Aspen was blanketed in a picturesque winter wonderland on October 5th. Up to 13 inches of snow fell in the surrounding mountains. The town transformed into a scene straight out of a holiday postcard, with snow-laden trees and glistening streets, setting the stage for an enchanting winter season. Although we have returned to summer-like weather, it was hopefully a preview of an epic winter to come.
Opening Solden World Cup To Be Streamed on Peacock
Exciting news for ski enthusiasts! Peacock Network has announced that you will be able to livestream the adrenaline-pumping Solden Giant Slalom opener. This will be on October 28 and 29. But that’s not all – gear up for an entire winter of excitement as Peacock brings you all the Austrian Races at your fingertips. Don’t miss a moment of the action. Get ready to witness the slopes come alive! Click here for the winter schedule on Peacock.
My takeaways from the Q3 2023 Market Report
I’m pleased to share the Aspen real estate market update for the third quarter of 2023. Aspen’s real estate market witnessed growth, with home sales increasing by 16% compared to the same period last year. The sales volume went from $956 million in 3rd quarter of 2022 to an impressive $1.112 billion in 2023. This surge is a testament to the enduring appeal of Aspen, as buyers continue to recognize the value this market offers.
Throughout the year, transaction numbers have fluctuated based on factors such as location, property type, and pricing dynamics. However, the overall trend indicates a robust market, with buyers displaying keen interest in various Aspen real estate landscape segments.
While listing inventory remains lower than pre-pandemic levels, there is a noticeable uptick compared to the past three years. In the 3rd quarter, condominium transactions have dropped by 34% compared to last year, while the inventory has substantially increased. In September, we saw condominium inventory increase by 17%.
Another shift has been the continued decrease in the percentage sold price to the original list price. This is indicative of the market’s competitive nature. Buyers and sellers navigate these dynamics with sophistication, making informed decisions that benefit both parties.
We are seeing daily price reductions, and days on market have increased by 37%, going from 97 in the 3rd quarter of 2022 to 133 in 2023.
I am thrilled to inform you that Aspen Snowmass Sotheby’s International Realty continues to lead the market, commanding over 25% of the market share with a staggering $1.6 billion in sales. This achievement underscores our commitment to excellence and our clients’ trust in our services.
I am confident that Aspen’s real estate market will continue to thrive, offering exciting opportunities for buyers and sellers alike. If you have any questions or if there’s anything specific you’d like to know about the market trends, please don’t hesitate to reach out.
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.
Investors and employers, take note of this exceptional income property or employee housing option in bustling Glenwood Springs. This well-maintained multi-family apartment building is situated on two acres and features six separate rental units with a proven track record of high occupancy rates and reliable rental income.
Covered parking is available for all tenants, and each unit boasts views of the surrounding landscape. In 2019, a new boiler was installed, ensuring efficient heating for all units. Plus, a brand-new roof was added in 2015, providing peace of mind for years to come.
Laundry facilities are available for units 1-5, while unit 6 has its own convenient stackable washer/dryer.
As we watch the leaves turn from green to gold, the ripe fruit of summer’s bounty fall to the ground, and witness the first snowfalls, we welcome autumn in the Roaring Fork Valley. Arguably the area’s most stunning season, fall is also the most short-lived. As temperatures begin to decline, restaurants and businesses finally experience a break in the surge of visitors and locals in town. The hiking trails, mountain biking paths, rivers, and wildlife reassume their peaceful status. Below, find the best ways to experience fall in the valley with an action-packed week of activities to enjoy! We have curated the most iconic events in the Roaring Fork Valley, including the areas of arts, culture, food and music. No matter which day or night of the week it is, you can find an amazing experience to enjoy with friends, family, and even pets!
Not Ready to Buy? Your Luxury Vacation Rental Awaits.
718 S Galena St., Unit 102A
This beautiful 2nd floor Durant Condo has ski-in ski-out access and amazing unobstructed down valley views. An extensive remodel of the exterior as well as a stylish, timeless interior was recently completed. This unit has a superior location with the complex in the first building and only one staircase up. The living room windows slide open to enjoy the afternoon sunset. Centrally located, you can walk anywhere in town within minutes. Heated pool and hot tub are steps away. There are two large storage units located right outside the front door.
Did you know Aspen Snowmass Sotheby’s International is the leading full-service, luxury vacation rental agency in the Roaring Fork Valley for renters and homeowners? Get in touch to learn more.
Introducing Aspen Mountain Pandora’s Lift: Elevate Your Skiing Experience With 153 New Acres Of Terrain
Get ready to elevate your skiing adventure at Aspen Mountain with the all-new Pandora’s Lift. This exciting addition boasts 153 acres of meticulously gladed northeast-facing terrain, offering an unparalleled experience for advanced skiers. The 20% increase in acreage on Aspen Mountain and a new cutting edge Leitner Poma high-speed quad is the first major improvement on Aspen Mountain since 1985, when the Silver Queen Gondola was added.
Designed with the advanced skier in mind, the terrain includes nineteen chutes, three gladed areas, and four cut trails. The Walsh’s/Kristi’s area will almost double to a 1,200-ft vertical drop.
The north and northeast-facing slope aspects load with almost twice the amount of snow than on lower terrain. I have been skiing Pandora’s for the last 33 years, and it will be a great addition to now have lift access (click here to see what Pandora’s has to offer).
Elevate your skiing adventure with Pandora’s Lift at Aspen Mountain. It’s where efficiency meets thrills, and advanced skiing takes center stage. Don’t miss out on this exciting addition to our world-renowned ski paradise.
Market Update
The Aspen real estate market continues to be an intriguing mix of high-end properties and robust sales, with some noteworthy trends emerging. Days on market are increasing, price per square foot is holding steady, new listings are increasing, and overall, the market is maintaining its strength.
The single-family home market has seen a slight slowdown. There are 32 single-family homes on the market priced at over $20 million. However, only one of these properties is currently under contract, indicating a slowdown in the upper echelons of the market. This phenomenon may be attributed to various factors, including a selective buyer pool and evolving market dynamics.
