June 2021 Newsletter
Well, summer has officially begun and many of the COVID mandates have been relaxed. That said, many of the precautions are having a lasting effect. Restaurants are offering much more outdoor dining, outdoor activities such as biking, hiking, or rafting are in high demand as a result of our lessons learned from social distancing. This past year has had some surprising effects. Real estate has surged with record sales. Some restaurants had their best year ever due to take-out and restructuring of their business models. We are anticipating an extremely active although modified summer. Following are some comments from Stay Aspen Reservations Activity Reports:
June 2020: June occupancy is currently pacing at 48%, which is 500% better than last year. We are down just (7.2%) to 2019’s 51.7%. With the lifting of the mask mandate on June 4th, we expect this small gap to close which is quite impressive considering the shift in our anchor June events such as F&W Classic to September, and the Aspen Ideas Festival being virtual.
Summer (May-Oct): We are seeing a surge in summer business. Summer occupancy is currently at 40.3% vs. just 9.6% at this same time last year. In comparison to May 31, 2019 summer occupancy on the books was at 34.3%. That is over a 17% increase. We are expecting to break some occupancy records this summer.
I hope to see you this summer.
All the best,
Larry & Katie
How is the market in your neighborhood?
April 2021
Aspen
Single-Family Homes
Highest Sale
421 Willoughby Way
$72,500,000
Quickest Sale
600 Owl Creek Ranch Rd
35 Days on Market
Lowest Sale
623 Johnson Drive
$3,930,000
Aspen
Condos, Townhomes & Duplexes
Highest Sale
212 E Durant Avenue D
$8,525,000
Quickest Sale
107 Thunderbowl Lane
0 Days on Market
Lowest Sale
413 Pacific Avenue 413G
$527,000
Snowmass
Single-Family Homes
Highest Sale
144 Bridge Lane
$8,650,000
Quickest Sale
257 Fairway Drive
1 Days on Market
Lowest Sale
20 Meadow Ranch Road
$1,660,000
Snowmass
Condos, Townhomes & Duplexes
Highest Sale
61 Wood Road R-1
$9,000,000
Quickest Sale
61 Wood Road R-1
0 Days on Market
Lowest Sale
600 Carriage Way J-7
$332,000
Featured Listing
623 Oak Ridge Road
Snowmass Village
4.81 Acre Lot
$2,200,000
Top of the World Views. This lot sits near the end of the very private Wild Ridge Road. The views span 180 degrees and include all 4 ski areas. The lot faces Southeast for early morning and late afternoon sun. One of the largest FAR limits in all of Snowmass. Build up to nearly 8,000 sq. ft.
Successfully Sold
841 Serviceberry
Snowmass Village
1.83 acres
$5,750,000
This is a premier ski-in/ski-out lot of nearly 2 acres right on Cascade ski run. The lot is gently sloping to accommodate a two-story with walk out lower level and large outdoor spaces and a useable yard. Build a 5,500 sq ft home with a 3 car garage or 6,050 sq ft is possible with additional approvals.
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Pitkin County is currently at a LOW level of COVID-19 risk.
