Second Quarter Market Report 2017

Our local real estate market is very active this summer! This is the strongest first two quarters for Aspen single-family home sales ever! With $354 million in Aspen single-family home sales through the Second Quarter of 2017 at an average sold price of $7.2 million and an average sold price per sq. ft. of $1,471 we’re seeing all time highs in the Aspen single-family home market. Aspen single-family home sales are up 220% compared to the first two quarters of 2016. The number of transactions is also up 188%. After a slow first half of 2016 the Aspen single-family market has bounced back strong with ten $10-million plus sales to date.  We saw the strongest Aspen single-family home sale in years at 343 Willoughby for $30 million in April and the 11.7-acre Ruby Lot 5 sale on lower Red Mtn., which closed last week for $22 million. With eight sales in 2017 on Red Mountain average sold price is $11.8 million and average price per sq. ft. is $2,107. Only the downtown core single-family market, which is very limited, is stronger with an average sold price of $13.2 million and $2,296 avg. sold price per sq. ft. Currently there are nine $10 million plus properties pending sale in Aspen and one in Old Snowmass at Twin Creeks Ranch Lot 1.