Despite the challenges in the ultra-luxury segment, Aspen has witnessed remarkable sales activity in recent months. In the last five months, three properties priced over $60 million each have successfully changed hands. These transactions reflect the enduring allure of Aspen for discerning buyers seeking the epitome of mountain luxury.
At the end of August, a property of extraordinary distinction, 41 Popcorn Lane, was listed for an impressive $105 million. This is the first property listed at over $100 million in the Aspen Market. This listing underscores Aspen’s unique value proposition to buyers seeking an unparalleled lifestyle amid stunning natural beauty.
As we navigate the evolving dynamics of the Aspen real estate market, it’s crucial for both buyers and sellers to stay informed and adapt their strategies accordingly. Please give me a call if you have any questions about any aspect of the real estate market.
Fall Foliage Is In Full Swing
Aspen, Colorado, is not only renowned for its world-class skiing but also for its breathtaking autumn foliage. When fall arrives in Aspen, the entire Roaring Fork Valley transforms into a mesmerizing tapestry of colors. Nature’s paintbrush sweeps across the landscape, creating a stunning display of reds, oranges, yellows, and deep greens.
The mountainsides come alive with the vibrant hues of aspen trees, their leaves shimmering like golden coins in the crisp mountain air.
The Roaring Fork River, meandering through the valley, reflects the fiery foliage, adding to the enchantment of the scene.
Hop on a road bike or rent an e-bike and make your way up Castle or Maroon Creek; you’ll be treated to a sensory delight. The Rio Grande Bike path is another option for those wanting to stay closer to town. The cool breeze carries the earthy scent of fallen leaves, and the gentle rustling of aspen leaves provides a soothing soundtrack to your journey.
Exclusive Listings
861 Ute Avenue
This stunning five bedroom home featuring 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. Offered at $27,750,000.
Investors and employers should take note of this exceptional income property or employee housing option in bustling Glenwood Springs. This well-maintained multi-family apartment building is situated on two acres and features six separate rental units with a proven track record of high occupancy rates and reliable rental income. Covered parking is available for all tenants, and each unit boasts views of the surrounding landscape. In 2019, a new boiler was installed, ensuring efficient heating for all units. Plus, a brand-new roof was added in 2015, providing peace of mind for years to come. Offered at $1,645,00.
This beautiful 2nd-floor condominium nestled right on the banks of the Roaring Fork River in downtown Basalt. With breathtaking views, exceptional outdoor amenities, and top-of-the-line features, this rental is a true gem. Wake up to the sounds of the Roaring Fork River in this spacious 2-bedroom, 3-bathroom condo. With 1452 square feet of living space, there is plenty of room to relax and unwind. Food enthusiasts will appreciate the top-tier Viking appliances in the kitchen, along with a large wine refrigerator and gas stove, making it a culinary haven. Step outside to your own outdoor paradise, complete with a gas fire pit and a gas grill. It’s the perfect spot for entertaining or simply enjoying the tranquil riverfront ambiance.
Located in one of the most sought-after areas of Basalt, 132 Ridge Rd has view, charm, and convenience. This stunning 4-bedroom, 3.5-bathroom residence spans just under 3,000 square feet and boasts a spacious 3-car garage, ensuring both comfort and practicality. Positioned within walking distance to downtown Basalt, this exceptional property has brand new wrap-around decks with south-facing views, which will immerse you in the natural beauty that surrounds this home. The expansive decks invite you to bask in the sun’s warmth, providing the perfect setting for al fresco dining, relaxation, and outdoor entertainment against awe-inspiring views. Indoors, luxury meets comfort as the home comes fully furnished, embodying a seamless blend of style and functionality.
In recent weeks, Aspen’s real estate scene has been abuzz with a flurry of new listings and properties entering the contract stage. This surge in activity is a testament to the enduring appeal of Aspen and the opportunities it holds. Whether you’re seeking a cozy mountain retreat or an investment opportunity, the options have never been more exciting.
Town’s Core Properties – A Coveted Gem
Properties for sale in the heart of our town’s core are capturing attention for all the right reasons. With their unmatched charm and convenient proximity to Aspen’s amenities, these listings present an enticing opportunity to immerse yourself in the Aspen lifestyle. From quaint residences to stylish condos, there’s something to suit every discerning taste.
Rising Pendings – A Positive Trend
Over the past three weeks, we’ve witnessed a notable increase in properties moving from available to under contract. The percentage of pending transactions in the core of town has climbed from 14% to an impressive 19%. This uptick reflects a growing confidence among both buyers and sellers, contributing to a healthy and active real estate environment.
Extended Days on Market – Patience and Opportunity
While days on market have extended by 45% compared to last year, this metric unveils a valuable opportunity for those seeking to find their perfect Aspen property. The prolonged duration allows buyers to take a thoughtful approach, explore their options, and make informed decisions aligned with their aspirations.
Steady Active Listings – Choices Abound
The inventory of active listings has remained nearly consistent with a slight 1.5% increase from last year. This stability presents a balanced market where buyers can explore an array of choices while sellers continue to engage with motivated prospects.
Attractive Price-to-Sold Price Ratio – An Advantage for Buyers
We’re delighted to share that the asking price to sold price discount has decreased by 3.2%, signaling promising news for buyers. The 94.5% number is still strong, but the days of full price transactions are slowly coming to an end. This shift underscores a greater alignment between listing prices and actual selling prices, fostering a favorable environment for negotiations and securing your dream property.
Incorporating concepts from ‘Atomic Habits,’ our aim is to make the process of engaging with the Aspen real estate market as seamless and enjoyable as possible. By ensuring that our systems are obvious, attractive, easy, and satisfying, we’re fostering habits that elevate your experience and turn it into an integral part of your journey.
Thank you for your continued trust in Aspen Snowmass Sotheby’s International Realty. We’re here to guide you through every step of your real estate endeavors, creating a positive and productive partnership that drives exceptional results.
