Even home sales in ski towns are on a downward slope.
Ski areas across the country have seen a 2.1 percent decrease in real estate transactions compared to last year, Mansion Global reported.
According to data from Realtor.com on 35 different U.S. towns, transactions from January to September 2018 in some of the most popular ski areas, like Aspen, have fallen year-over-year by as much as 27.6 percent. Amy Doherty, a Douglas Elliman broker based in Aspen, said this decrease is mostly due to the lack of inventory in the $3 million to $6 million range.
Overall, though, these markets are mirroring existing home sales throughout the country. In the first nine months of this year, the number of existing home sales dropped 1.9 percent.
“Since 2014, home sales in ski towns have loosely followed the same trajectory as the overall market,” Javier Vivas, director of economic research at Realtor.com, told Mansion Global.
Still, in previous years ski towns have fared better than the overall market. In 2017, transactions increased by 5 percent year-over-year in ski areas, whereas the U.S. average increase was 3.1 percent. [WSJ] — Kathryn Brenzel