Posted on July 2, 2015 by Mary Kate
Happy 4th of July from Aspen! The weather is perfect and town is packed. We love it! There are a ton of fun events going on this weekend. Have a safe and fun-filled weekend! Happy birthday U.S.A.
We are already half way through 2015. Here is a brief overview of the Aspen real estate market.Properties in the Aspen core are currently trading at $1,410 price per sq. ft. with an average sold price at $2,567,333. In 2014, Aspen core properties were trading at $1,299 price per sq. ft. with an average sold price at $2,832,244. 2015 Aspen sold volume is up at $440,317,800 compared to $420,187,092 in 2014. The number of transactions in 2015 is up at 132 compared to 116 in 2014. Snowmass properties are currently trading at $779 price per sq. ft. compared to $666 in 2014. The Snowmass average sold price in 2015 is $1,692,867 compared to $1,265,906 in 2014. In 2015, there have been 73 transactions compared to 80 in 2014. Properties are trading at a higher price per sq. ft., and sold volume is up. Inventory overall is down about 9.28% in Aspen through the last day of May 2015 compared to May 2014. In Snowmass and Basalt inventory is up about 3.5% and about 20% in Basalt. Overall pending sales have increased almost 40% today versus June 2014 in Aspen, about the same in Snowmass and twice as many sales pending in Basalt compared to May 2014. I expect inventory to continue to decrease and prices to rise through 2015.
Check out my full report below. Please call me for questions. I am here full time and ready to help you!
Click here to view the 2nd Quarter Marketing Report!
Happy Fourth of July!
Posted on January 3, 2012 by Mary Kate
Happy New Year! I hope you enjoyed a great holiday. It was a fun one here in Aspen. Nice to see our town full again. We could use some more snow, but Aspen Skiing Co. is doing an awesome job keeping the mountain in good shape. We're a lot better off than most other Colorado Resorts and the rest of the country. Keep doing your snow dance, more will come soon.
The front page of the Aspen Times today read, Aspen Real Estate sales flat compared with 2010. The article suggests as in our financial markets that nothing has changed in the past year. I think it's misleading. In Aspen there were 161 transactions (excluding fractional and deed restricted sales) in 2010 compared to 190 in 2011. Total dollar volume rose from $605,045,803 in 2010 to $731,843,037 in 2011, an 18% increase. Average sale price increased from $3,758,048 in 2010 to $3,851,805 in 2011 and average days on market decreased from 370 days to 358 days. I continue to believe we're headed in the right direction. I think a bottom was established in 2011 and we're slowly on the road to recovery. I believe it will be slow and steady, but that 2012 will prove better than 2011.
If you are a buyer there are some great choices in all price categories and some good values. In Aspen we are about 30% off of the peak of fourth quarter 2007, early 2008. Here are a few of my favorites: Gant Unit C-304 priced at $1,700,000, top floor, vaulted ceilings, great eastern light with four bedrooms, three bathrooms. I also like Sagewood Unit 10, a two bedroom, one bath, 822 square foot unit in Aspen's West End with off street parking for $575,000. In the same area there are six listings at Villas of Aspen from $1,495,000 to $2,700,000. I particularly like Villas of Aspen Unit 18, a three bedroom, two bath, 2,030 square foot townhouse with main level deck with adjacent common open space and lower level walk-out patio that enjoys the sounds of the Roaring Fork River and south western views of Highlands and Tiehack mountains. I sold the last unit at Villas of Aspen, unit 22, for $1,275,000.
Der Berghof Unit 8 priced at $1,375,000 is an interesting project. The interior is original and needs to be redone. The building is getting a complete exterior remodel beginning this spring. Unit 8 will add an additional level and six hundred more square feet, making it a 1,400 square foot two bedroom, three bath with office den and two balconies facing south with Aspen Mtn. views. In light of recent sales of Unit 4 at Aspen West Condos across the street for $3,595,000 and unit 1 for $2,100,000, it makes the Der Berghof project look like there's some upside. You'd be out of your unit for a year during construction and still have to redo the inside of the unit, but I think you could be all in for under two million with essentially a brand new downtown core condo with two balconies staring at Aspen Mtn.
Let me know if you have questions about these or any other properties. There are lots of exciting events in Aspen this winter including Winterskol January 12-15 and Winter X Games 16 January 26-29. Hope to see you back in Aspen soon! Call or email anytime for a free analysis of your property's value or to discuss the local Aspen real estate market in more detail! I wish you a happy and prosperous 2012!
Posted on December 26, 2010 by Mary Kate