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!
