Spring 2017 Newsletter
A Year in Aspen
What a difference a year makes in Aspen real estate! In the first quarter of 2017 we have seen two homes over $10 Million sold, including a $24.4 Million estate on McLain Flats…plus there are thirteen, $10 Million plus properties Under Contract, totaling almost $400 Million in Aspen….with another $35 Million in Snowmass Village. In single family homes we are up almost 88% in dollar volume for the first three months of 2017, and in terms of transactions we are up 67%.
Condominiums in Aspen have seen a 30% increase in dollar volume, with an almost 7% increase in transactions.
That bodes well for another barometer of our market, the Price/Square foot indicator: We are at an all-time high, average of $1,554 /SF for single family homes.
Rising Lot Values
I honestly think that we are going to climb higher in many of these categories. Most buyers are looking for updated homes or condominiums…..whereas most homes and many condominiums on the market are 15-25-35 years old. I just placed under contract a 70’s home in Meadowood on a large lot that has the potential for a much larger home. It was bought at a premium price, and will be torn down in the next year, to be replaced by a new contemporary home. Meadowood could see a big uptick in their values because of it!
In High Demand
The concentrated demand we saw in the last four years for the core of Aspen, Red Mountain and in the West End has begun to spread to the outlying properties. Homes in McLain Flats, Highlands, Five Trees, Maroon Creek Club and other outlying areas just 5-10 minutes to town will see their best homes sold in the ensuing year. I currently have such a property atop the Five Trees subdivision, on Falcon Road, listed for $17.9 Million. It is ski-in/ski-out on a fun adventure trail from Aspen Highlands, and has the views and extreme privacy that many are looking for. The home theatre may be the best in Aspen!
Please, take a look at this short video:
Get Away From It All
If you or your friends want something a little more removed from the busy core of town, and you’d really like the privacy of 500+ acres, private lake, 10 minute access to the Snowmass Ski Area, you may want to look no farther than a special estate located in Wildcat Ranch, listed by one of my associates, Penny Evans Carruth. I understand that the Seller is very motivated, so someone will get this property, currently at $19.5 Million, for a terrific price!! See it here:
Whatever your wish, I am here to help you....... either to find that special home or condominium, or to sell that prized property you’ve enjoyed for a long time. Even though I speak of homes over $10 Million, there are actually 138 homes listed from $4 -10 Million, so there is a wide range of choices available. Condominiums are an even greater opportunity, with over 258 units available from $500,000 - $10 Million.
Please call me, anytime, to explore the possibilities.