Second Quarter 2016 REAL ESTATE MARKET REPORT...2015 2016 Downtown Core Downtown Core 59 Properties Sold 41 Properties Sold Avg. Sold Price: $2,499,551 Avg. Sold Price: $2,649,841

Second Quarter 2016

REAL ESTATE MARKET REPORT

presented by KLUG PROPERTIES

[email protected] KlugProperties.com

CHRIS KLUG 970.948.7055

CHRIS KLUG [email protected] KlugProperties.com

I hope you’re enjoying a great summer. It has been a fun one in Aspen Snowmass. The weath-

er has been spectacular. Our town is full and so is our community calendar with non-stop

activities and events. There’s no place like Aspen in the summer. The cliché rings true, “Come

for the winter, stay for the summer.” Come experience it!

I am proud to share my Second Quarter 2016 Aspen Snowmass Klug Properties Market

Report with you. I study the market every day. Here’s what’s going on in our local real estate

market today. We’re off to a slower first half to 2016 compared to last year. 2015 is looking

really strong midway through 2016. Dollar volume so far in 2016 is off by 51% in Aspen

and the number of transactions in Aspen is down 47%. Inventory of all property types has

increased 25% in Aspen. Pending sales volume is down about 30% through June 30, 2016.

Driven by strong single-family home sales Snowmass highlights the Upper Roaring Fork

Valley market with the strongest first two quarters in terms of sold volume since 2008 with

$127,098,375 sold. The number of transactions however are down about 21% overall. While

dollar volume is way up for single-family homes in Snowmass Village through the first two

quarters, thanks in part to a second 10-million plus sale on Edgewood lane in the past year,

condo sales have been terrible. Dollar volume of Snowmass Village condo sales is down

about 36% and transactions are down about the same. Until we see cranes back in Base

Village, and a clearer future picture for Base Village, I think Snowmass condo sales will remain

slow. If you’re looking for an opportunity this is it. There are some fantastic ski-in/ski-out

condo options available today at one of the best family ski/snowboard resorts in the world,

and it’s only going to get better in the future. I still think Snowmass is the land of opportunity,

one of the reasons I just built a brand new home there myself.

With thirty-three ten million plus home sales last year, thirteen through the first six months

of 2015, we’ve only seen seven so far this year this year. There’s over one hundred 10-million

plus choices in our valley today. In McLain Flats alone there’s 23 listings. I am proud to have

the only property currently under contract in McLain Flats and Starwood. I believe this is

Klug Properties

SECOND QUARTER 2016 ANALYSIS


another undervalued area today. If you want to sell today you’ve got to be a price leader,

staged right and marketed aggressively. I believe my comprehensive personal and Sotheby’s

International Realty marketing platform delivers this better than anyone.

Looking at the mid valley market Basalt sold volume is down from 59 million to 48 million,

an 18% decrease with transactions also down from 72 to 64, a 10% decrease. Average sold

price in Basalt through the first six months of 2016 is $754,527 versus $822,406 in 2015,

while average sold price per sq. ft. increased from $291 to $327, an 11% increase. Average

days on market in Basalt are about the same with 214 days. Inventory is pretty consistent

with last year at 159 properties, while pending volume is about half of last year at this time.

I was excited to sell 73 Cains Lane last week for $2,650,000, the second highest sale in Mis-

souri Heights in 2016.

The irony of the slower start the numbers portray, especially in Aspen is that I’m busier than

ever now. I had six different showings in a single day this week, and have shown multiple

properties every day. Our town is 100% occupancy now with lots of buyers looking. The

best selling months are in front of us. Despite a headwind created by cheap oil, a stronger

US Dollar, fluctuating equity markets in the first quarter, and the election our town is full and

visitors and locals are loving it. Don’t write off 2016 yet. It isn’t going to be as strong as 2015,

but the selling season is now. Let’s see where we are in a few months.

I hope my analysis is helpful. This is not a hobby for me. Please call or email anytime with

questions. I’m here full-time ready to help you. Thank you for considering me when buying or

selling in the upper Roaring Fork Valley. I’ve lived here most all my life. I just built a new home

in Snowmass Village that I moved my family into on July 1. There’s no place I’d rather live,

work, play and raise my family. I know the best places on and off the mountain; I am happy to

share my experience and my knowledge and of course my passion for “Living Aspen” with

you. Enjoy the rest of your summer. I hope to catch up with you soon.

