As the year draws to a close, December offers the perfect opportunity to embrace the transformative power of color. From seasonal hues inspired by nature to bold interior design choices, this is the month to celebrate the role color plays in our lives. Explore how vibrant tones can make your home feel welcoming, learn why rugs are becoming the centerpiece of modern decor, and meet an architect who’s redefining interiors with his bold and thoughtful use of color.
What Are the Benefits of Living in a Colorful Home?
Color isn’t just about aesthetics—it influences how we feel and experience our spaces. Whether you’re drawn to soothing neutrals or stimulating bursts of bold tones, a home that reflects your personal palette can evoke a sense of calm, inspiration, or energy. Investing in a property designed with intentional color choices can be the key to creating a space that feels uniquely yours.
Homes inspired by nature’s beauty don’t just look stunning; they also promote wellbeing. Imagine a space designed to mirror the serenity of a lush forest, where greens, browns, and subtle earthy tones blend harmoniously. Such homes offer the added benefit of showcasing seasonal changes, allowing you to witness nature’s evolving palette right from your doorstep. From golden autumn leaves to snow-dusted evergreens, nature’s colors enhance the connection between the indoors and outdoors.
Gone are the days when rugs were merely functional. Today, they’re bold, creative, and unapologetically colorful, acting as both decor and artwork. Whether it’s a handwoven geometric masterpiece or a playful splash of abstract color, a statement rug can anchor a room while adding personality and depth. Looking for a quick design refresh? Start from the ground up—literally.
Meet Michael K. Chen, the New York Architect with an Eye for Detail
New York-based architect Michael K. Chen is redefining interiors with his signature style: a blend of innovative craftsmanship, timeless elegance, and fearless pops of color. His firm, MKCA, is celebrated for creating spaces that feel both bold and livable. From vibrant accent walls to playful yet sophisticated furnishings, Chen proves that color is more than a design choice—it’s a statemen
Whether you’re revamping your home or simply looking for inspiration, embracing color this December can elevate your space and your mood. Ready to explore properties that reflect your style or connect with a design professional to bring your vision to life? Let’s talk.\
Inventory is gradually increasing, though it remains well below pre-COVID levels. This shift could provide more opportunities for buyers, yet sellers continue to demonstrate resilience in the market. Price per square foot has held steady at just over $3,000.
As we reflect on November’s market performance, Aspen’s real estate continues to demonstrate resilience and exclusivity. Even as inventory gradually increases, it remains well below pre-COVID levels. This shift could provide more opportunities for buyers, yet sellers continue to hold firm on pricing, showcasing the unique stability of this high-demand market.
The median sales price year-to-date stands at $5,175,000, reflecting only a slight decrease of 1.4% compared to 2023. This small dip hasn’t affected the premium price per square foot, which holds steady at just over $3,000—a testament to the enduring desirability of Aspen real estate. While the median days on market rose to 134, up 39.6% year-over-year, this can largely be attributed to the seasonal ebb and flow of transactions in the Roaring Fork Valley.
One of the most noteworthy transactions of 2024 has to be the remarkable flip of 210 S West End Street. Originally purchased on April 25 for $48,750,000, this property was resold just seven months later for an impressive $55,000,000. Spearheaded by Patrick Dovigi, a former professional hockey player turned Aspen real estate mogul, this deal highlights the unparalleled investment potential Aspen properties continue to offer.
As we head into the winter season, new listings are on the rise, up 3.4% compared to last year, offering fresh opportunities for those seeking to join or expand their presence in the Aspen real estate market. Sellers, however, continue to hold strong, with properties receiving an average of 93.7% of their asking price, underscoring the competitive nature of this market.
Whether you’re considering buying, selling, or investing, the Aspen real estate market remains one of the most dynamic and rewarding in the country. If you’d like to discuss how these trends might affect your real estate goals or explore opportunities in the Roaring Fork Valley, I’m here to help.
Let’s connect—reach out today and let’s make your Aspen real estate vision a reality!
Amazing Snow To Start the Season in Aspen Snowmass
In the 35 years I have lived in the Aspen Valley, only the winter of 1992 had a better start than this one. Aspen Mountain opened a week early with top-to-bottom skiing. We were then blanketed with over 40 inches of snow, followed by a 10-day stretch of warm and sunny weather.
On Monday, the temperatures plummeted to single digits, and the snow started to fly, leaving 12 inches of very low moisture content powder on the hill. With conditions like this, you can not afford to miss out on a Christmas or winter vacation in the Aspen area.
