Is Aspen back? The year-to-date real estate activity here points to a definitive answer… yes!
During the first two months of 2015, single-family home sales volume rose by 59% over the same period last year, and the condo/town-home market has taken off like a rocket with a 147% increase from one year ago; $72.8 million vs. $29.5 million.
As for a longer-term view, the 12-month median price for single-family homes is just below $5 million, and the mid-range for condos/town-homes is just shy of $1.4 million. Inventory levels in these sectors have fallen by 22% and 34%, respectively.
Link to download as a pdf – Aspen Board of Realtors Aspen Real Estate Report – February 2015
Itemized below are a number of noteworthy sales:
The highest sales price year-to-date is $15.1 million; a 7,200 square-foot single-family home in Aspen’s Central core. This occurred in early February, and equates to approximately $2,085/sf.
Link to details of the highest sale price this year to date – 220 West Cooper Avenue
The highest per square foot sale happened in mid-January. A 2,940 square-foot Aspen Core Penthouse brought a sales price of $13.2 million, or $2,680/sf.
Link to details of the highest per square foot sale this year to date – 508 E. Cooper Street
There were also several notable sales near the 12-month average sales price. This 2,050 square-foot, 3 bedroom, 3 bath home sold in late February for $5.75 million…
Link to details of 312 W Hopkins Avenue
…and this 1,040 square-foot condo closed in mid-February after going under contract in December 2014, for $1.6 million.
Link to details of the Queen Victoria Condo, 916 E Hopkins
These represent a great start for Aspen’s real estate market in 2015. Of course there are still good buys to be found, they just take a little more digging.
All indicators show a rising market with continued rising prices for the foreseeable future, so if owning a home in Aspen is in your future, don’t put it off much longer – come and see us soon!
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