately 2,400 luxury property experts across the U.S., Asia, Australia, Canada, Mexico, the Middle East, and Europe. More than 100 million monthly visitors to forbes.com enjoy unrivaled access to an elite collection of properties presented within the hallmark context of trusted editorial content and timely market data.

Forb esGlobalProp er ties.com >>>

T H E S L I F E R R E P O R T R O A R I N G F O R K VA L L E Y 2 0 2 2 | 9

BASALT

S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 1 0

CARBONDALE

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GLENWOOD SPRINGS

S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 1 2

NEW CASTLE

T H E S L I F E R R E P O R T R O A R I N G F O R K VA L L E Y 2 0 2 2 | 1 3

We are proud to be the only brokerage in Colorado with a full division dedicated to bringing new developments to market. Our end to end service has delivered another record year in 2021, creating more new homes in our communities than ever before.

To learn more, visit SliferDevelopmentSales.com >>>

ROARING FORK VALLEY PROJECT HIGHLIGHTS

571

$ Million

ELECTRIC PASS LODGE Snowmass

2021 Sales Volume In 2021 our teams sold $571,257,858 in new development sales.*

SOLD OUT 100% electric-powered condos Now under construction ElectricPassLodge.com

343

HAVENS ON FANNY HILL Snowmass

New Homes Sold in 2021 In 2021 our teams sold 343 new homes to our valued clients.*

SOLD OUT Slopeside private residences Delivering through winter 2022 HavensSnowmass.com

3

ONE SNOWMASS WHOLE OWNERSHIP Snowmass

Sold Out Projects In 2021 our team sold out 3 new projects in the Roaring Fork Valley.

Condos in the new base village Whole ownership - sold out Residence club - now available OneSnowmass.com

2021 NEW DEVELOPMENT SALES OVERVIEW AREA

CLOSED VOLUME

CONTRACTS PENDING CLOSED VOLUME

Roaring Fork Valley

$42,413,003

17

$224,843,977 91

$267,256,980

108

Eagle County

$95,915,378

47

$63,485,000

17

$159,400,378

64

Summit County

$10,773,000

15

$133,827,500

156

$144,600,500

171

Total

$149,101,381

79

$422,156,477

264

$571,257,858

343

S L I F E R S M I T H & F R A M P T O N R E A L E S TAT E | 1 4

PENDING TOTAL CONTRACTS VOLUME

TOTAL CONTRACTS

*Pending and closed sales volume and sides 1.1.21-12.31.21

CELEBRATING 60 YEARS Founded on Bridge Street, Vail back in 1962 no one has a connection to Colorado real estate quite like Slifer Smith & Frampton. Over the years we have grown to the hundreds of brokers you know today working in neighborhoods from Aspen to Denver, but our commitment to our valued clients remains as unwavering as ever.

Slifer Smith & Frampton THEN...

...and NOW

1 Broker

250+ Brokers

1 Office

30+ Offices

Bridge Street, Vail

Across Colorado

1 Market

4 Markets

Just Vail

From Aspen to Denver

T H E S L I F E R R E P O R T R O A R I N G F O R K VA L L E Y 2 0 2 2 | 1 5

STAY UP TO DATE ALL YEAR LONG Our team of market experts updates The Slifer Report every quarter. To see the latest numbers and dive even deeper into the report scan the code or visit:

AspenRealEstate.com/Slifer-Report