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:
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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.
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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
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LUXURY & LAND MARKET OVERVIEW THE LUXURY COLLECTION
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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 >>>
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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
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NEW CASTLE
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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
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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