Aspen
2025 mirrored 2024 in many ways, with exactly 185 combined sales of single-family homes, condos/townhomes, and land in both years. Sales volume reached nearly $2 billion in 2025, up slightly from $1.9 billion the previous year.
Average price per square foot. Both condo/townhome and single-family segments saw increases in 2025 – 6% and 3%, respectively - though these gains were more moderate than in recent years. Still, prices continue their upward trajectory, and the 10-year average annual appreciation of roughly 10% remains historically impressive.
Inventory. rose modestly by 5% from year-end 2024 (single-family inventory climbed about 10%, though it remains relatively low by historical standards), while properties under contract appear comparable to last year at this time. A growing number of off-market deals makes the true "shadow inventory" difficult to quantify.
Market Supply. Aspen currently has approximately 8 months of condo/townhome inventory (relatively lean for a resort market). If there's a potential soft spot, it's in the $25 million-plus single-family segment, which has over two years of available supply.
Contrary to the national media, the Aspen market has maintained its strength. Sellers actually gained some leverage in 2025, with average list-to-sale discounts around 6% (though the range varies widely - some properties sell at 30%+ discounts while others exceed asking price).
Land. The residential land market remains subdued. Land use code modifications, regulatory hurdles, and construction costs – combined with 4+ year timelines from design to completion – resulted in just 8 land sales in 2025. About a dozen vacant lots are currently listed.
Snowmass Village
Single-family home sales remained steady at 31 in 2025 versus 32 in 2024. The condo/townhome market tells a different story: 73 sales in 2025 compared to 188 in 2024in, though this disparity reflects 2024's surge of Base Village new-construction closings rather than a true market shift.
Historically, Snowmass Village has traded at a 45-50% discount to Aspen on a per-square-foot basis. This gap has narrowed considerably due to premium Base Village condo prices, new/renovated spec homes, and Snowmass Village's overall revitalization. In 2025, the discount averaged about 35%.
Sold Price Per Square Foot. 2025 was the first year both single-family and condo/townhome properties averaged over $2,000 per square foot. More notably, condos currently under contract average over $3,000 per square foot - driven by upcoming Base Village projects - while pending single-family sales suggest continued price growth in 2026.
Inventory is modestly higher year-over-year (accounting for Base Village offerings). When current Base Village contracts close, it will significantly benefit the Snowmass market. The single-family market is especially tight, with fewer than 20 active listings - at times dropping to just 10 available homes during 2025.
Market Supply. With roughly 30-35 single-family sales annually over the past four years and about 8 months of current inventory, upward price pressure should persist through 2026. Average annual appreciation has exceeded 10% over the past decade in Snowmass Village, matching Aspen's trajectory.
Even more so than Aspen, Snowmass Village sellers maintain negotiating leverage, with average list-to-sale discounts below 5%.
The land market has essentially dried up - only 3 sales over four years and no current listings - which will likely increase competition for lower-priced remodel opportunities.
Basalt/Missouri Heights/Carbondale
Much like Aspen, the Mid-Valley stayed pretty consistent with 2024 in many ways – with some slight, stable increases. There were 254 residential sales in 2024 and 272 in 2025. Sales volume hit almost $600 million in 2025, up slightly from just over $500 million the previous year. The average residence price hover just over $2M both years. The average number of days on market stayed almost the same 132 to 138 days – on average.
Average price per square foot. In general, the residential market of Mid-Valley saw at 12% in prices per square foot – $754 in 2024 to $845 in 2025. The continuing growth of these areas with new construction keeps these prices rising.
Average Discounts from sellers only increased slightly to 4% across all segments, clearly bolstered by new construction that rarely sees discounts. Older homes that need work are seeing deeper discounts, closer to 6-8%.
Market Supply. Overall, the Mid-Valley has currently has approximately 5 months of residential supply. Much less supply under $2M.
New Construction still demands an audience will pay over $1000/sf in most cases.
Land. There were exactly same number of land sales in 2025 as in 2024 – 56. The average single-family site sold price was $680,482 in 2024 and jumped to $883,d589 in 2025. Both years saw just over 200 days on the market. With the rising prices, the average discount rose from 5% to 8%. 34 lots are listed for sale, ranging in price from $325,000 up at Ruedi to $12,995,000 in Missouri Heights. 4 of those 34 are currently under contract.
Overall Observations
Watching the Aspen-Snowmass and greater Roaring Fork Valley market unfold has been fascinating. The post-COVID surge has evolved into a stable market that still generally favors sellers (with occasional exceptions). Consistent agents remain busy with healthy buyer pipelines. Our local market often correlates with equity market wealth creation – it'll be interesting to see if this relationship holds in 2026.