Please don’t hesitate to reach out if you have any questions or are ready to take the next step. Your satisfaction and success remain my top priorities.
As we dive into the exciting world of music and entertainment, we count the days until September 1st. The upcoming Jazz Aspen Snowmass festival promises an unforgettable experience, with the legendary Foo Fighters and Billy Idol headlining the event from September 1st to 3rd. Prepare to be mesmerized as these musical icons grace the stage with their undeniable talent and rich history.
Foo Fighters: A Rock Phenomenon
The Foo Fighters have carved an indelible mark in the rock ‘n’ roll universe, enchanting fans around the globe with their electrifying performances and raw energy. Formed by the multi-talented Dave Grohl, a former member of Nirvana, the band skyrocketed to fame with their eponymous debut album in 1995. Since then, they have consistently pushed musical boundaries, earning a reputation for their captivating live shows and chart-topping hits.
With a discography that boasts anthems like “Everlong,” “Best of You,” and “The Pretender,” Foo Fighters effortlessly bridge the gap between heartrending melodies and explosive rock dynamics. Their music is a symphony of passion, creativity, and sheer rock ‘n’ roll power, setting them apart as true titans of the industry.
Billy Idol: Rebel with a Musical Cause
Prepare to be transported back in time as the one and only Billy Idol graces the Jazz Aspen Snowmass stage. A true rock rebel, Billy Idol’s distinctive style, and charismatic presence have made him an enduring figure in music history. From his iconic platinum blonde hair to his rebellious attitude, Idol’s impact on the music scene is nothing short of legendary.
With timeless hits such as “White Wedding,” “Rebel Yell,” and “Dancing with Myself,” Billy Idol’s music encapsulates the essence of an era. His fusion of punk, new wave, and rock ‘n’ roll has solidified his status as a trailblazer, and his live performances continue to captivate audiences with their high-octane energy and unforgettable stage presence. This will be Idol’s first trip back since playing at the Double Diamond back in the early 90’s.
As the vibrant hues of autumn paint the landscape and the crisp air carries a sense of anticipation, it’s the perfect time to delve into the exhilarating world of fall mountain biking and road cycling in the breathtaking Roaring Fork Valley. Whether you’re seeking heart-pounding trails or scenic road routes, this season offers an array of experiences that cater to every cyclist’s dream. Join us as we explore some of the most captivating biking destinations, from Sky Mountain Park in Aspen to the Monument Ride in Grand Junction.
Sky Mountain Park: A Biking Haven in Aspen
Located between Snowmass and Aspen, Sky Mountain Park is a true gem for mountain biking enthusiasts. This expansive trail network boasts a range of options for riders of all skill levels, offering thrilling descents, sweeping vistas, and an immersive connection with nature. As you navigate the winding paths and take in panoramic views of the surrounding mountains, you’ll find that Sky Mountain Park epitomizes the essence of fall mountain biking, where every pedal stroke is a journey into both physical exhilaration and natural wonder. I recommended riding from town, climbing either the new Airline ascent or starting from the Brush Creek Intercept lot and ascending Cozy Line. Traverse Viewline for about 3 miles to Deadline. At the bottom of Deadline, head over to the Snowmass Recreation Center and climb up North Rim to the incredible Seven Star Downhill. You can ride the bike path back to the intercept lop, add some mileage, and head back up to Viewline to Skyline and back down Airline to Aspen.
Basalt’s Trails: Vasten Buckhorn Unveiled
This trail system is right outside my back door, and I am constantly riding it. Glassier Vasten Buckhorn trails are a testament to the valley’s cycling reputation. With their intriguing blend of technical sections, diverse landscapes, and captivating views, these trails are a haven for mountain biking aficionados (Buckhorn Traverse is pictured above). Climb Glassier to Vasten, then hit the new Crown Royal downhill with some crazy technical tabletops, figure eights, and fast descent.
The Monument Ride: Grand Junction’s Cycling Spectacle
For those seeking a road cycling adventure, the Monument Ride in Grand Junction offers an awe-inspiring journey through the rugged beauty of the Colorado Plateau. Hop onto I-70 Westbound and exit at Fruita. Go over the bridge and park your car at the entrance to the park. As you pedal along the winding roads and towering red rock formations, you’ll experience a sense of awe and wonder that’s truly unparalleled. The Monument Ride is a testament to the sheer grandeur of nature, inviting cyclists to embrace the challenge while basking in the sheer beauty of their surroundings.
Whether you’re carving through the trails of Sky Mountain Park, immersing yourself in the serenity of Basalt’s rugged beauty, or embarking on the Monument Ride in Grand Junction, this fall promises an unforgettable journey that combines the thrill of cycling with the splendor of the season.
Exclusive Listing – 861 Ute Avenue
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.
14 Places To Escape Outside Before the End of Summer
Welcome to The Roaring Fork Valley in Colorado–a haven for outdoor enthusiasts and adventurers alike. In this comprehensive locals’ guide, we’ll unveil the hidden gems and cherished spots that make this mountain town a paradise for hiking, biking, rafting, stand-up paddle boarding, and camping. Whether you’re seeking breathtaking trails, adrenaline-pumping rides, or tranquil waters, join us as we explore the very best our Valley has to offer for an unforgettable outdoor experience.
Hiking
Smuggler Mountain Trail – Aspen
This is one of the most well known trails near Aspen, and for good reason. At 3 miles roundtrip and with an elevation gain of 800 feet, this trail is a good hike for beginners and experts alike. Take in breathtaking views of Aspen from the Smuggler mountain overlook.
Sunnyside Trail – Aspen
Sunnyside Trail is a moderate hike with rewarding views of Aspen, the surrounding ski areas, and the many peaks of the Roaring Fork Valley. At 4.8 miles roundtrip and 1,700 feet of elevation gain, this hike requires some planning and commitment, but is extremely rewarding.
