The Aspen-Snowmass residential market slowed materially during the first half of 2026. Combined Aspen and Snowmass closed-sales volume fell approximately 38%, with Aspen transactions down about 27% and Snowmass Village transactions down about 37%. Marketing times increased sharply, yet average inventory remained nearly flat. Prices have therefore held better than transaction activity: Aspen’s median single-family…
The Aspen-Snowmass residential market slowed materially during the first half of 2026. Combined Aspen and Snowmass closed-sales volume fell approximately 38%, with Aspen transactions down about 27% and Snowmass Village transactions down about 37%. Marketing times increased sharply, yet average inventory remained nearly flat. Prices have therefore held better than transaction activity: Aspen’s median single-family price declined, while condominium values and Snowmass reported prices remained firm, in part because a small number of high-value sales can materially influence this market. The current condition is best described as a liquidity slowdown rather than a broad-based price correction.
Commercial property sales strengthened sharply during the first half of 2026: 18 qualifying real-estate transactions totaling $102.5 million, versus 3 transactions totaling $13.2 million in the first half of 2025 – increases of 500% and approximately 677%, respectively. However, five sales priced at $10 million or more accounted for roughly $75.8 million, or 74% of 2026 volume, showing that the improvement was concentrated in larger transactions. Downtown Aspen vacancy remains near 1.6%, with prime retail rents around $275-$325 per square foot and office rents around $66- $100 per square foot. Scarcity supports well-located, well-leased properties, while secondary or lease-up assets face greater buyer scrutiny.
| 2025 | 2026 | %+- | |
| VELOCITY (Source – Aspen MLS) | |||
| Commercial Sales Volume |
$13.2M |
$102.5M |
676.8% |
| Commercial Transactions | 3 | 18 |
500% |
| VACANCY RATE |
1.6% |
1.6% |
-0% |
| CAP RATE |
4.5 – 6.0% |
4.5 – 6.0% |
0% |
| SALES TAX INDICATORS (Source – City of Aspen YTD June 2026) | |||
| All Sales Tax (YTD) |
$592.1M |
$571.9M |
-3.4% |
| Lodging Taxes (YTD) |
$146.8M |
$141.1M |
-3.9% |
YTD
