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The incredible pandemic-induced local real estate surge of 2020 was even bigger in 2021. This past 12 months was another record-setting year for residential transactions in the Aspen-Snowmass market, with over $3.6 billion in recorded sales volume.

This was a 12% increase over the previously record-setting year of 2020. Besides the overall sales volume, there was a new record set for overall residential sales transactions of 763. This was a 14% increase over the 668 residential transactions we saw in 2020 and a 70% increase over the average annual number of pre-pandemic residential sales that took place in 2018 and 2019.

The last time we saw this level of residential sales was back in 2005, when the previous record was set at 712 transactions. In terms of valuations, the best indicator of how the overall market values have changed in one year is to look at the median sales price of single-family homes. In 2021, the median sales price of a home in Aspen increased 8.3% to $9.5 million, while in Snowmass that number increased 43.5%, to $5.2 million. Without a doubt, 2021 was an exceptional year for the residential real estate market in the Aspen-Snowmass area.