Escape to Aspen Luxury With These Winter Vacation Rentals
Finding the perfect place to stay is essential for a memorable winter vacation, and I’m here to make the process effortless. With over 20 exclusive rental listings and access to hundreds more, I can help you find the ideal accommodations to suit your needs, whether you’re looking for:
Chic ski-in/ski-out condos steps from the lifts
Spacious family homes with fireplaces and hot tubs
Private mountain retreats with stunning views and modern amenities
Imagine waking up to panoramic mountain vistas, sipping your morning coffee by the fireplace, and heading out for a day of fresh powder—all from the comfort of your home away from home.
New Summer Fractional Available at The Aspen Mountain Residence
415 E Dean Street, 45 A and B, Aspen, Colorado, 81611
3 Beds | 4 Baths | 2,557 sq. ft | $280,000
Discover the pinnacle of luxury living at Aspen Mountain Residence, ideally located at the base of Aspen Mountain and within walking distance of everything this world-renowned destination has to offer. Units 45 A and B stand out as the finest in the residence, offering an extraordinary ownership opportunity for the July 4th week.
This unit underwent a full refresh in 2024, featuring brand-new furniture, lighting, paint, carpets, and décor, creating a fresh and sophisticated ambiance. The expansive 2,557-square-foot layout includes three bedrooms, three and a half bathrooms, and multiple outdoor spaces designed to take full advantage of Aspen’s breathtaking surroundings. Two rooftop decks with hot tubs provide unparalleled views of Aspen Mountain and downtown, while two additional decks offer additional spaces to relax or entertain.
This offering includes ownership of highly sought-after Week 26, which typically coincides with the vibrant July 4th celebrations. Over the next eight years, only 2028 does not include the holiday, making this a truly exceptional opportunity to enjoy the best of Aspen during one of the most iconic times of the year.
As Aspen’s first snowfall blankets the town, there’s an undeniable excitement in the air. The crisp winter atmosphere signals the start of a magical season in the mountains, where fresh powder on the slopes and festive lights in town create the perfect backdrop for a memorable getaway. Whether you’re planning a winter retreat, looking for a luxury rental, or searching for your dream home, our exclusive listings and local insights offer everything you need to embrace Aspen’s winter wonderland.
First In Town Snow Of The Season
After some unseasonably warm weather, Aspen enjoyed its first in-town snowfall last week, with 2-4 inches blanketing the town and 6-8 inches accumulating higher up. Winter is fast approaching, and there’s still time to secure a winter rental. In-town rentals are filling up quickly with the fresh snowfall, so feel free to reach out with any questions!
Property of the Month
A Rare Opportunity in the Prestigious Cerise Ranch
Welcome to 564 Larkspur Drive, a remarkable luxury estate located in the coveted Cerise Ranch community of Carbondale, Colorado. This 4.26-acre property has undergone a full interior renovation, transforming it into one of the finest turn-key residences available in the mid-valley. Offered at $5,850,000, this 8,621-square-foot home represents exceptional value, offering a luxury home at a price point well below what it would cost to recreate today.
Impeccably Designed for Luxury Living
Originally built in 2007, 564 Larkspur Drive has been meticulously updated throughout, providing modern amenities while retaining its timeless charm. Every room in the house has been enhanced to reflect the highest standard of luxury living.
Laurie Laing, the listing broker, describes the home as a “legacy property where luxury meets comfort and elegance.”
With professional interior design selections and a seamless blend of indoor and outdoor living, this property is ready to be enjoyed year round. From the moment you walk through the door, the floor-to-ceiling windows draw your eye to the stunning, meticulously manicured perennial gardens that sit against the backdrop of the surrounding mountainside. The thoughtful updates and attention to detail are present throughout the home.
Recent Renovations and Upgrades
The transformation of 564 Larkspur Drive is both extensive and detailed. Some of the standout updates include:
A full kitchen renovation, with updated countertops, fixtures, and lighting.
Stained beams throughout the home, perfectly matching the woodwork for a cohesive aesthetic.
Upgraded lighting to energy-efficient LED throughout, along with modernized ceiling fans and electrical receptacles.
A complete renovation of the primary bathroom, featuring twin sinks, a soaking tub, a steam shower, and new flooring.
New carpets in high-end, neutral tones, adding comfort and elegance to every room.
