Inventory Down 11 Percent in Aspen Area Real Estate

If you’re looking for a home in the Aspen/Snowmass area, there are fewer choices than this time last year. Inventory is down 11 percent, the Aspen Daily News reported, indicating that the market is strengthening and there are fewer properties and land sales available for purchase. In Aspen, condo availability is down 15 percent and single-family homes are down 10 percent. Twenty miles away in Basalt, inventory has dropped 24 percent.

Though overall sales in volume is still lower than 2012, the bulk of last year’s transactions occurred in December, and realtors are observing trends in 2013 to be on pace with the previous year. If inventory continues to drop, it could shift to a seller’s market, which hasn’t happened since 2008.