The Aspen Real Estate single family market continues a consistent market trend and activity with seven single family sales in January.  This is down from a high flying December but stacks up evenly relative to the seven sales in January of 2012 .  Two of these sales were deed restricted units sold in the North Forty, but two of the sold single family units were over $5,000,000 one of which sold for $15,000,000.

Of particular note was 223 West Hallam in Aspen’s highly desirable West End.  This home sold for $4,300,000 and sold for it’s redevelopment potential as well as a lot split.  The home itself was built in 1886 (that is not a typo!), was not remodeled recently, and was in average condition.  However the lot split situation was very attractive.

768 Hunter Creek Road took the top spot this month selling for $15,000,000 even.   It was a spectacular custom home in Red Mountain Ranch that showcased world class views surrounded by fantastic material choices including Italian tile, dry stacked stone, mahogany windows and a state of the art geothermal heating and cooling system.   The interesting part about this sale was the price per square foot.  The home was 8400 square feet and it sold for $1781 a square foot.  This is a very strong number for Red Mountain given the total square footage…

The other sale over $5,000,000 was interesting to note as well.  720 Willoughby Way was built in 1965 and had a liveable 3 bed room 3 bath 2500 square foot home on it that sold last month for $5,300,000. This was functionally a lot sale in Pitkin Green on Red Mountain.

As to the affordable housing units 34 Tumbledown and 90 Totterdown traded hands for $656,500 and $856,800 respectively.

Price per square foot on the free market units ranged from a low of $798 to a high of $2175 per square foot for 223 West Hallam.

As to a month over month comparison there were 7 sales in January 2012 so we seem to be continuing a good clip in terms of volume and an increase price for the last several months.  The highest single family in the Aspen Real Estate Market last year sold for $6,750,000 versus the $15,000,000 high water mark this year.

As far as the Aspen Real Estate market goes for condominiums there is a bit of a down turn with eight sold this month relative to eleven last year.  Sold prices ranged from $365,000 for a studio on Bleeker in the West End to $2,700,000 for a lovely 3 bedroom 3 bath unit on the East end of the Core at 1006 E Hyman.

Notable sales include a 2 bed 2 bath unit at the Gant that closed for $987,500 as well as a super deal on a fixer half duplex on Mountain Laurel for $1,480,150 that was $630 a square foot!

Price per square foot of the condo/townhome/duplex set ranged from $630 a square foot to $1337 for the aforementioned unit at 1006 E Hyman.

Contact Drew Kitchell for further information on the Aspen Real Estate Market at 970.925.5900

Or click the link for the Aspen MLS