The Strength of the Aspen Real Estate Market

Posted on March 4, 2011 by Mary Kate

Interesting article this morning in the Wall Street Journal on the strength of the Aspen Real Estate Market. I encourage you to check it out. I believe the Aspen real estate market is slowly improving and the bottom is behind us. Dollar volume in Aspen was in fact up seventeen percent in 2010 versus 2009. <!--more-->While that increase accounts for some bonanza deals in 2010, single family home sales as well as multi-family home sales including condominiums are also on the rise. However the article suggests that Aspen is immune from the economic downturn (which we are not), or things are rebounding much faster. I think the article focuses on some very expensive properties in Aspen and some very deep pocketed buyers. I don't believe the article tells the complete story of real estate activity and current prices in Aspen. There have been some desperation sales the past year. Some Aspen properties are still selling today thirty to forty percent below peak numbers of 2007. It’s a good time to be a buyer in Aspen. There are some great options today for buyers.

I believe Aspen's natural surrounding, culture, amazing selection of restaurants, and recreational opportunities in both summer and winter make it unique. I've traveled all over the world on my snowboard the past twenty years visiting ski/board towns. I've never seen a town of 6,500 local residents with such cultural opportunities. Aspen is still my favorite. The geographic constraints of the upper Roaring Fork Valley and tough zoning rules and an emphasis on open space have kept the upper valley growth in check and helped lessen the impact of the housing crash in the upper valley. The degree of impact of the housing bubble can certainly be seen further down valley. That being said there are still some amazing deals available in Aspen; I know where they are and would love to share them with you.

I bring the same positive attitude, determination and dedication that made me an Olympic Champion to my real estate clients. When real estate becomes a priority in your life I hope you will think of me. I take the responsibility of being your broker seriously. I hope to see you back in Aspen soon. I'll show you where the best spots are on and off the mountain!

CK

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