Snow, Snow, and More Snow
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.
This opinion piece in the Aspen Daily News sums up why to vote no on 2A.
Hot Takes from the Third Quarter
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
