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It's a Seller's Market in Mountain Towns

Market Data + Trends

It's a Seller's Market in Mountain Towns

November 9, 2020
Aspen, Colorado skyline
Photo: jdross75

Second-home markets in the United States and abroad have experienced booming sales while Americans continue to spend more time indoors, especially during the coming winter months. Markets such as the Hamptons and Long Island jumped this summer, and now it’s time for mountain towns to have their blockbuster selling season. One Aspen, Colo. real estate agent told that it’s a seller’s market and the showing have yet to stop. This is atypical, as buyers lose interest typically at the end of the fall season. 

Buyers are eager to close, extending stays and obliterating the ‘off-season’
Besides an eagerness to secure properties before any potential future shutdowns, part of what’s driving activity is a change in overall buyer habits, with many owners in resort markets now staying in properties for months at a time rather than weeks.

“There are some companies that have committed to remote work indefinitely,” Ms. Hale said. “Especially for areas that cater to [employees of] tech companies, those companies have become more permissive and granted longer-term flexibility. That enables people to make decisions like relocating to a ski town in Colorado.”

In some cases, this dovetails with the pre-existing trend of shorter off-seasons, as rising temperatures change the calculus in cold-weather markets.

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