Chris Klug

Klug Properties

SECOND QUARTER 2016 ANALYSIS

2015 2016Downtown Core Downtown Core59 Properties Sold 41 Properties SoldAvg. Sold Price: $2,499,551 Avg. Sold Price: $2,649,841Avg. Sold $/SF: $1,432 Avg. Sold $/SF: $1,485Avg. Days on Market: 245 Avg. Days on Market: 199

Downtown Core Downtown CoreSingle Family Homes Single Family Homes4 Properties Sold 2 Properties SoldAvg. Sold Price: $9,762,875 Avg. Sold Price: $8,137,500Avg. Sold $/SF: $2,334 Avg. Sold $/SF: $1,885Avg. Days on Market: 177 Avg. Days on Market: 76

Downtown Core Downtown CoreCondos Condos55 Properties Sold 39 Properties Sold Avg. Sold Price: $1,971,309 Avg. Sold Price: $2,368,423Avg. Sold Price: $1,366 Avg. Sold Price: $1,465Avg. Days on Market: 250 Avg. Days on Market: 205

East Aspen East Aspen12 Properties Sold 5 Properties SoldAvg. Sold Price: $3,739,375 Avg. Sold Price: $5,445,000Avg. Sold $/SF: $1,006 Avg. Sold $/SF: $1,082Avg. Days on Market: 260 Avg. Days on Market: 146

East Aspen East AspenSingle Family Homes Single Family Homes9 Properties Sold 3 Properties SoldAvg. Sold Price: $4,372,500 Avg. Sold Price: $7,683,333Avg. Sold $/SF: $1,026 Avg. Sold $/SF: $1,254Avg. Days on Market: 292 Days on Market: 142

East Aspen East AspenCondos Condos3 Properties Sold 2 Properties SoldAvg. Sold Price: $1,840,000 Avg. Sold Price: $2,087,500Avg. Sold $/SF: $946 Avg. Sold $/SF: $824Avg. Days on Market: 164 Avg. Days on Market: 151

Information is deemed to be reliable but is not guaranteed. © 2016 MLS and FBS .• Prepared by Chris J. Klug


KLUG PROPERTIES REAL ESTATE MARKET REPORT

YTD Through June 30, 2015 & 2016

2015 2016Red Mountain Red Mountain7 Properties Sold 4 Properties SoldAvg. Sold Price: $8,667,857 Avg. Sold Price: $7,506,364Avg. Sold $/SF: $1,378 Avg. Sold $/SF: $1,666Avg. Days on Market: 331 Avg. Days on Market: 373

McLain Flats McLain Flats1 Property Sold 0 Properties SoldAvg. Sold Price: $19,300,000 Avg. Sold Price: 0Avg. Sold $/SF: $1,214 Avg. Sold $/SF: 0Avg. Days on Market: 330 Avg. Days on Market: 0

Smuggler Smuggler11 Properties Sold 4 Properties SoldAvg. Sold Price: $1,221,618 Avg. Sold Price: $1,350,425Avg. Sold $/SF: $829 Avg. Sold $/SF: $987Days on Market: 253 Days on Market: 136

Smuggler SmugglerSingle-Family Homes Single-Family Homes3 Properties Sold 2 Properties Sold Avg. Sold Price: $1,809,167 Avg. Sold Price: $2,169,100Avg. Sold $/SF: $676 Avg. Sold $/SF: $1,102Avg. Days on Market: 334 Avg. Days on Market: 182

Smuggler SmugglerCondos Condos8 Properties Sold 2 Properties SoldAvg. Sold Price: $1,001,288 Avg. Sold Price: $531,500Avg. Sold $/SF: $887 Avg. Sold $/SF: $872Avg. Days on Market: 223 Avg. Days on Market: 90

