Happy springtime from Aspen! It's beautiful here now. After nearly four feet of snow the past weeks in Aspen Snowmass, the conditions are awesome! Lots of fun spring break activities taking place this week - get ready to party! March Madness has arrived in the Aspen real estate market! Average sold price per sq. ft. in the downtown Aspen core is up almost $500 a sq. ft. YTD compared to same time last year. Every number is stronger in Aspen in 2015 compared to 2014. Sold volume in Aspen increased 92% from $77,164,375 to $148,387,000 through February 2015. Inventory of Aspen condos is down 30% through February 2015, while single family home inventory is down 10%. Overall inventory in Aspen including vacant lot listings is down about 20%. Aspen central core condo sales volume increased 170% from $23,559,87 in 2014 to $63,677,000 through February 2015. I put three Aspen central core condos under contract the past weeks, two of which weren't even listed in MLS; that's the advantage of working with a broker that's focused on the market every day, and engaged with the brokerage community.
It's a different story in Snowmass with sales volume down 32% in 2015. There were 17 condo sales in Snowmass Village through February 2014 compared to 10 in 2015 and 23 total sales in 2014 compared to 13 in 2015. Inventory is actually up in Snowmass Village 10% from 233 listings in February 2014 to 259 today. DOM in Snowmass Village is up 131% while price per sq. ft. increased about 6% and average sold price went up 8%. The discount in Snowmass compared to Aspen has never been bigger!
Click here for more YTD Market Information
I'm hosting an Apres Ski Party this Thursday, March 12 from 3-6 pm at 460 Thunderbowl with a slopeside bonfire and live music by Steve Koch on the guitar. We will be serving cowboy chili and gluwein. I hope you can join us!
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460 Thunderbowl at Aspen Highlands Apres Ski Party Invite March 12, 2015, 3-6 pm[/caption]
Please call or email anytime with questions. I'm here full-time and ready to help you. Enjoy springtime. I hope to see you in the mountains soon!
Chris Klug
I attended an open house this morning for a unit that was listed over the 4th of July weekend for $995,000. There are currently five other listings in the complex between $1,795,000 and $1,995,000. While the unit is tired from rental activity and somewhat original, it's priced to sell. The open house received tremendous traffic. Due to the heightened interesest the seller increased the price a day after listing it - an interesting strategy. While I don't agree with this tactic, I was encouraged by today's experience and the overall Pitkin County real estate market. While the unit was listed lower than other comparable units, it's clear buyers are shopping and seeking real value. With the sale of Bob Bowden's McLain Flats home last week for $24.5 million, it's evident luxury buyers are looking and buying too. Sellers, list your property to reflect today's market and there are buyer's out there! Call me for more information and to discuss how I can help you find value in today's local real estate market!
CK