Hunter Creek Loop – Aspen
The Hunter Creek Loop hiking trail in Aspen, Colorado, offers a moderate-level adventure suitable for both beginners and experienced hikers. This captivating loop treats hikers to the beauty of Hunter Creek, enchanting waterfalls, and stunning vistas of the surrounding mountains, making it a perfect blend of natural wonders and manageable challenge.
American Lake – Aspen
American Lake hiking trail in Aspen, Colorado, offers a moderately strenuous yet rewarding experience for outdoor enthusiasts. Ascending through alpine meadows and dense forests, this trail leads to the breathtaking American Lake, cradled beneath towering peaks, providing hikers with both a satisfying challenge and awe-inspiring mountain vistas.
Rafting/Stand-Up Paddleboard (SUP)
The Roaring Fork River
For an adventurous, rapid-filled day or a lazy float down the river, The Roaring Fork River has it all. Hop on your SUP or strap into your raft, this river will not disappoint. A great way to take in the Roaring Fork Valley while adding some adventure to your day.
Ruedi Reservoir – Basalt
Just 14 miles from Basalt, this expansive reservoir offers plenty of water sport activities. From speed boats and jet skis, to SUPs and canoes, this reservoir is a great day activity for everyone.
Stillwater – Aspen
Paddle boarding in the Stillwater wetlands offers a serene and immersive experience in a unique natural environment. Gliding through calm waters surrounded by lush vegetation and diverse wildlife, adventurers can enjoy a tranquil escape and connect with nature in a picturesque setting.
Biking
The Rio Grande Trail – Aspen to Glenwood Springs
If you’re ready to break out your road bike and take down some miles, then the Rio Grande Trail is just the trail to be on. Stretching 42 miles of paved path from Aspen to Glenwood Springs, this trail is not only a great ride, but a great way to see every part of the valley.
Snowmass Bike Park – Snowmass
The Snowmass Bike Park was designed with every level of biker in mind. With over 3,000 vertical feet of designated downhill trails, this park is a mountain bikers’ dream. The Roaring Fork Valley was recently named an IMBA Gold-Level Ride Center, one of only seven in the world.
Castle Creek Road – Aspen
Biking along Castle Creek Road in Aspen, Colorado, provides cyclists with a thrilling journey through scenic beauty and alpine charm. The road winds alongside the meandering Castle Creek, passing by charming cottages, dense forests, and occasional glimpses of towering mountain peaks, offering a challenging yet immensely rewarding ride for those seeking both natural splendor and an invigorating workout.
Camping
Silver Bar Campground – Aspen
Located just a short drive from Aspen, this campsite offers great scenery, sounds of the nearby Maroon Creek and great privacy. Hop on the nearby trails for a day of hiking or horseback riding or fish the Maroon Creek.
Chapman Campground – Fryingpan River Road past Ruedi Reservoir
In the heart of the Rocky Mountains, White River National Forest offers endless serenity and adventure. With eight wilderness areas and 10 peaks surpassing 14,000 feet in elevation, the lush forest is filled with scenic, winding rivers and beautiful wildlife.
Lost ManCampground – Aspen
Lost Man Campground, perched up Independence Pass in Aspen, Colorado, offers a serene camping getaway amidst the breathtaking Rocky Mountains. Set against the backdrop of stunning alpine vistas, the nearby Lost Man Lake hiking trail beckons hikers with its high-altitude charm, culminating in the reward of a pristine alpine lake nestled within the rugged terrain.
From the majestic peaks of the Maroon Bells to the tranquil shores of Ruedi Reservoir, this charming mountain valley offers a plethora of outdoor activities that cater to all interests and skill levels. Whether you’re seeking thrilling adventures like hiking, biking, and skiing, or simply looking to immerse yourself in the serenity of nature, breathtaking landscapes in the Roaring Fork Valley provide an unforgettable experience. So, whether you’re a seasoned adventurer or a casual nature lover, make sure to add these top outdoor destinations to your bucket list for a truly remarkable journey into the heart of Colorado’s wilderness.
Your Luxury Vacation Rental Awaits – 731 E Durant Avenue, Unit 13
Recently remodeled, this contemporary Chateau Chaumont 2-bedroom/2-bathroom 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.
They say the journey is the reward, not the destination. Switching careers mid-life to become a real estate broker with Aspen Snowmass Sotheby’s was not an easy decision. It’s a crowded marketplace with many esteemed brokers doing great work for their clients. Setting out on this pursuit was a difficult decision, not to be taken lightly, but finding my niche and a passion for everything the valley has to offer drove the career pivot.
Now celebrating three years with Aspen Snowmass Sotheby’s, it’s hard to imagine doing anything else. Working and owning investment properties in the Roaring Fork Valley for the last twenty-five years provided unique insights, an extensive network, and a deep understanding of the market that lends itself to helping clients – whether it’s buying, selling, or renting a property.
Recent accomplishments include co-listing 861 Ute Avenue in Aspen with Tracy and Bubba Eggelston for $27.750 million. Managing a listing of this magnitude requires attention to detail and a strong client relationship.
On the rental side, my portfolio is up to 18 managed properties serving owners and clients of all different spectrums up and down the valley. In 2022 I was ranked #2 in rental transaction volume for all of Aspen Snowmass Sotheby’s, with just over 100 transactions for the year.
Another recent accomplishment was assisting my client with an 18-month rental in Aspen at 55 Overlook Drive, constituting the single largest rental signing in my tenure as a broker.
Aspen Snowmass Sotheby’s continues to be the premier brokerage, and it’s my honor to work alongside such an incredible roster of real estate professionals. However, none of this would be possible without my clients putting their faith and trust in me. Huge thanks to everyone who made these first three years possible – Thank you!
New Listing 861 Ute Avenue $27,750,000
I am very excited to represent this stunning five-bedroom home featuring 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 a private office. The four guest bedrooms are en-suite and beautifully appointed.
Stacked-stone architectural elements highlight the outdoor spaces 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 convenience.
