Aspen, CO December 2024 Real Estate Summary

2024 Market Summary: Timing Was Key

In 2024, timing played a crucial role in the Aspen Real Estate market. Sales peaked at $21.4M in June, dipped to $14.6M in September, and rebounded to $17.6M in December. Despite the strong December recovery, a weak fourth quarter resulted in an overall average sales decline of 12.5% year-over-year.

On a brighter note, robust summer sales (April to July) drove the yearly average up by 17% compared to 2023. December's average sales price rose 30.8% over the previous December. However, sluggish activity in November led to a 12.5% year-over-year and 3.3% year-to-date drop in the average sales price when leveled across the last three months.

Inventory challenges remain a concern. In December, 23 homes were listed, but only 12 sold. For the year, 80 homes sold compared to 148 that came to market. This excess inventory is likely to exert downward pressure on prices as we move into 2025.

If you’re considering entering the 2025 market, whether to buy or sell, reach out to discuss timing strategies tailored to your goals.

   Dec. Sold Listings: 4   -33.3%

Dec. Average: $23,262,500   +55%

Dec. Days on Market: 158 Days   -35.5%