West Aspen West Aspen 27 Properties Sold 10 Properties SoldAvg. Sold Price: $4,430,481 Avg. Sold Price: $3,568,677Avg. Sold $/SF: $882 Avg. Sold $/SF: $837Avg. Days on Market: 369 Avg. Days on Market: 188





CHRIS KLUG 970.948.7055 [email protected]

2015 2016West Aspen West AspenSingle-Family Homes Single-Family Homes8 Properties Sold 5 Properties SoldAvg. Sold Price: $8,605,375 Avg. Sold Price: $6,369,544Avg. Sold $/SF: $1,156 Avg. Sold $/SF: $1,028Avg. Days on Market: 285 Avg. Days on Market: 263

West Aspen West AspenCondos Condos19 Properties Sold 5 Properties SoldAvg. Sold Price: $2,672,632 Avg. Sold Price: $767,800Avg. Sold $/SF: $767 Avg. Sold $/SF: $646Avg. Days on Market: 404 Avg. Days on Market: 113

West End West End19 Properties Sold 9 Properties SoldAvg. Sold Price: $3,108,947 Avg. Sold Price: $2,416,684Avg. Sold $/SF: $1,337 Avg. Sold $/SF: $1,158Days on Market: 182 Days on Market: 213

West End West EndSingle-Family Homes Single-Family Homes10 Properties Sold 1 Property SoldAvg. Sold Price: $4,698,000 Avg. Sold Price: $5,065,000Avg. Sold $/SF: $1,699 Avg. Sold $/SF: $1,172Avg. Days on Market: 179 Avg. Days on Market: 381

West End West EndCondos Condos9 Properties Sold 8 Properties SoldAvg. Sold Price: $1,343,333 Avg. Sold Price: $2,085,644Avg. Sold $/SF: $933 Avg. Sold $/SF: $1,156Avg. Days on Market: 185 Avg. Days on Market: 192

Snowmass Village Snowmass Village72 Properties Sold 57 Properties SoldAvg. Sold Price: $1,713,671 Avg. Sold Price: $2,229,796Avg. Sold $/SF: $733 Avg. Sold $/SF: $758Avg. Days on Market: 295 Avg. Days on Market: 384





2015 2016Snowmass Village Snowmass VillageSingle-Family Homes Single-Family Homes15 Properties Sold 21 Properties Sold

Avg. Sold Price: $4,333,267 Avg. Sold Price: $4,286,048 Avg. Sold $/SF: $915 Avg. Sold $/SF: $945 Avg. Days on Market: 234 Avg. Days on Market: 384

Snowmass Village Snowmass Village Condos Condos 72 Properties Sold 36 Properties Sold Avg. Sold Price: $1,713,671 Avg. Sold Price: $1,030,316 Avg. Sold $/SF: $733 Avg. Sold $/SF: $648 Avg. Days on Market: 295 Avg. Days on Market: 385

Brush Creek Village Brush Creek Village 0 Properties Sold 0 Properties SoldAvg. Sold Price: 0 Avg. Sold Price: 0

Avg. Sold $/SF: 0 Avg. Sold $/SF: 0Avg. Days on Market: 0 Avg. Days on Market: 0

Woody Creek Woody Creek5 Properties Sold 5 Properties SoldAvg. Sold Price: $8,883,333 Avg. Sold Price: $ 1,805,090Avg. Sold $/SF: $1,212 Avg. Sold $/SF: $701Avg. Days on Market: 832 Avg. Days on Market: 175

Woody Creek Woody CreekSingle-Family Homes Single-Family3 Properties Sold 5 Properties SoldAvg. Sold Price: $8,883,333 Avg. Sold Price: $1,805,090Avg. Sold $/SF: $1,212 Avg. Sold $/SF: $701Avg. Days on Market: 832 Avg. Days on Market: 175

Woody Creek Woody CreekCondos Condos2 Properties Sold 0 Properties SoldAvg. Sold Price: $ 254,500 Avg. Sold Price: $0Avg. Sold $/SF: $458 Avg. Sold $/SF: $0Avg. Days on Market: 121 Avg. Days on Market: 0





2015 2016Old Snowmass Old Snowmass

8 Properties Sold 6 Properties SoldAvg. Sold Price: $4,935,143 Avg. Sold Price: $769,417Avg. Sold $/SF: $1,555 Avg. Sold $/SF: $294Avg. Days on Market: 902 Avg. Days on Market 195

