3 graphs about the Aspen $20 million+ market
Over the past few years there has been a seismic shift at the upper-end of the Aspen single family home market
Sales of $20 million+ Aspen single family homes historically accounted for about 2-3% of the entire market every year (and were never higher than 5% until 2020)…since 2020 that number has ranged between 14% and 28%!
While the Aspen market remains impressively strong above $20 million, there are clear signs that listing inventory is rising for Aspen $20 million+ single family homes…and the absorption rate isn’t rising commensurately…
…Some sellers will either need to recalibrate their price expectations to find the next buyer, or perhaps expect a listing timeframe that could easily exceed two years.
The Aspen market has historically experienced rapid shifts, especially at the highest price points of the market. The current dynamic seems to be shifting to a state of oversupply…but that could change quickly if buyer demand increases in 2024, will it?
