Today, I want to share some thoughts on a recent Forbes article that caught my attention. It highlighted Carbondale as one of the top cities where home values have grown the most over the past 20 years, and Glenwood Springs made it into the top 20 nationwide. This is certainly noteworthy for anyone keeping an eye on the valley market and the growing demand from New Castle to Parachute. [Link to article]

The Good News: Carbondale’s Economic Strength Beyond Tourism

Carbondale and Glenwood Springs are often recognized for their outdoor appeal, including access to skiing, hiking, and fishing. But their economic strength runs much deeper. Both towns have seen growth in key industries such as healthcare, education, and small business development, making them attractive not only to tourists but to full-time residents and remote workers.

For example, Glenwood Springs' median home price has risen 16% year over year to $760,000 as of last month (Source: Colorado Association of Realtors), while Carbondale's median home price is now around $1.15 million (Source: Altos Research). These numbers reflect the appeal of these towns and their underlying economic health.

The Challenges: Home Price Increases vs. Local Income Levels

While rising home values are a boon for current homeowners, they also create challenges for full-time residents looking to buy. In many towns, like Carbondale, income levels haven’t kept pace with home price increases. Comparing Carbondale to other towns with similar home prices, like Steamboat Springs, the disparity becomes clearer. The median income in Steamboat Springs is $89,000, whereas Carbondale’s is closer to $73,000 (Source: U.S. Census Bureau). This growing gap is pushing buyers to more affordable towns in the valley.

As a result, the demand in Glenwood Springs, New Castle, and even Parachute has increased, with more buyers looking for homes that are more aligned with their income. In Glenwood Springs, we’ve already seen price increases of over 10% year-over-year (Source: Colorado Association of Realtors).

A Look at the Region: Comparing to Other Colorado Towns

Carbondale and Glenwood Springs are experiencing growth similar to other high-demand areas in Colorado, such as Boulder or Durango. However, towns like Boulder, with a median home price of $1.3 million (Source: Zillow), also have a significantly higher median household income—around $108,000 (Source: U.S. Census Bureau). This makes our valley unique: we are seeing similar home value growth, but without the same level of income to support it.

Future Projections: What’s Next for the Valley?

Looking ahead, the western valley towns from New Castle to Parachute are expected to see continued demand as Carbondale and Aspen become increasingly unaffordable for first-time buyers. There are also local projects underway that will likely drive further growth. For example, Glenwood Springs High School is currently expanding to accommodate the growing student population (Source: Glenwood Springs Post Independent), and proposed Highway 82 improvements could ease traffic congestion, making it easier for commuters to live further west while working in Carbondale or Aspen (Source: Colorado Department of Transportation).

Your Opportunity: Act Now, Don’t Wait

For those considering a move or an investment, the window of opportunity in Glenwood Springs, New Castle, and other towns in the western valley is narrowing as demand continues to push westward. Now is the time to explore these areas with an experienced local realtor who understands both the market dynamics and the unique challenges of our valley.

If you’re interested in learning more about homes available in these areas or have any questions about how rising home prices might impact you, I’m always happy to help.