Renovated fireplaces with updated stonework, and upgraded bar areas with new countertops and plumbing fixtures.
A full renovation of the upstairs bathroom and a modernized laundry room and mudroom entrance.
Your next chapter can begin here, click the link below to read the full blog.
Experience the Ultimate Winter Wonderland in My Luxury Rentals
I currently have 14 rentals available in town, as well as a few larger properties just outside the City of Aspen. Among them is 821 Cluny Road, a spacious 7,351 square-foot home with 5 bedrooms and 7 bathrooms, nestled on over 4 acres along Owl Creek. This property offers uninterrupted views of the Roaring Fork Valley, creating an ideal retreat for a peaceful getaway. It is listed at $80,000 a month for 3 months of longer.
Here’s a Fantastic Guide For Anyone Visiting Aspen!
Whether you’re a seasoned Aspen traveler or visiting for the first time, check out this comprehensive Aspen travel guide from Goop–it covers everything our town has to offer.
Winter in Aspen offers an unmatched blend of adventure, beauty, and relaxation. From cozy in-town rentals to luxurious estates nestled in nature, there’s a perfect spot waiting for you. Don’t miss the chance to experience Aspen at its finest this season—reach out today to reserve your winter rental, schedule a property viewing, or simply learn more about all that Aspen has to offer. Let’s make this winter one to remember!
Summer is in full swing, and Aspen is bustling with activity. The Aspen 2024 Q2 Market Update has observed a significant uptick, with over 215 new listings. This marks a substantial increase from two years ago when inventory was at a low of 110 listings. While this increase in inventory is promising for buyers, it’s important to note that we are still below our historical average of 300-400 listings. Additionally, we are significantly lower than the 500-plus listings seen during the Great Recession. This limited supply continues to create a competitive environment for buyers, driving up prices.
Inventory and Pricing Trends
The market is witnessing a trend of aggressive pricing, with the average price per square foot exceeding $3,000. Many listings are even priced over $5,000 per square foot, highlighting the high demand and premium nature of Aspen properties. Notably, the E Cooper Penthouse stands out, listed at a staggering $13,200 per square foot. This raises the question of whether these sellers are serious or merely testing the market.
Buyer Negotiation Power
Despite the high listing prices, there is a noticeable shift in negotiating power towards buyers. Sales are closing at approximately 10% below the original list price and around 5% below the asking price once the property goes under contract. This trend suggests that initial listing prices may be inflated, requiring adjustments to attract offers. Buyers are becoming more discerning and willing to negotiate to ensure they are getting value for their investment.
What This Means for Buyers and Sellers
For buyers, this market presents an opportunity to find desirable properties with more negotiating leverage than in recent years. The increase in inventory, though still below historical averages, means more options to choose from. However, buyers should be prepared for competitive bidding, especially on prime properties. For sellers, the key takeaway is the importance of pricing strategy. While it may be tempting to list properties at high prices, realistic pricing will attract more serious offers and potentially lead to quicker sales. Understanding the current market dynamics and being willing to negotiate can make a significant difference in closing a deal.
Looking Ahead
As we move through the summer, it will be interesting to see how these trends develop. Will inventory continue to rise, providing more opportunities for buyers? Will sellers adjust their pricing strategies to align more closely with market realities? Stay tuned for our next market report as we continue to monitor these developments. In the meantime, enjoy the vibrant summer activities Aspen has to offer, from scenic hikes and bike rides to shopping and fine dining. If you’re considering buying or selling in this dynamic market, don’t hesitate to reach out for personalized advice and guidance.
Detailed Market Insights
Aspen: The Aspen market report for the second quarter of 2024 shows a strong performance in the single-family home segment, with the average sold price increasing by 34% to $22,177,879. The average sold price per square foot remained relatively stable, with only a 1% decrease. The total dollar volume sold rose by 19%, despite an 11% decrease in the number of properties sold. For condominiums, townhomes, and duplexes, the market saw a 6% decrease in the average sold price, with an 8% increase in the average sold price per square foot. The active inventory in Aspen increased by 22%, indicating a more favorable market for buyers.
Snowmass Village: Snowmass Village experienced a strong performance in the single-family home market for the second quarter of 2024, with the average sold price increasing by 23% to $9,061,583. The average sold price per square foot rose by 10%, and the total dollar volume sold increased by 85%. For condominiums, townhomes, and duplexes, the average sold price saw a 17% increase, with a significant 14% rise in the average sold price per square foot. The active inventory in Snowmass Village decreased by 9%, reflecting a tight market for buyers.
