matt ross - Matt Ross Realty

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.

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Dreaming of a White Winter?

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.

See More of our Exclusive Rentals

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.

The Aspen Guide

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.

Matt Ross

Market Insights
Quarter 2 – 2024