First Quarter Market Report 2018

Happy springtime from Aspen! I hope you are doing well. It was a fun Closing Day party yesterday at Aspen Highlands and Buttermilk Mountain. There were some classic retro outfits and amazing costumes on display at Highlands yesterday and about ten inches of new snow. What an ironic finish to the season, after the slow start this winter. Off-season is fast approaching in town. There are lots of projects underway in Aspen Snowmass including the new $100 million W Hotel, the new Limelight Snowmass and Lumin, Plato’s Restaurant at Aspen Meadows, Hotel Jerome, and of course the $4.5 million Castle Creek Bridge bike path and bus stop improvements. Everyone is working hard to be ready for this summer and next winter.

The Aspen Real Estate Market continues to be very strong. First Quarter 2018 saw the best condominium sales activity in history with $110 million in total condo sold volume, $1,413 sold $/SF, and an average sold price of $3,692,995. Six One Aspen sales and an $18.3 million Top of Mill Townhouse sale had a big impact on these numbers. There were still more Aspen condo sales in Q1’18 with 19 versus 15 in Q1’17.