Snowmass Real Estate

The bulk of the Pitkin County real estate market is primarily comprised of Aspen and Snowmass Village.

Both of these vibrant real estate markets continue to be robust despite the continued meltdown of the national market.

Both have shown some softening due to decreased number of transactions while at the same time the median prices continue to appreciate at significant rates.

This is evidenced in Snowmass Village where the number of transactions have gone down, while at the same time, the total dollar volume has gone up.

For Pitkin County as a whole, 2006 showed record setting total sales volume of about $2.3B whereas 2007 showed approximately $2.2B.
     
Aspen is finally feeling some of the affects of the national real estate market meltdown.

However, such affects are felt at a much less degree.

History has proven over the past years that Aspen real estate is the last to feel the affects of an oncoming recession and the first to come out of one.

The transaction volume for Aspen single family home sales decreased from 2006 to 2007 from 134 to 99, a drop of 26.12%.

At the same time, the appreciation of prices continued to rise.

Such offsetting affects caused the total dollar volume to only decrease for the same periods by a relatively small amount, 15.64%.

During the same period, Aspen condo sales dropped form 184 to 152 units, a drop of 17.39%.

Again, because of the appreciation of prices, the dollar volume was only reduced from $204M to $184M, a drop of only 9.80%.
     
Snowmass Village is currently undergoing a major transformation.

During the past year, the Snowmass Mall, Snowmass Center, and the Snowmass Base Village have been bought out by Related/WestPac.

The Snowmass Mall will be completely redeveloped over the next ten years with the addition of a Four Seasons and One and Only Hotel.

The Snowmass Center will also be redeveloped.

Additionally, the new Snowmass Base Village is now celebrating the completion of the Treehouse Children’s Center as well as the completion of some of the first release units of Capital Peak and Hayden Lodge.

Furthermore, Related/WestPac just performed the second release of Snowmass Base Village with an offering of 150 Viceroy Hotel - wholly owned condos and 30 Little Nell Hotel - wholly owned condos.
     
The transaction volume for Snowmass single family home sales decreased from 2006 to 2007 from 57 to 40, a drop of 29.82%.

Despite the drop in transactions, because of the offsetting appreciation of prices, the total dollar volume has actually increased for the same period by 11.44%.

During the same period, Snowmass condo sales dropped form 96 to 89 units, a drop of 7.29%.

Again, because of the appreciation of prices, the dollar volume was increased from $96M to $103M, an increase of 7.29%.

Elevation  8,223 feet at the mall; 11,835 feet at the top of the Big Burn.

Climate Intense, high-altitude sun 300 days a year; cool nights in summer.

Average annual snowfall 200 inches.

Population Nearly 2,000 permanent residents, with lodging for about 10,000 guests.

Schools Aspen School District, with bus service for all grades. Again, check the BJ Adams and Company newsletter on school options.

Transportation Free shuttle around the Village, with frequent bus service to Aspen (15 minutes), as well as to Basalt (20 minutes), Carbondale (30 minutes) or Glenwood Springs (45 minutes). Limo/shuttle to the airport (10 minutes).

Recreation Skiing and snowboarding on Snowmass Mountain and free skier shuttles to Aspen, Buttermilk and Aspen Highlands; free cross-country ski trails; The Snowmass Club (full athletic, golf, and tennis club, with dining and lodging); hiking, mountain biking, even dog-sledding.

Snowmass celebrates 26 years of Fat Tuesday revelry with one of the biggest Mardi Gras bashes in ski country.

This celebration that originated with New Orleans natives themselves starts off with The Mother of All Ascensions - a wild, costumed, 1,741-foot vertical uphill race up Snowmass at the crack of dawn.

Nonstop action follows all day long, including King Cake giveaways, a bead and prize throw, crawdad boils, live music, a crazy costumed parade and mask-making and face painting for kids.

Snowmass Village is hosting a free celebration this weekend in honor of the new Town Hall and to commemorate two significant anniversaries: 40 years of skiing in Snowmass and 30 years of being an incorporated community.

“I can’t think of a better way for the community to celebrate than by having good food, good drink and good friendship in their new community home,” said Mayor Douglas “Merc” Mercatoris, who will be one of the speakers this Saturday.

The weekend’s celebrations begin on Friday, when the Aspen Skiing Co. wishes Snowmass a happy birthday all day long at the Snowmass ski area. Party favors for everyone. A giant “snow” cake on display. And giveaway prizes all day. Bud Light Big Air Friday and the “over the hill” run happens at 2 p.m., followed by the cake and music in the mall at 3 p.m.

