‘The great urban exodus:’ Colorado resort towns see flood of second-home buyers, burst in school enrollment
Urbanites fleeing cities for homes in the hills are pulling mountain resort real estate out of a pandemic slump.
Inventories are dwindling, prices are soaring and resort-town schools are seeing enrollment climb as second-home owners and newcomers settle in places like Steamboat Springs, Vail, Crested Butte, Telluride and Aspen.
“I think a lot of people already had it on their minds for some time and they are seeing how their kids are flourishing out here and they are maybe more aware of the challenges in the urban environment,” said Darin White Eydenberg, who is enrolling her three children in a private school near their Aspen vacation home as she and her husband avoid returning home to New York. “In many ways, this feels like a fantasy. We have always talked about working from home, but it has not been a reality like it is now.”
Aspen broker Tim Estin calls it “The Great Urban Exodus.”
“This event is a trigger for buying. People who have been on the fence are buying. People who have been spending time here for years are moving into bigger properties,” said Estin, noting that the high-end rental market also is exploding as visitors prolong their summer vacation into fall and winter.
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Several Carbondale businesses are scrambling to relocate and others are just plain calling it quits following plans for one of the town’s oldest strip malls to be redeveloped.