After a very long spring that saw snow storms blanketing the upper mountains as late as June 15th, warmer temperatures have arrived, accompanied by brilliant blue skies and sunshine.
We are starting to see signs of a softening rental market. with a decrease in inquiries and bookings for the summer months. Aspen has seen a 7.1% decline in occupancy for June, bringing our occupancy for that month down to 53.9%.
From May to October, numbers are pacing down 13.7% compared to last summer. Our slowdown can be attributed to two factors.
1. The additional 10% tax the City of Aspen assessed for short-term rentals brings the tax rate on STR’s to a staggering 21.3%.
2. The demand for overseas travel has added to our summer slowdown.
If you do plan on coming out, please give me a call or send me an email. I would happily show you one of my 18 rental listings priced from $10,000 to $175,000 a month or something else if need be.
Sotheby’s Gallery Reopens for Summer 2023
Discover Sotheby’s Aspen — one of the auction house’s three galleries in the nation that bring together exceptional works of art, design and luxury in a curated lifestyle setting. Sotheby’s International Realty benefits from the high-caliber standards set by the auction house in tradition, innovation, and marketing collaboration.
Located in the heart of downtown Aspen and reopening for the entirety of the summer season, Sotheby’s Aspen gallery showcases a wide range of fine art, design, jewelry and more, all available for immediate purchase and continuously rotated year round.
Feasting Al Fresco: 4 Stylish Homes with Outdoor Dining Areas
Cookbook author Claudia Roden’s assertion that “everything tastes better outdoors” is certainly true at these four distinctive homes with alfresco dining spaces. Every meal is accompanied by views of verdant vineyards, majestic mountains, and other idyllic settings.
With the end of the ski season upon us, we are seeing signs of a slowdown in certain real estate market sectors. There has been a 26% drop in year-to-date-closed transactions (42 this year compared to 57 last year), a 4% drop in the sale-to-list price ratio, and a 13% drop in new listings. There are currently 40 condominiums listed in Aspen, with only 17% of those under contract. In 2022, the pending to listed ratio was double that number.
There are plenty of deals to be had when looking at properties in the Aspen Area. With 16 rental listings and my experience in buying, rehabbing, renting, and selling numerous properties in the Roaring Fork Valley over the last 25 years, I can provide value in your search for the ideal home. Feel free to shoot me an email or give me a call to discuss the real estate market.
725 E Durant Ave #22 was recently listed for $3.225 mill. This 828 square foot, below grade 1 bedroom 1 bath comes on the market at a whopping $4,105 a square foot. It was purchased a year ago for $1.650 mill and had a complete remodel done. No matter how nice the remodel is, I do not think this price is realistic.
The season is winding down, and yesterday was the best day of spring skiing. The Dumps and The Face of Bell had flat, fast, full-blown corn skiing. Less than 24 hours later, we experienced a 25-degree temperature drop and 5 inches of new snow on the ground which led to a great morning up in Snowmass on Sam’s Knob. Mid-January conditions in late April.
If you don’t like the weather in Colorado, wait a few hours for it to change. Spring in the Rocky Mountains is always a mixed bag of weather.
Close to Home Activities
With Aspen Mountain closing for the winter season soon, the off-season is officially here, and it’s time to get out of town and dust off your summer gear. While hiking and mountain biking are not an option in the upper valley, it’s the perfect time to road bike in Carbondale or Basalt. Be sure to check out one of my favorite early-season routes in the mid-valley on Strava. Road biking is a great way to stay in shape and keep up your cardio until the trails open up.
For those seeking adrenaline-fueled activities, Moab offers a range of options, including rock climbing, mountain biking, white-water rafting, and off-roading. The shoulder season is an excellent time to visit Moab, as the heat can be intense in the summer months. Visitors can also explore Arches National Park and Canyonlands National Park, two stunning natural wonders located just a short drive from town. The area has a lot of accommodations and vacation rentals that are increasingly more high-end than in the past. Let me know if you want some advice on where to stay and what to do.
Fruita, just outside of Grand Junction on the Utah border, about a two-hour drive from Aspen, is another great off-season destination for outdoor enthusiasts. The area is known for its exceptional mountain biking trails, including the Kokopelli area and 18 Road Trails.
Visitors can also explore the nearby Colorado National Monument, a breathtaking landscape of towering red rocks and canyons which offers one of the best road rides in the country. With lots of great restaurants, including the always popular Hot Tomato Pizza and some new breweries downtown, there is no excuse not to spend a few days taking advantage of the incredible desert trails and springtime happenings.
Aspen in the shoulder season, can be a great place for a quiet retreat offering a lot of value and some amazing local deals at some of the best restaurants. A short drive down valley opens up a whole new set of options for recreation, trails, and restaurants often overlooked during peak winter. And if you’re up for a short road trip, don’t miss Moab and Fruita in their prime – it’s always worth the effort.
229 Faraway Road, Unit 35 – Snowmass Village
New Rental Listing
Introducing Unit 36 at 229 Faraway Rd, offering some of the most stunning vistas in Snowmass Village. This bright and airy multi-level corner unit boasts vaulted ceilings and a spacious layout with breathtaking views of Snowmass Resort and Mt. Daly. The condo features a magnificent kitchen with high-end appliances, a natural wood-burning fireplace, and luxurious bathrooms. With several en-suite bedrooms and versatile sleeping arrangements, plus a second den downstairs, there’s plenty of room for everyone to spread out. Ample parking and gear storage complete the package. Look no further, this property has everything you need for a memorable stay in Snowmass.
Recently remodeled, this contemporary Chateau Chaumont 2-bedroom 2-bathroom condo pictured above 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.
This is one of 16 rental listings in my portfolio. With 25-years of experience buying, rehabbing, renting, and selling numerous properties in the Roaring Fork Valley, it would be my pleasure to help in your search for the ideal home or vacation rental.
