Downhill deals: U.S. ski towns saw dip in sales this year

Transactions decreased 2.1%

National /
Dec.December 28, 2018 02:00 PM

(Credit: iStock)

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


Related Articles

arrow_forward_ios
Basketball star Ben Simmons with the Moorestown property (Compass, Getty)
Philadelphia 76ers’ fallen star Ben Simmons lists NJ mansion for $5M
Philadelphia 76ers’ fallen star Ben Simmons lists NJ mansion for $5M
From left: SERHANT CEO Ryan Serhant, 77 Greenwich Street, Trinity Place Holdings CEO Matthew Messinger and Macquarie Capital's Jackie Hamilton (77 Greenwich Street via Binyan Studios)
Trinity Place Holdings beats deadline with $168M refi at FiDi condo
Trinity Place Holdings beats deadline with $168M refi at FiDi condo
Manhattan luxury market logs biggest week since 2013
Manhattan luxury market logs biggest week since 2013
Manhattan luxury market logs biggest week since 2013
From left: Francisco Llado, Gil Dezer, Amir Korangy, Paulo Bacchi, Edgardo Defortuna, Jay Parker, Daniel de la Vega (Artefacto, Getty)
Is Miami’s residential architecture overplayed? No way!: TRD panel at Artefacto
Is Miami’s residential architecture overplayed? No way!: TRD panel at Artefacto
Single-family rentals are increasingly seen as a more realistic alternative to ownership, given the hot housing market and income inequality. (iStock)
Single-family rentals soaring in hot housing market
Single-family rentals soaring in hot housing market
(Getty)
Manhattan buyers shun fixer-uppers
Manhattan buyers shun fixer-uppers
Sheldon Solow and the Hamptons estate (Getty, Douglas Elliman)
Sheldon Solow’s Hamptons home gets $10M price cut
Sheldon Solow’s Hamptons home gets $10M price cut
Investors home purchases rose to 15 percent in the second quarter, a year-over-year increase of 3.9 percentage points. (iStock)
Investors take bigger bite of US housing, and pay less
Investors take bigger bite of US housing, and pay less
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...