The trend of diminishing inventory of our Aspen / Snowmass market continued in December with overall inventory for the Aspen / Glenwood MLS dropping to its lowest point since May, 2008 (the fifth consecutive decline).
Sales continue to be slow with 80 recorded, the same as the previous December. Despite the reduction in inventory, this low number of sales led the supply to increase to 50 months.
With decreasing inventory, buyers may see increased competition for the choice properties. For sellers, while these numbers hold some promise, the reality for the time being is that they are going to have to compete with Bank owned properties and short sales - no easy task.
(The data referenced in this article is taken from the Aspen / Glenwood Springs MLS which includes properties from Aspen and Snowmass all the way to Western Garfield County.)
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