ASPEN, Colo. — The lowest-priced single-family home on the market in Aspen is listed for $2,295,000.
While most housing markets in the rest of the country continue to struggle with partial recovery and certain foreclosures – and sales at many other luxury ski resorts are still sluggish – Aspen has forged its own orbit, “The Wall Street Journal.” Over the past year, Aspen has seen an astounding number of transactions with over 137 single family home sales and 226 condos representing totals over $909,986,212.
The average home price in the mountain town has increased over the past several years, to $7.38 million in 2014 from $5.4 million in 2006, according to multiple-listings data. The median price for single-family homes is now the highest in the country at $4.6 million, according to San Francisco-based Altos Research, surpassing the Hamptons, Beverly Hills & Palm Beach.
“Aspen is like a small Manhattan,” says Altunc Kumova, a financial services executive from Isatbul, Turkey, who bought a fractional condo at The Little Nell. “You can find almost all upscale brands for shopping and restaurants are excellent. Apres-ski in Aspen is very glamorous.”
Sales of luxury Aspen estates – the sorts of over-the-top places with accent gold platted walls, outdoor heated infinity pools and intrinsic views have remained remarkably healthy, thanks in part to foreign buyers. Of the 35 real-estate transactions recorded by Pitkin County for a certain week last ski season, several were buyers from abroad, including (7) Australians and other buyers from Turkey, Israel and Hong Kong.
Last month, a home in the West Aspen neighborhood with an great mountain access, basketball court, and outdoor hot tub overlooking a waterfall sold for over $10m.
At the door front of Aspen is the quintessential town of Snowmass Village which is arguably the BEST skiing mountain within the Aspen area. One such property that has seen the flurry of international buyers is the Viceroy Hotel & Residence Club. With over 71 transactions during the last year and over $50m in sales, it has extended the developers plan for Phase II of the Residence Club which is set to open sometime in 2016. Over 70% of those buyers are said to be of International decent.
Analysts point to numerous reasons why Aspen has held up so well. A small market where only 13% of land is able to be developed because of zoning laws and the mountainous landscape, it never suffered the over development now plaguing other areas. Aspen’s distance from a major city and pricey air service help to keep away day tourists.
With celebrity regulars like Jack Nicholson, Mariah Carey, and Goldie Hawn, Aspen is an anointed stop on the international jet-set circuit, a place where the wealthy come to play and spend. Increasingly, they are putting down roots. It’s boutique, it’s luxurious, it’s fashionable, elegant & majestic. It’s a place where the stars & elite come to play…
OTHER NEW DEVELOPMENTS ARE PLANNED IN SNOWMASS VILLAGE DURING THE COMING MONTHS
- Building on the success of the Viceroy Snowmass Hotel & Residences, Related will introduce the second phase adding new hotel-condominium residences, fitness center, owner’s lounge, ski valet, and game room slated to open Christmas 2016. Prices coming soon…
- Aspen Skiing Company (Crown Family), will be rolling out its second Limelight Hotel (102 key hotel/18 residences), with a new restaurant and bar and a resort pool for everyone to enjoy in the heart of Base Village.
- The exclusive Snowmass Mountain Club will be situated adjacent to the gondola and will provide members and their guests with unique skiing, recreational, and dining privileges.
- Sunrise Company, the owner of the Dancing Bear in Aspen, is introducing a collection of 41 fractional and wholly owned Private Residences. A new rooftop amenity will be the perfect place to relax after a hard day on the slopes.
Another property to consider is the boutique Aspen Penthouse located in the heart of the Aspen Core at 625 E. Hyman Avenue:
When one speaks of “irreplaceable” the Muse Building is what they mean. Never again will a downtown Aspen property comprise all of the attributes as those found here. Adorned with exquisite finishes & furnishings, the practical & inviting floor plan flows from opulent living spaces to an inviting roof top deck and back again, all while solely focused on enhancing the sublime living experience through meticulous attention to detail. Yes, there are other Aspen penthouses, but there is nothing like the Muse Penthouse. 5,053 livable heated square feet with 4 bedrooms and 4.5 plus 4,451 square feet of decks & patios / Rooftop deck with heated pool and unobstructed views of Aspen Mountain / Private patio & deck on the main level capturing the sights & sounds of downtown / The latest Savant technology for controlling security, climate, window coverings, lights, audio and video / The finest finishes of mahogany windows & doors; fumed oak trim, walls & paneling; white oak floors; Diamond plaster walls; custom lacquered cabinetry; Waterworks fixtures; unique stone & tile. Price: $16.7m
Contact Erik Cavarra today for more information: 970.618.9733 ecavarra@alpineproperty.com or www.realestate-aspensnowmass.com.
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