Aspen Square Condominium Hotel December 2015 Real Estate Update

Posted on December 4, 2015 by Chris Klug

It has been a busy fall season for real estate activity in Aspen. Numbers are up across the board in the Roaring Fork Valley Real Estate Market. The Aspen downtown core, Red Mountain and the West End continue to drive our local market. We’ve seen ten core condo sales in 2015 above $2,000 a sq. ft., one at Aspen Square Hotel. The Aspen Core Penthouse, behind Boogies, sold last month for 25 million, about $3,000 a sq. ft. for an unfinished 8,000 sq. ft. white box., which will probably take another 8-10 million to finish. Aspen Core Penthouse joins The Motherlode Penthouse and Aspen Muse Penthouse next to the 50 million dollar Aspen Art Museum as the three $3,000 plus sq. ft. sales the past year. Focusing on the downtown Aspen core condo market we have seen an increase in the number of transactions from 91 last year through November 2014 to 99 this year for the same time period. Sold dollar volume of core condos has increased from 198 million to 208 million this year. Average sold price decreased slightly from $2,172,416 in 2014 to $2,098,338. Average sold price per sq. ft. went up from $1,332 to $1,391. Average days on market decreased from 235 days to 226 days.

At Aspen Square specifically we have seen three sales in 2015: 214, 135 and 119. Average sold price per sq. ft. of the three sales in 2015 was $1,865.93. Average sold price per sq. ft. of all 2014 and 2015 sales was $1,626.01. I closed December 2 on studio unit 214 for $700,000, which was listed for $749,000. Sale/list price was about 93.5%. There are currently four active studio listings at Aspen Square today:

  • Unit 215 - $715,000
  • Unit 224 - $749,000
  • Unit 313 - $949,000
  • Unit 309 - $1,125,000

I anticipate a busy winter selling season ahead. My business has nearly doubled from last year. There’s a premium for downtown core A+ locations with good light, views and newer contemporary finishes. Interest and showing traffic for studios is increasing with strong rental history, and the best location and amenities in town. There is a lot of demand for one and two-bedroom Aspen Square opportunities, but no inventory today. The Gant has seen a lot of sales activity in 2015 with eleven condo sales trading on average at $1,241 sold price per sq. ft. There are currently eight active listings at The Gant today with an absorption rate of about nine months. Overall inventory for core condos is slightly down from 120 last year to 115 today. Pending inventory of downtown condos is slightly down from 26 last November to 23 this November 30, 2015. I think we will see a strong finish to 2015 and a busy winter season ahead with less product and higher prices. Call or email anytime for complete monthly market numbers. Visit my weekly blog at www.klugproperties.com/blog for weekly news and happenings in our valley. 

Chris Klug

Share:
Categories: Aspen Real Estate

Categories

Art
BBQ
CEO

Topics

$10 Million Dollar Sales 10 Million Dollar Sale 1110 E. Waters Ave 120 Red Mountain Road 1200 Kessler Drive 1417 Sierra Vista 15 Placer Lane 1581 Wood Road 185 Popcorn Lane 2014 sales recap 2nd Quarter Market Update 321 Oak Lane 47 Bennet Court 511 Edgewood Ln. 5point Film 768 Hunter Creek Road Absolute Auction ACES Adventure ale house Anaconda sculpture Apres apresmusicfestival Apresski April 2010 Market Art Art Events Aspen Aspen Activities Aspen Air Port Aspen Aspen CORE West End Aspen Club And Spa Aspen Condos Aspen Core is strong market Aspen Highlands Market Aspen Institute Aspen local swim spots Aspen Market Aspen Mountain Aspen Music Festival Aspen Powder Day Aspen Real Esate Aspen Real Estate Aspen Real Estate Transactions Aspen Sales Aspen Santa Fe Ballet Aspen Square Hotel Aspen Square Update Aspen Villas C-2 aspenrealestate Aspensnowmass August Real Estate Ballet Banked Slalom Race Bauhaus movement Belly Up Bicycledecorating Big Air Billionaire Buys in Aspen Bird Watching boogiebuddyrace Bronco Riding Buttermilk k9 Uphill Buy Now in Aspen Buyer's Have Urgency Buyer's Market Buyer's Market Cemetery Lane Market Chocolatebar cider CiderMass Climate Change closing day Concert Copper to Aspen cross-country skiing Culture DJ Donovan Frankenreiter Down Valley Real Estate Down Valley Tour of Homes Downvalleyrealestate Drive Experience Ed Harrold End of the Summer Environmental Events extended ski season Fall Favorite Aspen Escapes Film Festival Fire works First Snow flyfishingfilmfestival Food & Wine Aspen Full Moon Grand Tasting Grand Traverse Happy Easter Happy Fourth of July Happy Gay Ski Week Happy Passover Harvest Party Herbert Bayer Highlands Closing Party Hiking History holidays Ice Skating internationalrealty Inventory is down January 2015 Market Update January Real Estate Activity Jazz Aspen Jazz Aspen/Snowmass Jeremy Swanson Photography Kick Aspen klugproperties Lack of Inventory Lamborghiniurus Laugh Lead With Love Leadville100 Limelight Hotel Snowmass Lissa Ballinger Live Music Living Aspen local events Lots of activity Luxury Properties Luxury Real Estate Mammoth Festival March Madness MArdi Gras Market Analysis Market is looking up Market Update Maroon Creek May 2015 Numbers Mind Body Athlete missouri heights MLK Motoring Classic mountain biking Museum Music New Construction in Snowmass New Listing at Aspen Square New Listing at Starwood New York Timess Nile Thompson Notable Sales Off Season Off-Season One Snowmass Open House Open House at Ashcroft parade Paulson Buys Home in Aspen Pent House Sale Pent House Sold Pitkin County Sales Powder Power of Four President Presidents Day Prices are Up Properties Not Moving Pub Crawl Real Estate Transactions Reasons to Buy Recent Sales Recreational Red Mountain Residents at Viceroy Snowmass Resort Town Restaurants Ride for the Pass River Front Robert Couturier Sales Are Up SchneeTag Season Ending September in Aspen Sinclair Road Ski Ski Party Ski Town Skiing Sky Residences Snow Snow Sports Snowamss Balloon Festival Snowmass Snowmass Base Village Snowmass Real Estate Snowmass Rodeo Snowmass SeptemberFest Snowmass Viceroy Sales Snowmass Village Snowmass Wine Festival snowmassrealestate Sold Properties Spring Jam in Aspen Spring Skiing spring tour Stage 3 Pro Challenge Starwood Properties stingcheeseincident Strong Aspen Market Strong First Quarter Strong Market Strong Market in Aspen Stronger prices Sumer 2019 Summer Hikes & Bike Rides Summer in Aspen summer swimming holes Summer2019 Susan Komen Tedeschi Trucks Band Ten Million Dollar Properties The Gant The Little Nell The String Cheese Incident Time Travel Tours trail running travel channel treats Umphery's McGee USA Pro Challenge W Aspen Weekends in Aspen West End Winter X Games Winterskol Woodrun Xavier Rudd YTD Sales Volume
Chris Klug Aspen Real Estate Broker Headshot Klug Properties Tag Line

Real Estate Website Design, Development and Optimization by Organic Return