Basalt: The Basalt market report for the second quarter of 2024 reveals significant growth in the single-family home segment, with the average sold price increasing by 50% to $3,655,382. The average sold price per square foot also rose by 50%, highlighting a strong market performance. Despite this, the number of properties sold decreased by 35%. For condominiums, townhomes, and duplexes, the average sold price remained relatively stable, with a slight decrease of 1%. The active inventory in Basalt increased by 24%, indicating a more favorable market for buyers.
Carbondale: In Carbondale, the real estate market for the second quarter of 2024 displays mixed results. Single-family homes saw a 6% increase in the average sold price, but the number of properties sold decreased by 13%, leading to a 7% decline in the total dollar volume sold. Condominiums, townhomes, and duplexes experienced a modest 1% rise in the average sold price per square foot, with a significant 36% increase in the average days on the market. The active inventory in Carbondale rose by 7%, reflecting a slight improvement in the market’s availability.
Glenwood Springs: The Glenwood Springs market report for the second quarter of 2024 shows a notable increase in the average sold price for single-family homes, rising by 8% to $1,046,957. However, the number of properties sold decreased by 18%, and the total dollar volume sold dropped by 12%. For condominiums, townhomes, and duplexes, the market remained relatively stable, with only a slight increase in the average sold price and a significant 35% increase in the total dollar volume sold. The active inventory in Glenwood Springs has increased by 10%, indicating a more competitive market for buyers.
If you have any questions or need further information, please don’t hesitate to reach out. I’m here to help you navigate the Aspen real estate market with personalized advice and guidance. For more insights, visit our Market Insights webpage.
The recent $418 million settlement between the DOJ and NAR (National Association of Realtors) is creating a media frenzy and has potentially significant implications for buyers and sellers in the real estate market. There are two key takeaways from this settlement to be aware of:
Requirement for Representation Agreement: Before touring a property, it is now mandatory to have a written agreement in place with the specific broker. This agreement must clearly outline how you are being represented and detail the terms of compensation. This requirement aims to ensure clarity and transparency in the relationship between clients and their chosen real estate professionals.
Changes in Commission Advertising: Effective immediately, the NAR has agreed to create a new MLS rule prohibiting offers of compensation on the MLS. While this is a shift in industry practice, compensation can continue to be negotiated off-MLS between sellers and real estate professionals.
What does a seller do? Do you offer a buyer’s commission? Or do you leave it up to the buyer to pay the broker? Jordan M Marry, the John B Millien Professor of Law and Taxation at the University of Southern California, conducted a fascinating study showing a seller’s advantage in offering a buyer’s side commission. Click here for the study.
If you have any questions or concerns about the NAR settlement or how it may impact your real estate transactions, please do not hesitate to contact me. I am here to provide you with the guidance and support to navigate these changes successfully.
2 Records Sales Set in 5 Days
The largest real estate transaction in Colorado history closed April 15th when Steve Wynn and Thomas Peterffy paid $108 million for a 22,405 square foot home located on 4.5 acres at 419 Willoughby Way. This 11 bedroom 17 bathroom traded for just over $4,800 a square foot. The house traded for $72.5 million back on June 15th, 2021.
Just five days earlier, the previous record was set when 600 Owl Creek Ranch Road closed for $77 million, at $6,084 a square foot. That property boasted a 12,655-square-foot, 8-bedroom, 11-bath home set on just over 60 acres.
Needless to say, we are still seeing a lot of activity in the Roaring Fork Valley.
Aspen Snowmass Market Watch
The number of condo & townhome sales are up significantly in Aspen & Snowmass Village, while single family home sales keep their same pace year over year
Eleven of the sixteen Aspen single family home sales have occurred above $10M this year
Nearly 40% of the Aspen condo sales year to date have occurred above $3,500 per square foot
Average price per square foot for closings in Aspen generally appears to be rising after a relatively consistent 2023
Snowmass Village condo prices have continued to push upward
About 40% of the Snowmass Village condo sales have occurred above $1,750 per square foot
Buyers are continuing to drive strong activity in the Aspen Snowmass market as relatively limited available listings and rising prices continue to persist
A Tribute to our History as a Ski Capital of the World
Each April, we celebrate the close of the ski season at our five beloved mountains – Ajax, Aspen Highlands, Buttermilk, Snowmass and Sunlight. These mountains each contribute to the rich culture and tightly bonded ski communities within the Roaring Fork Valley. Over the years, they have each become famous in their own right, drawing an international crowd of visitors who assure each ski season ends with a bang. These visitors celebrate not only the efforts of mountain staff and ski patrol members over the past season but also their respect for the mountains themselves. Over the course of many decades, these local mountains have taken shape with diehard fan bases, tried-and-true dining options, and intriguing traditions to match.