Old Snowmass Old SnowmassSingle-Family Homes Single-Family Homes7 Properties Sold 6 Properties SoldAvg. Sold Price: $2,350,143 Avg. Sold Price: $769,417Avg. Sold $/SF: $830 Avg. Sold $/SF: $294Avg. Days on Market: 769 Avg. Days on Market: 195

Old Snowmass Old SnowmassCondos - Farm/Ranch Condos - Farm/Ranch1 Property Sold 0 Properties SoldAvg. Sold Price: $2,585,000 Avg. Sold Price: $0Avg. Sold $/SF: $726 Avg. Sold $/SF: $0Avg. Days on Market: 133 Avg. Days on Market:

Basalt Basalt72 Properties Sold 64 Properties SoldAvg. Sold Price: $822,406 Avg. Sold Price: $754,527Avg. Sold $/SF: $291 Avg. Sold $/SF: $327Avg. Days on Market: 217 Avg. Days on Market: 214

Basalt BasaltSingle-Family Homes Single-Family Homes33 Properties Sold 32 Properties SoldAvg. Sold Price: $718,294 Avg. Sold Price: $855,665Avg. Sold $/SF: $280 Avg. Sold $/SF: $302Avg. Days on Market: 267 Avg. Days on Market: 185

Basalt BasaltCondos Condos 36 Properties Sold 31 Properties SoldAvg. Sold Price: $437,319 Avg. Sold Price: $631,080Avg. Sold $/SF: 274 Avg. Sold $/SF: $351Avg. Days on Market: 171 Avg. Days on Market: 243






ASPEN



$320,000,000

$300,000,000

$280,000,000

$260,000,000

$240,000,000

$200,000,000

$180,000,000

$160,000,000

$140,000,000

$120,000,000

$100,000,000

$80,000,000

$60,000,000

$40,000,000

$20,000,0000

20000000400000006000000080000000

100000000120000000140000000160000000180000000200000000220000000240000000260000000280000000300000000320000000340000000360000000

20072008

20092010

20112012

20132014

20152016 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Aspen Single-Family Sold Volume

0

100

200

300

400

500

600

700

800

900

1000

1100

1200

1300

1400

1500

1600

20072008

20092010

20112012

20132014

20152016 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Aspen Single-Family Average Sold Price Per Sq Ft$1500

$1400

$1300

$1200

$1100

$1000

$900

$800

$700

$600

$500

$400

$300

$200

$100



0

500000

1000000

1500000

2000000

2500000

3000000

3500000

4000000

4500000

5000000

5500000

6000000

6500000

7000000

7500000

8000000

20072008

20092010

20112012

20132014

20152016 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

$7,000,000

$6,500,000

$6,000,000

$5,500,000

$5,000,000

$4,500,000

$4,000,000

$3,500,000

$3,000,000

$2,500,000

$2,000,000

$1,150,000

$1,000,000

$500,000

Aspen Single-Family Average Sold Price

ASPEN

Aspen Condo Sold Volume$180,000,000$170,000,000$160,000,000$150,000,000$140,000,000$130,000,000$120,000,000$110,000,000$100,000,000$90,000,000$80,000,000$70,000,000$60,000,000$50,000,000$40,000,000$30,000,000$20,000,000$10,000,000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016


ASPEN



0

200

400

600

800

1000

1200

1400

1600

1800

2000

2200

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

$2,000

$1,800

$1,600

$1,400

$1,200

$1,000

$800

$600

$400

$200

Aspen Condo Average Sold Price Per Sq Ft

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 0

200000

400000

600000

800000

1000000

1200000

1400000

1600000

1800000

2000000

2200000

2400000

2600000

20072008

20092010

20112012

20132014

20152016

Aspen Condo Average Sold Price

$2,200,000

$2,000,000

$1,800,000

$1,600,000

$1,400,000

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000


SNOWMASS VILLAGE


$160,000,000

$150,000,000

$140,000,000

$130,000,000

$120,000,000

$110,000,000

$100,000,000

$90,000,000

$80,000,000

$70,000,000

$60,000,000

$50,000,000

$40,000,000

$30,000,000

$20,000,000

$10,000,0000

100000002000000030000000400000005000000060000000700000008000000090000000

100000000110000000120000000130000000140000000150000000160000000170000000180000000

