Market Update

Woodland Park/Teller County Market Update - August 2018 Commercial Real Estate sales volume of $19M with 18 transactions YTD in 2018 is up 55% compared to sales Jan-July 2017 with 34 transactions worth $19.8M. Residential Real Estate sales for $328M YTD in 2018 are up by 9% compared to sales Jan-July 2017 of $302M. Sales Taxes are up 8% YTD compared to taxes collected Jan-July 2017. New commercial real estate development projects include Natural Grocers that is under construction and opening December 2018, Paradox Brewing expanding their current location in Fall 2018, Charis Bible College to complete 3,200 seat auditorium in Fall 2018, 300 Storage Unit to begin construction in Fall 2018, 50 unit tiny home village to begin construction in Spring 2019 and 18 unit townhome development to begin construction in Spring 2019....

Commercial Real Estate sales volume of $44.7M with 33 transactions YTD in 2018 is up 65.2% compared to sales Jan-July 2017 with 30 transactions worth $27.1M. Residential Real Estate sales for $720M YTD in 2018 are up 8.6% compared to sales Jan-July 2017 of $663M. Sales Taxes are up 10.4% YTD compared to taxes collected Jan-July 2017. New commercial real estate development projects include Keystone Wintergreen Workforce Housing Project, Peak 8 Luxury Hotel and Condominiums, Town of Silverthorne 4th St. Crossing, Town of Silverthorne Smith Ranch Workforce Housing Project and Keystone Seasons Project....

Commercial Real Estate sales volume of $15.7M YTD in 2018 is down 65% compared to sales Jan-July 2017 of $43.9M. Residential Real Estate sales or $816M YTD in 2018 are slightly down compared to sales Jan-July 2017 of $816M. All Sales Taxes are up 5% YTD compared to taxes collected Jan-July 2017. The City of Aspen is under contract to buy 27,000 SF of a soon to be built building for $32.5M. Jazz Aspen-Snowmass is under contract to buy the 2nd floor of Red Onion office space for $15M. New W Hotel in downtown Aspen to be completed in Spring 2019. Snowmass Mall has been sold for $28.5M to local Snowmass ownership group....