NOTES:

The commercial real estate sales volume in the Aspen Snowmass market in 2022 was $99.4 million, double the 2021 sales volume of $49.8. 

In both years there were 22 commercial real estate transactions completed, however, in 2021 the largest transaction was $8.9 million while in 2022 there were 4 transactions over $10 million in value making up $72 million of the total sales volume. 

On the residential side, from January to December 2022 there were 376 closed residential real estate transactions in the Aspen Snowmass market with a total volume of $2.52 billion in sales. 

Compared to the record-setting year of 2021 which had 763 recorded sales and a total volume of $3.66 billion sales, this is a 31% decline in sales volume with 51% fewer sales transactions. 

This past year also had 44% fewer sales and a 22% lower sales volume compared to 2021. 

That being said, 2022 had a significantly greater sales volume than the pre-pandemic years of 2018 and 2019. 

To get a clearer picture of what happened in 2022, we need to separate the first half of the year from the second half. In the summer of 2022, the Aspen Snowmass real estate market shifted. From January through June, the market was clipping along at a pace very similar to the pace of the market in 2021 and the second half of 2021. During the first half of 2022, the market averaged $263 million in sales per month compared to an average of $305 million in sales per month during 2021 and $474 million in monthly sales in the second half of 2020. In the second half of 2022, that number downshifted to an average of only $157 million in monthly sales, a roughly 40% decline.