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High-End Buyers Flock to Ski Resort Towns

Housing Markets

High-End Buyers Flock to Ski Resort Towns

October 6, 2020
Resort town in Park City, Utah
Photo: Jason

The worry of possible limitations on skiing activities at resorts did not keep buyers away. In fact, one broker said this summer became the busiest selling season yet, according to Ski resorts have added amenities over the years to attract more than just the ski crowd, and it appears to be working so far—being in a location surrounded by nature helps too. The high end market in Park City, Utah experienced a 50% increase in sales of single-family homes priced at more than $2 million from March to August.

In Colorado, Telluride saw the dollar volume of home sales increase 54% through the month of August compared with a year earlier, with $125 million in sales in August alone—a one-month record, according to George Harvey , broker and owner with The Harvey Team. Aspen recorded 65 single-family home sales through August this year, up from 50 for the same period in 2019, while the dollar value of the sales were up by 49%, according to Sotheby’s International Realty. Since March 1, 46 houses over $10 million have sold and 24 are under contract.

“I’ve never seen anything like it. The high end is flying off the shelf,” says David Viehman, a broker with Engel & Völkers in Jackson Hole, where the total number of sales over $3 million is up 55% over a year earlier and there have been 21 sales over $10 million compared with five sales in that bracket in 2019, a 320% increase.

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