Discover luxury living at 65 Harleston Green, Unit 51, a stunning two-level townhome boasting 2,375 square feet of refined comfort. This meticulously crafted residence offers three bedrooms, three bathrooms, and a one-car garage, presenting an ideal blend of space, style, and functionality.
Step inside to find a sanctuary of modern elegance. The primary bedroom exudes relaxation with its plush king-size bed, while the second bedroom features a queen bed topped with a twin, perfect for versatile sleeping arrangements. Additionally, a third room serves as a flexible space, functioning seamlessly as a third bedroom or a home office, complete with a convenient queen murphy bed.
Entertain in style in the spacious living area, adorned with 20-foot ceilings and floor-to-ceiling windows that flood the space with natural light and showcase breathtaking views of Snowmass. The chef’s kitchen is a culinary haven, appointed with top-of-the-line Wolf and Fisher Paykel appliances, inviting you to unleash your culinary creativity.
Indulge in outdoor living on the expansive south-facing deck, where you can bask in the sunshine and cook on the gas grill while savoring panoramic vistas of the surrounding landscape. Whether you’re hosting gatherings or enjoying quiet moments of reflection, this outdoor oasis provides the perfect backdrop for every occasion.
This remarkable residence has been completely remodeled and finished to the highest standards, ensuring a luxurious living experience at every turn. With its modern amenities, refined finishes, and prime location, 65 Harleston Green, offers an unparalleled opportunity to experience the ultimate inSnowmass living. Don’t miss your chance to make this exceptional property your new home. Schedule a viewing today and elevate your lifestyle to new heights.
The Aspen World Cup promises an exhilarating talent showcase and competition from March 1-3. Switzerland’s Marco Odermatt has extended his dominance, winning all six GS races this year and nine in a row, including last year’s wins. He is only the second man to win more than five World Cup Giant Slaloms in a row, behind Ingemar Stenmark’s run of 14.
Keep an eye on the US Ski Team’s River Radamus, who’s shown excellent results this winter with a 4th place finish in Adelboden and his first World Cup podium at Pallisades Tahoe on February 24. Other US Skiers to watch are Tommy Ford, Brian Mclaughlin, George Steffy, and Aspen’s own Bridger Gile.
For Sunday’s Slalom, American AJ Ginnis, representing Greece, is my favorite. Last year he was disqualified for straddling a gate after appearing to win his first World Cup at Palisades Tahoe. He will be looking for redemption in Aspen. I would also keep an eye on Jett Seymour and Luke Winters, who can hopefully make the flip and score much-needed World Cup points.
The challenging race at Aspen, boasting the highest GS start on the World Cup at 9,550 feet, promises thrilling moments. It’s not too late to secure lodging for this prestigious event, reach out directly to me if you want to explore options and get ready for an unforgettable event.
The Aspen market continues to thrive with remarkable resilience. Over the last three years, we’ve witnessed an impressive average annual price appreciation of 16.3%, while Snowmass has shown an even more remarkable surge at 23.5%. These figures reflect the sustained demand and desirability of properties in our beautiful region.
Indicators across the board highlight a robust and active market. We’re observing strategic price adjustments, with properties selling at listed discounts approaching 10%. The market’s strength is underscored by an average price per square foot holding firm at approximately $3,100.
Notably, the percentage of properties under contract has seen a significant shift, currently resting at around 13%, in line with pre-pandemic levels, compared to a high of 33% in 2021. This implies a dynamic market where people are actively exploring options while properties are still going under contract.
Prices continue to rise, and rumor has it that a home on Willoughby Way is under contract with a premier Las Vegas hotelier for $120 million. This will be the first transaction over $100 million in the Aspen Area.
As we navigate this dynamic landscape, feel free to reach out for any specific insights or assistance you might need. Wishing you continued success in your real estate endeavors.
In the early months of 2024, take stock of the most recent fine dining additions in our Roaring Fork Valley communities. From Aspen to Glenwood Springs, small business owners in each neighborhood are hard at work, bringing you the best this valley has to offer in the culinary space. These restaurants bring a fresh perspective to dining, whether it’s for a special occasion or a casual meal with friends.
