The Year Ahead In Real Estate – National And Market Specific Insights Series: Colorado And Wyoming

“The Vail and Aspen, Colorado markets are strong.  For Sellers, if they price their properties right, they will sell rather quickly.  Should they list higher than market value they may find their homes sitting with more days on the market.  There is a lot of wealth in both of these ski resorts.  I recently sold a $50M single family home in Vail that was ski in/out and have just listed a beautiful $60 property in the heart of Aspen.   I continually see the market prices increasing with only slight adjustments this past year in decreases.  Inventory is always an issue in these resort markets; we will always have more demand than we supply, given the small size of the markets we are in. We simply don’t have a lot to sell or land to develop. I also think because we have so many cash buyers, the buyers’ market will remain strong.  With our high sales prices buyers can be a bit choosey and will wait for that special property that is in a good location.

Overall, I think our market will stay strong in the mountains. Interest rates are affecting us a little bit of the lower end, but the lower range of our market is under $3M, and instead of getting 4-5 offers, maybe we are getting 2. As we go into 2025, I am predicting an increase in luxury sales.  It is about lifestyle; our high end buyers want to be in a place where they can work and play safely.  While buyers still talk about finding ‘deals’ they really are just not out there; they will be waiting a long time in my opinion to purchase.” - Liz Leeds, Realtor/Slifer, Smith & Frampton Forbes Global Properties