Snow is Flying
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.
Exclusive Listings
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.
773 County Rd 117
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.
Your Roaring Fork Valley Fall Events List
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.