MOLLIE is a “boutique hotel inspired by the layered spirit of Aspen and the many individuals who shaped its vibrant history. A place that honors the outdoors and encourages adventure while providing a luxurious experience to its guests, the MOLLIE team believes in the beauty and freedom of simplicity and subtlety” (mollieaspen.com). Offering options as approachable as a beer and onion dip, and as adventurous as the Haiku Highball cocktail and crispy lion’s mane mushrooms, this versatile venue satisfies every palette.
One cog in the well-oiled machine of Aspen’s new hotel/restaurant combo dubbed Gravity Haus, The Boat Tow presents a fresh take on classic nightlife. The unique moniker arose from Aspen’s history, as some of the earliest skiers were carried on a boat towed up Ajax by a cable. The Boat Tow is a new culinary concept playing tribute to the history of Aspen ski culture. It’s a place where community comes together over a shared passion for the mountains, outdoor adventure, and new experiences. Stop by the location on Hyman Avenue for a single spritz or several, however your night’s itinerary indicates.
Ramen lovers, indulge! Aspen’s newest Japanese joint located just beyond Restaurant Row on Hyman Avenue offers an intentional, concisely curated menu of culinary favorites. Locally-beloved restauranteur Jimmy Yeager, of his renowned eponymous Jimmy’s restaurant, established this spot with hopes of fulfulling the unsaturated ramen market in Aspen. From tonkatsu to mountain miso to vegan vegetable, these broth-based bowls will leave you speechless and looking forward to your next visit.
BUCK(508 E. Cooper Avenue, Aspen, CO)
Located downstairs on East Cooper St., BUCK is anticipated to open in December 2023 as a local bar and eatery with affordably priced food and beers. With memorabilia from The Red Onion and former employees at the helm, BUCK seeks to continue the legacy of “The Onion” as the local’s après-ski spot of choice. (508 E. Cooper Ave.)
An American bistro with a cozy neighborhood atmosphere recently moved into downtown Carbondale. Owned and operated by Leslie Lamont and her fiancé, Charles Ford, this small-scale restaurant (aptly named Tiny Pine) specializes in dine-in and to-go options, offering a robust menu, to-go burgers and fries, and a Tuesday night special of steak frites. Located in the heart of downtown Carbondale, this restaurant is hard to miss. Enjoy delicious Asian-fusion dishes like tempura shrimp and blistered shishito peppers, or opt for classic American options like the meatballs alla vodka and the fried chicken sandwich.
This Chateau Blanc two bedroom two bathroom was remodeled in 2019 with full air conditioning/mini splits added in 2024. Enjoy this quiet location just two blocks to the center of town and four blocks to the Silver Queen Gondola. Natural light adorns the bedrooms and living area and you can entertain four to six people in the large living room and open kitchen. That same area allows you to relax after a long day in the outdoors. A wood burning fireplace, east facing deck, stackable washer and dryer as well as off street parking round out the amenities this two bed two bath has to offer.
Recently remodeled, this contemporary Chateau Chaumont 2-bed/2-bath condo features an A+ location – just one block to the gondola and a stone’s throw to the restaurants, bars, and happenings of downtown Aspen. The wood-burning fireplace, modern mountain aesthetic, hardwood floors, open-concept design, and premium bedding combine to make this the perfect retreat for your next visit. Aspiring chefs will love the Wolf and Sub-Zero appliances and the recently renovated common courtyard hot tub is the place to après after a day of adventuring. Renters have access to common underground garage and additional spots in the alley of the W Hotel, which is right next door.
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.
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.
As we approach the end of this incredible year, I couldn’t be more grateful for the ongoing relationships with my clients. It has been an honor representing 22 rental properties and working with dozens of clients, finding them properties to rent in the Roaring Fork Valley. It’s been a year of milestones for my real estate business, and I’m thrilled to share some exciting updates.
This year’s standout listing is at 861 Ute Ave, a legacy 5 bedroom 5 and a half bathroom home located steps away from Aspen Mountain. After a meticulous process of over 30 showings and 18 open houses, I am delighted to share the property is now under contract. The collaborative efforts and enthusiasm from sellers and prospective buyers made this achievement possible, exemplifying my dedication to each listing.