And fireworks will light up the Snowmass sky after dark.

“It’s an exciting time in Snowmass,” continued Mayor Merc. “In addition to our new town hall, we will be finishing the new rec center gym this summer along with new tennis courts, outdoor basketball and volleyball.”

At the new town hall on Saturday from 1-4 p .m., the community is invited to celebrate. Free food will be available for all, with beer and wine for adults. Live musical entertainment will be provided by Snowmass Village’s Mike Waters.

A celebration cake and the screening of a 40th anniversary documentary film will also be part of the day’s events.

Special speakers will include the mayor, Dick Moebius who oversaw the construction of the Silvertree Hotel, the Snowmass Inn and the Crestwood Condominiums, the lead town hall architect Jim Gustafson and project architect Jim Kehoe. It is anticipated that the speakers will talk in council chambers from 2-3 p.m.

WHAT YOUR MONEY BUYS IN SNOWMASS VILLAGE

$125,000  A hotel-room-turned-condominium. No pets, please.

$325,000  Bug's-ear studio, close to the slopes.

$450,000  Shared ownership at The Residences at Snowmass Club (5 bdrm) or the slopeside Timbers Club (3 bdrm); new, luxurious, with full facilities and red-carpet service.

$950,000  2-bdrm slopeside condo with complete face lift; looks like new.

$1,500,000  Going, going fast; one of the last undeveloped lots in town.

$1,800,000  Fixer upper in Melton Ranch. Strong foundation to design your own home. Easy access to everything.

$2,750,000  Ski-in/ski-out lot in Ridge Run with jaw-dropping views. Build up to 4500 sq ft.

$3,000,000  Lavishly appointed 4-bdrm townhome on the golf course.

$3,500,000  Renovated ski chalet in the heart of Woodrun. A family classic.

$8,000,000  The best in Snowmass: the finest workmanship and materials, all the trimmings, ski out the door.

Tucked high in the Brush Creek Valley, Snowmass Village, Colorado, is like the shy neighbor who turns out to be vivacious upon closer acquaintance. Within this 25-square-mile town resides over 40 miles of hiking and biking trails and one of the best summer resort music scenes in the state. Surrounded by a spectacularly scenic wilderness area, Snowmass also is one of the few resorts in the U.S. to offer plentiful mountainboarding terrain and the only Colorado resort to offer two 18-hole disc golf courses. It's no coincidence that part of our name is synonymous with "magnitude" and "substance." And yet Snowmass Village is not your typical mountain town. One need only glimpse the grand splendor of Mt. Daly and the faces of people coming off the slopes year-round to understand that this town's core lies amidst a fertile landscape of adventure and rejuvenation.

Snowmass Village is like the quiet, unpretentious neighbor who turns out to be vivacious upon closer acquaintance.  Within this 25-square-mile town resides the second largest ski mountain in Colorado offering nearly 150 miles of trails. Surrounded by a spectacularly scenic wilderness area, Snowmass also connects to the largest network of free groomed Nordic trails in the U.S. It's no coincidence that part of our name is synonymous with "magnitude" and "substance."

Stats lovers take note: Snowmass has the longest lift-served vertical rise in the U.S. and was the first in the country to have a lift operated solely by clean, renewable wind power. Chris Davenport, World Extreme Skiing Champion, says, "the fact is, Snowmass has some of the best steeps, cliffs, couloirs, backcountry, terrain parks, and powder anywhere in North America."

And yet Snowmass is not your typical mountain town. One need only glimpse the grand splendor of Mount Daly and the faces of people coming off the slopes to understand that this town's core lies not on a main street but amidst a fertile landscape of adventure and rejuvenation.

The mountain is our main street, our mecca, our coffee shop, our office. We swap gossip on picnic blankets at the Fanny Hill concerts, catch up as we catch air on the terrain parks and trails. While we live here for the sun-kissed summers and for the glimpses of the elk, fox, and deer who share this unique Shangri-la, we're so dedicated to ensuring our guests feel the same that we instituted a huge guest services program in 2007. From the wild west to wildflowers to wildly enthusiastic locals, the town lives up to its name.

Snowmass Village, then, is pure mountain town. Steeped in ranching history, defined by its scenic mass, flanked by charming boutiques, restaurants, and accommodations, this town offers more potential for mountain stories than ever before. We're celebrating more than ever as well. In 2007 the Snowmass Rodeo opens its 35th consecutive season. The ski mountain turns 40, the town turns 30, and the exciting Base Village project hits full stride. We invite you to stop by for a visit. Our door is always open and we think you'll find this neighbor is one worth getting to know.

 Snowmass Resources