Spring is officially here – but it sure doesn’t feel like it. Recent storms dropped up to 12 inches of moisture-laden snow on Aspen Mountain overnight (snow stake pictured above) topping off a powder-filled week. With the snowpack on Aspen Mountain sitting at 123% of average for the season and no end in sight to the low-pressure systems and below-average temperatures, it looks much more like mid-January than late March. For those of you not refreshing the snow report and staring at mountain cams, summer is right around the corner and prime vacation rental inventory is starting to dwindle.
The past few months have seen unprecedented demand for rentals, both winter and summer, despite a slowdown in overall real estate transactions and financial turbulence in the greater economy. Several landlords recently entrusted me with their investment properties offering more options than ever in the heart of downtown Aspen to take advantage of everything the area has lined up for an action-packed summer.
Jazz Aspen Snowmass Announces Amazing Lineup
Foo Fighters
One of the most exciting happenings this summer is sure to be the Foo Fighters headline performance at the Jazz Aspen Snowmass Labor Day Experience September 1 – 3, 2023. The Foo Fighters are one of the most popular and enduring rock bands of the last two decades, and their upcoming summer tour promises to be one of the biggest events on the live music calendar. With a string of hits like “Everlong,” “Learn to Fly,” and “My Hero,” the band has built up a massive following of fans around the world and are a personal favorite.
The tour will see the Foo Fighters perform in some of the biggest and most prestigious venues in North America and Europe. Their JAS show promises to be an unforgettable experience for anyone lucky enough to attend. This iconic event has been running since 1991 and has played host to some of the biggest names in music, from Stevie Wonder and Bob Dylan to Sting and Lenny Kravitz to name a few. The Foo Fighters’ appearance – along with The Lumineers, Old Dominion, Billy Idol, Grace Potter, and more – is a major coup for the festival and is sure to be a highlight of the summer.
Congratulations to the buyers of my Glenwood Springs 2-bed/2-bath contemporary loft-style condo listing. Perfect for an investment property or second home, the unit features a convenient south-side location – within walking distance to restaurants, shops, trails, and the bike path. The new owners appreciated the fenced-in yard backing up to open space and a pet-friendly complex. Concrete floors, radiant heat in the bathrooms, stainless steel appliances, central air conditioning, and a nearby RFTA transit hub sealed the deal.
2550 Hwy 82, Unit D200 | Glenwood Spring, CO | 2 Bedrooms | 2 Bathrooms | 1,200 sf | Offered at $520,000
Introducing the Elevated Living Base Guide
We’re excited to launch the newest Elevated Living publication: the Base Guide for the Roaring Fork Valley! Whether you’re visiting for just a few days or are a long-time local, this guide is your invaluable resource, streamlining everything you need to know about the Roaring Fork Valley from events to historical backgrounds and more. Click the link below to start reading, or stop by any of our 11 offices throughout the valley to pick up a copy of the guide!
This recently updated second-floor 2-bedroom, 1-bath condo is just two blocks from the Silver Queen Gondola and walkable to everything in the Aspen central core. The incredible location is complemented by a warm contemporary fireplace, new furnishings, modern fixtures, a private patio, and a grill overlooking Aspen Mountain. Remote workers will appreciate the private office space. Onsite dedicated parking for one vehicle and indoor ski and boot storage make this the ultimate base camp for your next Aspen adventure.
This light and bright 2-bedroom, 2-bath unit was recently refreshed with all new furniture, paint, and fixtures. The condo is located in South Point – one of the most coveted buildings in the Aspen central core – just three blocks to the Silver Queen Gondola and a half block from Wagner Park and the Rubey Park transit hub. Visitors will love the incredible views of Red Mountain and spacious private patio with grill. A recent exterior renovation, heated underground parking, air conditioning, ski locker, and an additional storage room complete the package. DM for details.
From an €11M sale in Milan, Italy, to a $15M sale in Middletown, Rhode Island, read more about the five highlighted significant sales represented by the Sotheby’s International Realty® global network in 2023.
Working hard to grow my real estate business the past few years has paid off – thanks to you, my clients. Of all the rental brokers at Aspen Snowmass Sotheby’s International Realty, I was second in transaction volume in 2022 with 105 total contracts written. The Team, with three brokers working together, was the only group that surpassed my one-person operation. Stay tuned for several more rental properties coming on board in the next few weeks in addition to my eleven current listings.
Let me know if you have any questions about the dynamic rental market in the Aspen area. If you, or anyone you know, is looking to list a property or needs an upcoming vacation rental, it would be my honor to assist.
Market Update
2022 saw a 50% decrease in gross sales and 30% decrease in overall transaction volume, with condo/townhome sector transactions down by over 52.9%. However, the price per square foot and median sale price were up 40.1% and 49.4%, respectively. Focusing on the condo market in Aspen is my specialty. I have purchased, remodeled, and sold several properties in this sector. We currently have 34 condo/townhome properties listed in the core of Aspen for under $7 million, with eight already under contract, although there are still deals to be had. Buyers must be prepared to act when a good property comes to market because it will likely go under contract quickly. However, properties that are overpriced or in bad condition continue to sit on the sidelines.
If you have a property and would like to know its value or want to discuss the market, feel free to give me a call.
The 2-bedroom 2-bath condo shown above, located in Glenwood Springs, is my latest listing. It’s a great investment property with a 5% cap rate, but could also be perfect for an end user. The unit is 1,200 square feet and has high ceilings, concrete floors, forced air, and central A/C. There is a fenced-in backyard, and pets are allowed. It is in a mixed-use area, and the downstairs tenant is the Aspen Historical Society which uses the property as a storage facility so there is no noise.
The current tenant is paying $3,300 a month plus utilities, and the lease goes out to September 2023. Please let me know if you would like to take a look.