With over 100 rental transactions completed in 2023, amounting to nearly $3.65 million in sales, 2023 was my most successful year-to-date. These ranged from smaller agreements starting at $7,500 to larger transactions reaching $565,000. Each deal represents a unique journey, and I am thankful for the trust placed in me to represent both landlords and tenants.
Looking ahead, I am excited about the prospects of a robust finish to 2023 and an even more promising start to 2024. Your support and partnership have been instrumental in making this year a success, and I look forward to continuing our journey together in the coming year.
Wishing you a joyful holiday season and a prosperous New Year!
Year End Observations
As we bid farewell to 2023, we must reflect on the trends and shifts that define our real estate market. Here’s a comprehensive recap of the year, highlighting key statistics and insights:
Median Sale Price: 2022: $6.1 million 2023: $5.25 million
While we observed a decrease in the median sale price from the previous year, I feel this shows the consistency of the pricing in our market.
Closed Sales: 2022: 182 2023: 167 (8.2% decrease)
The market experienced a slight decline in closed sales, reflecting a little bit of uncertainty from buyers.
Median Days On Market: 2022: 74 days 2023: 109 days (48.3% increase)
A notable change was observed in the median days on market, indicating a shift in the pace of real estate transactions. Sellers are still looking for COVID pricing, and buyers are searching for pre-COVID discounts.
Asking Price To Sold Price Discount: 2022: 96.6 2023: 94.1 (2.7% decrease)
A 2.7% decrease in asking price to sold price discount shows that sellers are still not flexible on their asking price. I believe this stat, combined with the increased days on the market and a decrease in closed sales, shows that buyers are sticking to their desired pricing and waiting for the right number.
Sold Price Per Square Foot: 2022: $2,867 2023: $2,866
Despite other fluctuations, the sold price per square foot remained consistent, underlining the resilience of certain market aspects.
The rise in inventory tells the story of decreased demand in our market.
As we navigate these changes together, I remain committed to providing you with expert guidance and unwavering support. The real estate landscape is ever-evolving, and purchasing in Aspen and holding for the long term is still a great investment strategy. As the saying goes, they are not making more of Aspen.
Looking forward to a prosperous 2024!
Aspen’s A+ Aprés Lineup
No matter the season, visitors frequent the Roaring Fork Valley for the views, the weather, and the glorious nature. But what keeps the mountain town more enticing with each passing year and encourages year-long visitor traffic is also the culture, culinary opportunity, and luxury shopping. The region has become a favorite stop among sophisticated American vacationers and international jet-setters alike. While the iconic allure is the legendary ski runs hosted by the surrounding Rocky Mountains, Aspen has become far more than merely a place to shred powder.
An exceptional art collection may be eclectic, but it’s never disorderly; every piece is chosen because it holds personal significance, or dialogues compellingly with a certain space or place. That’s why if you have a private art collection—or aspire to amass one—knowing how to curate it in your home is so essential.
We are proud to introduce the second edition of the Aspen Snowmass Sotheby’s International Realty magazine, Elevated Living. In this issue, we pull back the curtain on local real estate and all the communities we serve, and share crave-worthy content including:
Get Your Ski On: A Guide To Our Resort Mountains
10 Exceptional Winter Festivities You Don’t Want to Miss
Buying Smart: Considerations for Purchasing a Colorado Home
Renovating and Remodeling in The Roaring Fork Valley and Beyond
From Dream to Dream House: Building Your Own Home
Choosing Artwork for Your Home
Pick up a copy at any of our offices throughout The Roaring Fork Valley or click to check out the digital version below.
Looking for a late afternoon, early evening activity following your epic aprés? Every week from Tuesday through Friday, we host an open house tour in a different area from 3 – 5 pm, showcasing our exclusive listings. Click the button below to learn more about the schedule for this winter season.
It’s not too late to book a holiday visit to Aspen. 124 E Durant Ave., No. 1 is the perfect blend of timeless charm and mountain modern, just steps away from the gondola, renowned dining spots, and scenic parks. This East Durant Townhouse features spectacular Aspen Mountain views from the south facing deck and a cozy wood-burning fireplace. Three bedrooms and two full bathrooms, including a king-bed primary suite with a private bathroom and guest bedroom with built-in bunk beds, provide flexible sleeping arrangements for everyone in the group. Make your next visit to Aspen worry free with an updated gourmet kitchen, ground-level walk-out patio, and a dedicated parking space providing ease and comfort for any length of stay. STR# 089082
Four Bucket List Items For Your Next Trip to Aspen
Winter is here and Aspen Mountain opens Thursday, November 23rd.
