Third Quarter Aspen Real Estate Market

Happy Thanksgiving and greetings from Aspen where we need some snow!
Aspen real estate sales have shown a nice pick-up in momentum in the last few months, although it is unlikely we will reach last year’s $2 billion in total dollar volume. Last year was a strong showing, the likes of which we have not seen since pre-recession. Compared to the prior four years, however, we are tracking about even on a year to date basis. Through September, we have sold $920,715,425 and we have had several strong closings in October and the beginning of November, particularly in the higher end of the market (a sector that was softer in the beginning of 2016). A vacant lot on Red Mountain just sold for $18.5 million and a house on Red Mountain just sold for $24 million, or $2750 per square foot. The West End has exhibited strength all year, with several closings just under or over $2000 per square foot. Click the link below for more detailed information.

 

Aspen housing prices were weaker than a year ago as the market shifted to smaller sized sales. Housing price trends for Snowmass Village were mixed but sales were higher and there was less inventory.

 

 

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