In simple terms a buyer’s market is when buyers have a wide variety of properties on offer. Prices are flat or in a down trend. There is plenty of inventory to choose from. Properties are generally selling below asking price. Sellers almost never receive competing offers. Properties are on the market for a longer average period of time.
Unfortunately for buyers, Aspen real estate has never seen a true buyer’s market. But in a way that is also very reassuring for any new buyers. Even though they will have to step up to the plate and offer close to the asking price to secure any property they can be confident when it comes time to sell they will be in a comfortable situation.

A seller’s market in contrast would be described as one where there is very little property inventory to choose from. Several buyers are often competing for the same property. Well priced properties sell quickly, sometimes even on the same day they hit the market. Properties sell for close to the asking price and sometimes even above the asking price.

Aspen real estate and Snowmass real estate are currently in a phase of a seller’s market. All the above criteria apply to Aspen and Snowmass properties.
The owners and sellers of Aspen properties are currently in the drivers seat. Prices are appreciating in the Roaring Fork Valley. The average time from listing a property in Aspen to when it is sold has decreased significantly over the last year.