Aspen is a destination of superlatives; these four bucket list experiences promise to take your next visit to new heights. Each activity offers a unique blend of excitement, breathtaking scenery, and the joy of exploring the snowy wonderland that makes Aspen truly magical.
Aspen Heli Skiing: Soar to New Heights
Imagine the thrill of heli-skiing in the San Juan Range, accessing over 26,000 acres of pristine terrain. Gather four friends, hop on an A-Star B3 helicopter from the Aspen Airport, and head to Silverton with Aspen Heliskiing. You leave at 7:00am and will be back by 4:30 pm. The cost, starting at $18,000, covers the exhilarating flight from the Aspen Airport to the terrain in the San Juan Mountains and an unlimited amount of drops. It’s an investment in an unforgettable journey.
Aspen Mountain Backcountry Cat Tours:Unleash the Powder
For an unparalleled backcountry skiing experience, consider the Aspen Mountain Backcountry Cat Tours. These cats, accommodating 10-12 people, promise around 10,000 vertical feet of skiing, with smaller groups doubling the excitement. Priced at $750 per day or $7,000 for a full cat, securing your spot early is wise as these tours fill up fast.
T Lazy Seven Snowmobile Tours: Discover Winter Wonders
Explore Aspen’s winter wonders with T Lazy 7 Snowmobile Tours. Journey to iconic locations like The Maroon Bells, Klondike Cabin for lunch, and Independence Pass. Tours start at $275, offering a thrilling, scenic snowmobile adventure through the heart of the Rockies.
Paragliding off Walshes and Ruthies: Soar with the Eagles
For a unique perspective of Aspen’s breathtaking landscapes, try paragliding off Walshes in the morning or Ruthies in the afternoon with Aspen Paragliding. Priced at $400, this adventure provides spectacular views, stretching from Independence Pass to Mt Sopris. It’s a thrilling and serene way to embrace the beauty of Aspen.
Market Update
As we conclude 2023, the real estate market in Aspen shows resilience, yet with some notable shifts. The median sale price has experienced a modest 3% decline, maintaining strength despite this adjustment. Closed sales have seen an 8.5% decrease, and the days on market have extended from 71 in 2022 to 102 in 2023. Despite these changes, the list to sold price ratio has narrowed by 3% to 94.2%. Notably, the price per square foot remains robust at $3,000. Listings have increased by 7.4% compared to the same period last year, reflecting a dynamic market with evolving trends. Please reach out if you have any specific goals or strategies in mind to navigate these shifts, I’m here to assist.
After a warm summer season, the highly anticipated ski season has nearly arrived! See below for the opening days for each of the four local mountains.
Aspen Mountain Open Day
November 23, 2023, 9 am – 4 pm
Aspen Highlands Opening Day
December 9, 2023, 9 am – 4 pm
Buttermilk Opening Day
December 9, 2023, 9 am – 4 pm
Snowmass Opening Day
November 23, 2023, 9 am – 4 pm
New Terrain Alert! An Updated Rundown on the Local Mountains
Whether you are a seasoned vet or a first-time warrior, the Roaring Fork Valley has a mountain (or several) suited for your skiing or snowboarding skills. Offering multiple locations on each mountain for dining and celebrating, a diverse range of ski runs from green to double black, and outfitters with all of the gear you need within close proximity, these mountains are the core of the Roaring Fork Valley’s winter culture.
This stunning five bedroom home features high ceilings, antique oak floors, large stacked sliding doors, and elegant finishes throughout. The chef’s kitchen includes Wolf and Sub Zero appliances, a double island, casual and formal dining, and is perfect for entertaining. The upper level primary includes a generous bath and private office. The four guest bedrooms are en-suite and beautifully appointed. The outdoor spaces are highlighted by stacked-stone architectural elements and include a private deck, terraced back patio and hot tub offering a lovely place to relax while listening to the running water from the seasonal stream. Located 2 blocks to the Gondola and just steps away from the Little Nell and some of Aspen’s finest dining and boutiques, this property offers luxury and location.
Not Ready to Buy? Your Luxury Vacation Rental Awaits.
Did you know Aspen Snowmass Sotheby’s International Realty is the leading full-service, luxury vacation rental agency in the Roaring Fork Valley for renters and homeowners? Get in touch with me directly to plan your next getaway to Aspen or increase your investment property’s earning potential.
