Klug's Off-Season Aspen Real Estate Report

Posted on April 9, 2011 by Mary Kate

Tomorrow is closing day on Aspen Mountain. Where did the winter go? The off-season approaches in Aspen/Snowmass. Highlands will however stay open another two weeks until Easter Weekend making for some fun spring riding and great access to the backcountry. Don't miss closing day at Aspen Highlands April 24!

The Upper Roaring Fork Valley will become very quiet the next two months after the lifts close. There will be less visitors in town and less showing activity. It's an opportunity for many locals that have worked hard all winter to catch their breath and escape to the desert. Many sellers that did not sell during the busy winter season are faced with less showing traffic until activity picks back up with Food &amp; Wine Weekend June 17-19, 2011. <!--more-->Summer really kicks off with 4th of July and continues through until Aspen Rugger Fest September 15-18, 2011. I think the off-season is a valuable opportunity for buyers. This is still very much a buyers market with some great options and Aspen prices on average thirty-five percent off of the peak of 2007. Sellers that want to sell must price their homes for todays market conditions, make sure they are presentable, and marketed aggressively. I listed an Aspen Square Condominium last month. It was the best unit at the best price. It went under contract in eighteen days. The competition is tough. There are almost five hundred listings in Aspen today with an absorption rate of about thirty-two months, down from about thirty-nine months a year ago and an average of four hundred nine days on market in Aspen. Transactions are up and business continues to improve. I believe we're headed in the right direction, but it is still going to take some time.

Following my last real estate report almost all of the properties I highlighted have sold, so pay attention! Here are a few of my favorites. I toured a new listing at 115 Park Avenue in Aspen. Offered for $3,950,000 it's a newly constructed home with views of Aspen Mountain and Smuggler, walking distance to downtown Aspen with four bedrooms 5.5 baths and 3,263 square feet.


Another property that I like is 500 West Smuggler Street in Aspen priced at $2,590,000. Remodeled in 2006 in a prime location in Aspen's West End is this five bedroom, three bath, 3,012 square foot duplex home. It's a funky 1970's ski chalet that just came back on the market. Nineteen homes have sold in Aspen's West End the past year at an average sold price per square foot of about $1,150, making this one of the markets brightest spots

Another property I feel is interesting is 800 Gibson Avenue in Aspen. Previously listed for $5,595,000 it is now listed for $2,995,000. Designed by Zone 4 Architects and built by Jack Wilke this is a contemporary four bedroom four bath, 3,414 square foot home. That is $875 per square foot!

One more that I think is worth consideration is 1180 Black Birch Drive listed at $3,995,000. It's a five bedroom, five and a half bath, 4,382 square foot mountain home close to the Roaring Fork River and the Rio Grand Trail.

I know where the best places are on and off the mountain and where the best real estate deals are in town. Whatever your price range I can help you find the right home in Aspen and Snowmass. I'm here all off-season anxiously awaiting the arrival of my daughter and focusing my energies on my real estate business. Please call or email with any Roaring Fork real estate questions. I look forward to helping you. Thanks for keeping me in mind. Happy springtime!


Tags: closing day


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