Knowledgeable buyers often consider Telluride an excellent value when compared to Aspen and Vail especially considering overall price points. The table below highlights key metrics in multiple markets with an emphasis of comparing downtown areas and ski resort areas against one another.
Aspen Central Core
The Aspen Central Core experienced seven consecutive years of price appreciation through 2019. Although prices went up, the number of transactions fell in 2019 compared to the year before. A total of 19 properties closed for over $5 million including 8 over $10 million and 1 over $15 million. By comparison, only six properties closed in the Town of Telluride for over $5 million in 2019.
Snowmass Village sustained seven consecutive years of relatively flat prices through 2019. Unlike nearby Aspen, however, the number of transactions increased in 2019 compared to 2018. Of the 47 homes that sold in 2019, three closed for over $6 million versus six homes in Mountain Village.
Beaver Creek substantially outperformed the previous year in the number of sales and total sales volume, but average sales prices fell significantly for both homes and condos. Average price per square foot held steady for both segments in the resort. While Mountain Village falls short of Beaver Creek in number of sales, Mountain Village achieves comparable measures to Beaver Creek for most metrics.
Town of Vail
The Town of Vail has enjoyed three consecutive years of price appreciation as measured by the average price per square foot. The average price per sale reduced slightly from $1.8 million to $1.725 million compared to the previous year for condos and held flat at $4.2 million for homes. By contrast, prices rose dramatically in the Town of Telluride on a cost per square foot basis for both condos and homes while average sales prices increased by 50% for condos but slid slightly for homes.