The World Cup returns to North America with women’s and men’s events at Palisades Tahoe and Aspen Mountain. The women will be in California February 25th – 26th, skiing Giant Slalom and Slalom, while the men will have two Downhills and a Super G March 3rd – 5th. For those not following the World Cup Tour, there has been a ton of excitement as Mikaela Shiffrin closes in on Ingemar Stenmark’s 86 World Cup win record. She is currently at 82, tied with Lindsey Vonn for the most wins by a female. She had a flurry of wins in the last few weeks and was expected to surpass Vonn at the Flachau night slalom but ended up second. There is a chance she could break Stenmark’s record on home turf in Tahoe.
The 2022/2023 ski season is now underway! After quite a few snowstorms that granted early access to the mountains, the Roaring Fork Valley is buzzing with locals and visitors alike. Pre-planning to make the most of your time in Aspen/Snowmass and the Roaring Fork Valley can be challenging. Using Aspen Snowmass Sotheby’s International Realty’s ultimate winter bucket list, hit all the best spots!
Not Ready to Buy? Check Out My Rentals In the Core of Town
Did you know Aspen Snowmass Sotheby’s is the leading full-service, luxury vacation rental agency in the Roaring Fork Valley for renters and homeowners? We offer full-service, luxury vacation rentals with expertise that reaches down the block, up the mountain, and around the world. As the premier brokerage in rentals and sales in the Roaring Fork Valley for over a decade, we are dedicated to delivering unrivaled customer service.
Last weekend’s early opening did not disappoint as Aspen Mountain offered top-to-bottom skiing with 174 available acres, while Snowmass had 78 acres available. Top-to-bottom skiing is a real treat this time of year. Spar and Copper were both skiing well with plenty of coverage, and the entire width of Little Nell was skiable, something we do not see this early in the season. It’s lining up to be a great season!
Insider tips to support your favorite local RFV businesses this holiday season!
Your 2022 Holiday Season Gift Guide
With the season of giving in full swing, there’s no better time to support local businesses than by shopping locally in Aspen, Snowmass, and throughout the Roaring Fork Valley for all your holiday gift needs. Whether you’re a long-time area local or a visitor that wants to support our ski towns, this guide is here to help you find unique and local items that your friends and family will love. Happy Holidays from Aspen Snowmass Sotheby’s International Realty!
We have several available condos for the holiday season and the 2023 winter months. See the below units and let me know if you are still looking for a place to stay during the holiday season.
This beautiful 2nd floor Durant Condo has ski-in ski-out access and amazing unobstructed down valley views. An extensive remodel of the exterior as well as a stylish, timeless interior was recently completed. This unit has a superior location with the complex in the first building and only one staircase up. The living room windows slide open to enjoy the afternoon sunset. Centrally located, you can walk anywhere in town within minutes. Heated pool and hot tub are steps away. There are two large storage units located right outside the front door.
RECENTLY RENOVATED! Get ready for your next Aspen adventure with refreshed amenities throughout this exceptional rental property in the downtown core. 205 S. Original St., Unit D. is a centrally located 2-bedroom/2-bathroom plus den featuring walkability to the Silver Queen Gondola. Recent updates include a new kitchen, bedding, light fixtures, granite fireplace surround, area rugs, a window unit AC, and fresh paint on every surface. The updated finishes, combined with ample gear storage and bonus sleeping accommodations in the downstairs den, make this the perfect vacation rental for your next Aspen getaway.
Escaping to Aspen has never been easier and more convenient with this recently remodeled two bedroom, two bathroom corner unit at South Point featuring views of Aspen Mountain and Red Mountain. The prime location is walkable to everything downtown and includes a dedicated garage parking spot, ski locker and close proximity to the Gondola and Lift 1A. Bosch appliances throughout, a wine fridge, gas fireplace, in-unit washer/dryer, and deck to soak up the stunning views complete the package.
This Chateau Blanc two bedroom two bathroom was remodeled in 2019. Enjoy this quiet location just two blocks to the center of town and four blocks to the Silver Queen Gondola. The living area and kitchen are large enough to entertain four to six people. That same area allows you to relax after a long day in the outdoors. A wood burning fireplace and east facing deck round out the amenities this two bed two bath has to offer.
This two bedroom, two bathroom third floor Ute Condo features updated modern finishes, Viking stainless appliances, and a wine refrigerator to keep the beverages chilled. Located only a few blocks to the center of downtown and the gondola, this condo is equipped with a fireplace, flat screen televisions, washer/dryer, WiFi and a reserved parking space in the lot. Enjoy a nice steam shower in the primary suite at the end of an active Aspen day, and then take in the views of Aspen Mountain from either bedroom. 30 day minimum.
Newly remodeled and ready for your next stay in Aspen – this stylish Chateau Blanc 1-bedroom, 2-bathroom unit features an office for remote work which converts to a bonus second bedroom. The premier location, just two blocks to the center of town and four blocks to the Silver Queen Gondola, simply can’t be beat. The recently completed top-to-bottom renovation includes premium flooring, radiant in-floor heating throughout the unit, air conditioning, high-end appliances, contemporary furnishings, custom built-in cabinetry, mudroom storage lockers, a boot dryer, and luxurious bedding. Aspen Mountain views, a wood-burning fireplace, stackable washer/dryer, and off-street parking round out the amenities of this impeccable rental property.
After one of the mildest falls we have seen, the seasons changed overnight this past week. You may think the above picture was taken in mid-December, but it was captured on October 25. Three large snow storms blanketed the entire Roaring Fork Valley, all before Halloween. The storm total for Aspen Mountain was over 26 inches, and Highlands was coated with over 32 inches, an excellent start to our 2022-2023 winter season.
Here are a few more pictures from my first Aspen Mountain ski day of the year. You can see more videos from the day on Instagram @mattrossrealty.
Vote No on 2A
As we approach election day, the City of Aspen has proposed a new tax on short-term rentals. The tax would be 5% on condo hotelier-type residences (The Gant, Aspen Square) as well as owner-occupied units and 10% on every other property. This would raise the assessed tax rate to 16.3% and 21.3%, respectively. If a guest books on Airbnb, they will incur a 36.3% tax/surcharge fee. This may cause guests to seek alternative mountain destinations with less expensive lodging.
