Aspen real estate statistics for the month of May 2015 show some interesting
recent trends.  Sales of properties between $1,500,000 and $1,999,999 dropped
over 30% from last year while homes between $6,000,000 and $6,999,999 went
up 300%.  Homes between $16,999,999 and $19,999,999 also went up 300%
from 1 in 2014 to 4 in the past 12 months.  The trend for the lower-end sector
also went up to the tune of 54.9%.  So why did several of the pricing sectors
decline?  Lack of supply.  Properties priced under $4,000,000 have seen a
rapid absorption recently.  The majority of properties priced under $4,000,000
that show nicely sell quickly.  If you’re looking for a single family home between
$2,000,000 and $4,000,000 as of today there are only 21 to choose from – in
the entire Aspen zip code of 81611.For the month of May the highest priced sale was on Popcorn Lane (one of
my favorite streets) which sold for $8,600,000.  This beautiful home was on the
market for only 121 days and sold for 96% of the list price.  It had a European
flair, a guest house, 3 miles from downtown Aspen and in the lovely Morningstar
Community with river frontage for the family to play in.Another sale in May was a home on the Ridge of Red Mountain.  This was a nice
home but it lacked the world-class views most of Red Mountain is famous for.
This property was on the market for over 3 years – a home in Aspen with no views
can be a tough sale.  It finally sold for $1,067 per square foot/$5,600,000.  It was
built in 2002, had 4 bedrooms, 4 full baths, 2 half baths, home theater, hot tub
and two car garage.

A “remodel opportunity” sold in Aspen Highlands for $4,218,000 on May 8, 2015.
It was originally listed for $6,750,000.  What is the price per square foot for a
remodel project?  A bargain price of $593 per sq. ft.  Hopefully the new buyers
have a bus-load of children to fill the 7 bedrooms.  And they can easily walk to
the Aspen schools and Aspen Recreation Center.

A lovely home in Maroon Greens near Buttermilk ski area (just outside of Aspen,
less than 10 minutes by car) sold for $4,100,000 after being on the market 542
days. It sold for 94% of list price – even with no description of the home ever
posted on-line….maybe that is some type creative marketing???

Some might say the Aspen market is too small for statistics and for the most part
I would agree, however this still gives us a place to being the conversation.

If you are looking to buy or sell real estate in the Aspen Area, give us a call.

 

 

 

 

Sold Listings
This Month Year to Date
2015 2014 % Chg 2015 2014 % Chg
0-99,999 7 14 -50.0 43 62 -30.6
100,000-199,999 30 16 87.5 134 104 28.8
200,000-299,999 30 40 -25.0 107 105 1.9
300,000-399,999 23 22 4.5 78 73 6.8
400,000-599,999 40 22 81.8 110 71 54.9
600,000-799,999 8 9 -11.1 39 32 21.9
800,000-999,999 5 5 0.0 12 13 -7.7
1,000,000-1,499,999 9 5 80.0 35 32 9.4
1,500,000-1,999,999 7 7 0.0 25 19 31.6
2,000,000-2,499,999 3 2 50.0 9 10 -10.0
2,500,000-2,999,999 0 3 -100.0 7 18 -61.1
3,000,000-3,499,999 2 2 0.0 6 8 -25.0
3,500,000-3,999,999 1 5 -80.0 10 10 0.0
4,000,000-4,999,999 3 2 50.0 14 12 16.7
5,000,000-5,999,999 2 1 100.0 9 6 50.0
6,000,000-6,999,999 0 0 0.0 4 1 300.0
7,000,000-8,999,999 1 3 -66.7 6 5 20.0
9,000,000-10,999,999 0 1 -100.0 2 2 0.0
11,000,000-12,999,999 0 0 0.0 2 3 -33.3
13,000,000-15,999,999 0 1 -100.0 3 3 0.0
16,000,000-19,999,999 0 1 -100.0 4 1 300.0
20,000,000-24,999,999 0 0 0.0 1 0 N/A
25,000,000+ 0 1 -100.0 0 1 -100.0
Totals 171 162 5.6 660 591 11.7