While we have seen higher demand and an increased number of transactions over the last several years for the luxury properties of Aspen listed at $25 million dollars and above, the average sale is approximately $3,600 per square foot and closing at 90% sold price to list price.
January marked a milestone in my career when I was able to help my clients in the sale of their legacy estate, 861 Ute Avenue. Listed at $27,750,000, this five bedroom home is two blocks from the gondola and steps away from The Little Nell and some of Aspen’s finest dining and boutiques. The property perfectly blends elegance and convenience, featuring high ceilings, reclaimed barn wood floors, large stacked sliding doors, and elegant finishes.
With a smooth contract-to-close timeframe of just 28 days, negotiating 93% list price and just over $5,100 a square foot – I’m honored with the trust that my clients placed in us to get the job done.
If you are looking to sell or purchase your dream home, please get in touch with me at (970) 948-2337 or send me an email by clicking below.
Keeping a Pulse on the Market
1. Prices continued to rise in Snowmass Village and have more or less flattened out in Aspen.
2. The number of transactions for Aspen condos dropped in comparison to 2022, but there continues to be relatively low listing inventory.
Insider tip: Snowmass Village has benefitted from Base Village new condo sales and the under contract pipeline is very strong. The premium price per square foot for the new condos in Base Village are also driving the on-paper price per square foot gains for Snowmass Village condos.
3. The single family home segment in Aspen saw year-over-year similarities with regards to the number of sales and average price per square foot in Aspen.
4. Listing inventory is up about 25% in Aspen compared to last year and down in Snowmass Village.
Insider tip: even with rising inventory in Aspen, Aspen Snowmass inventory levels remain significantly below historic averages (and highs from the few years after the Great Recession).
5. Although the $20M+ single family home market has been impressive over the past few years, current available listings are outpacing absorption.
Insider tip: there are about 40 single family homes listed in Aspen above $20M. Last year there were about 20 sales above $20M…that implies a 2-year supply! Pre-pandemic, there was about a 7-8+ year supply at that price point.
Sotheby’s Maintains 2023 Market Leadership
#1 Local Real Estate Firm by Sales Dollar Volume and Number of Transactions
888 Transactions in 2023, More Than Any Other Local Real Estate Firm
2x The Market Share of the Next Real Estate Firm