20072008

20092010

20112012

20132014

20152016 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

SMV Single-Family Sold Volume


0100200300400500600700800900

100011001200130014001500160017001800

20072008

20092010

20112012

20132014

20152016 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

SMV Single-Family Average Sold Price Per Sq Ft$1600$1500$1400

$1300$1200$1100$1000

$900

$800

$700

$600

$500

$400$300

$200

$100

SNOWMASS VILLAGE


Aspen Condo Sold Volume$70,500,000

$70,000,000

$60,500,000

$60,000,000

$50,500,000

$50,000,000

$40,500,000

$40,000,000

$30,500,000

$30,000,000

$20,500,000

$20,000,000

$10,500,000

$10,000,000

$5,000,000

0

5000000

10000000

15000000

20000000

25000000

30000000

35000000

40000000

45000000

50000000

55000000

60000000

65000000

70000000

75000000

80000000

20072008

20092010

20112012

20132014

20152016 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

SMV Condo Sold Volume

0

500000

1000000

1500000

2000000

2500000

3000000

3500000

4000000

4500000

5000000

5500000

6000000

6500000

7000000

7500000

8000000

8500000

20072008

20092010

20112012

20132014

20152016 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

$8,000,000

$7,500,000

$7,000,000

$6,500,000

$6,000,000

$5,500,000

$5,000,000

$4,500,000

$4,000,000

$3,500,000

$3,000,000

$2,500,000

$2,000,000

$1,150,000

$1,000,000

$500,000

SMV Single-Family Average Sold Price



SNOWMASS VILLAGE



2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 0

100000

200000

300000

400000

500000

600000

700000

800000

900000

1000000

1100000

1200000

1300000

1400000

20072008

20092010

20112012

20132014

20152016

SMV Condo Average Sold Price$1,300,000

$1,200,000

$1,100,000

$1,000,000

$900,000

$800,000

$700,000

$600,000

$500,000

$400,000

$300,000

$200,000

$100,000

0

100

200

300

400

500

600

700

800

900

1000

1100

1200

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

$1,100

$1,000

$900

$800

$700

$600

$500

$400

$300

$200

$100

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

SMV Condo Average Sold Price Per Sq Ft

Source: Aspen Board of Realtors Multiple Listing Service

# Top 10 Companies $ Volume Market Share1 Aspen Snowmass Sotheby’s $ 374,935,958 24.962 Coldwell Banker Mason Morse $ 255,589,663 17.013 Douglas Elliman Real Estate $ 70,033,088 4.664 Aspen Snowmass Properties/ $ 58,944,913 3.92 BJ Adams and Company 5 Whitman Fine Properties $ 44,250,000 2.956 Shane/Compass Aspen $ 42,152,788 2.817 The Property Shop Inc $ 38,146,446 2.548 Lorrie B Aspen $ 37,190,000 2.489 Aspen Associates Realty $ 34,304,500 2.2810 Vicki Lee Green Realtors $ 32,958,314 2.19

All Other Companies $ 513,760,308 34.2 $1,502,265,978 100

The P

rope

rty S

hop

Inc.

All Others

Coldwell Banker Mason Morse

Shan

e/C

ompa

ss A

spen

Whi

tman

Fin

e Pro

pert

ies

Aspen

Asso

ciates

Realty

Aspe

n Sn

owm

ass P

rope

rtie

s/

BJ A

dam

s and

Com

pany

#1

24.96%

Vicki Lee Green Realtors L

LC

Douglas Elliman

Real Estate

Lorri

e B A

spen

2016 MARKET SHARE January 1,2016 to June 30, 2016


Documents

Second Quarter 2016 REAL ESTATE MARKET REPORT...2015 2016 Downtown Core Downtown Core 59 Properties Sold 41 Properties Sold Avg. Sold Price: $2,499,551 Avg. Sold Price: $2,649,841