By increasing the tax rate on short-term rentals, Aspen’s competitors will have a pricing advantage. This tax could potentially drive away off-season business as well. Weddings and conferences may move venues to less expensive areas. A 21.3% tax is just too much, please vote no 2A.
Aspen Snowmass Sotheby’s International Realty remains the market leader, helping more clients reach their real estate goals than any other brokerage in the Roaring Fork Valley.
So far this year, our brokers have executed more closings than any other brokerage, representing nearly a quarter of the sales and over 25% of high-end sales over $5 million in our resort markets.
While it’s been a phenomenal “seller’s market” as of late, there are signs the market is shifting.
Although sales activity remains robust, inventory continues to rise, allowing buyers to take more pause in the purchasing process in comparison to the record setting pace of 2020 and 2021. Prices have risen significantly in our local markets over the past few years, and most neighborhoods have experienced a 15-20%+ jump in the average price per square foot for sold properties in comparison to this time last year.
The upper end of the luxury market continues to defy historic sales trends.
Our firm is proud to have represented several of the marquis closings this year. We continue to be the number one brokerage in the luxury market, with more closings over $5 Million in Aspen and Snowmass Village than any other brokerage.
Off-market listing opportunities are more sought-after than ever.
Our agents continue to prove they have the network, leverage and insight to connect buyers and sellers regardless of price point, location or type of property.
Don’t miss the opportunity to rent this beautifully remodeled Chateau Blanc 2-bedroom/2-bathroom unit. Just two blocks to the center of town and four blocks to the Silver Queen Gondola, this stylish condo features premium flooring, radiant in-floor bathroom heat, air conditioning, high-end appliances, contemporary furnishings, custom built-in cabinetry, mudroom storage lockers, a boot dryer, and luxurious bedding. Immediately available for long or short term rentals with a 30-day minimum.
901 E Hyman Ave, Unit 5 | Aspen, CO | 830 SF | 2 Bedroom | 2 Bathroom | Offered at $15,000/month
This Chateau Chaumont 2-bedroom/2-bathroom condo features an A+ location just a block from the gondola. The property features a wood burning fireplace, mountain modern aesthetic, hardwood floors, high-end appliances, and open concept floor plan. Access to gear storage, a hot tub for après, laundry facilities, covered parking, and additional parking in the alley of the W Hotel makes this a great rental opportunity in the heart of downtown Aspen.
731 East Durant, Unit 13 | Aspen, CO | 2 Bedrooms | 2 Bathrooms | 834 sf | Offered at $21,000/month
Aspen’s Short Term Rental Moratorium Ends October 1st
As of Saturday, October 1st, the town of Aspen has ended its STR Moratorium. You can now click here to submit an application and follow the city’s cumbersome steps to get in line for an STR permit.
If you live outside the lodging district (click here to see what zone your property is in) and are trying to qualify, your chances of obtaining a permit are slim. There are currently 254 outstanding permits for the multi-family residential zones, with only 190 available. Property owners would either need to forfeit or have 64 permits expire for a new application to be processed and issued. It is unlikely that anyone will forfeit their rental license.
If you are located in the lodging district, you are assured of being issued a permit. The town is trying to keep the vitality in the core by not restricting the number of permits issued in this area. (Click here for the instructions on the new permit process).
We are seeing more movement in the market with significant price reductions and more pending transactions than we have in the last few months. As you can see from the above table, active inventory is up 45% over last August in the Aspen Condo Market, while closed sales are down 59%. Absorption rates are significantly down. In most markets, this would benefit buyers.
Unfortunately, this is not the case in the Aspen Market. Sellers continue to hold steady on their pricing, with no need to sell. You can see above that price per square foot is up 51% over August of 2021 (I did put a 2 bedroom 2 bath under contract for a client in the core of town for under $3,000 a square foot, which is a steal in this market). If you have any questions about the market, please contact me.
Introducing Elevated Living
Aspen Snowmass Sotheby’s International Realty is proud to announce our new magazine: Elevated Living, your guide to our services and The Roaring Fork Valley. This multi-faceted resource reinvents and streamlines the approach to consuming local real estate media.
Whether you are seeking an experienced broker to spearhead the buying or selling process of your property, searching for the most entertaining outdoor activities in the Valley, or staying up to date with the latest insights on the local markets, Elevated Living offers the content you crave.
Click on the image above to view the digital version of the magazine or pick up a hard copy outside any of our 12 offices located throughout The Roaring Fork Valley today. For details on our office locations, visit our website.
901 E Hyman Avenue, Unit 9 is an ideal property for an escape in the heart of downtown or an investment property with excellent rental history. This perfectly remodeled, contemporary 2-bedroom/2-bath condo is offered fully furnished with a wood-burning fireplace, stackable washer/dryer, off-street parking, and gear locker.
901 E Hyman Avenue, Unit 9, Aspen CO | 875 SF | 2 Beds | 2 Baths | Offered at $3,250,000
This conveniently located two bedroom/ three bathroom plus den is the perfect base camp for your next Aspen adventure. Located just four blocks to the Silver Queen Gondola – the unit has been updated with modern finishes, and plenty of closet space for gear storage. Guests will appreciate the bonus sleeping accommodations downstairs as well as walkability to everything downtown has to offer.
250 S Original Street Unit D, Aspen CO | 2 Beds | 3 Baths | Offered at $18,000/month
This beautiful 2nd floor Durant Condo has ski-in ski-out access and amazing unobstructed down valley views. An extensive remodel of the exterior as well as a stylish, timeless interior was recently completed. This unit has a superior location with the complex in the first building and only one staircase up. The living room windows slide open to enjoy the afternoon sunset. Centrally located, you can walk anywhere in town within minutes. Heated pool and hot tub are steps away. There are two large storage units located right outside the front door.
718 S Galena St. Unit 102A, Aspen CO | 3 Beds | 2 Baths | Offered at $34,000/month
