It’s A Fast Start For Aspen in 2015

It’s A Fast Start For Aspen in 2015

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/townhomes is just shy of $1.4 million. Inventory levels in these sectors have fallen by 22% and 34%, respectively.
220 West Cooper, Aspen (left), 508 E Cooper, Aspen (right)
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.
  • 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.

312 West Hopkins, Aspen (left), Queen Victoria Condo at 916 E Hopkins, Aspen (right)
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. And this 1,040-square-foot condo closed in mid-February after going under contract in December 2014, for $1.6 million.
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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