It was a big month for Aspen Real Estate this month with a total of 21 listings closed this October.
There were 15 Single family homes, 10 of which were above $4,000,000. The most expensive was a lovely home on Placer Lane (Red Mountain) that sold for $15,500,000. This was one of two homes over $10,000,000 that sold this month. The other home that sold for over $10,000,000 was 1470 Red Butte Drive. At $1550 per square foot this home sets the bar quite high given it’s West Aspen Location, but it was truly fantastic and right on the river.
There were two Bank owned sales this month one in the Christiana that was a three bedroom two bath for $950,000, the other was development opportunity on 5 acres in West Buttermilk that sold for $1,650,000.
In the condo market there were 6 sales – interestingly a 2 bed 2 bath unit at the Gant went for $1,400,000 which is a strong number for this market. It was a top floor corner unit in building K and it went for $1323 per square foot. Of the nine Gant units sold this year this was the second highest price per square foot.
Activity has picked up with 7 or 8 lots under contract by local developers indicating that the money that is in the know appears to be coming off the sidelines.
In sharp contrast there were 13 total closings in October 2011, 5 of which were condos, in the single family segment in 2011 The highest dollar amount was $6,675,000. So there was a 61.5 % increase in the year over year market numbers.
It will be interesting to see how the market develops over the holidays but preliminary activity looks really good…
If you are searching for Aspen Real Estate contact Drew Kitchell with McKinley Sales Real Estate at 970.925.5900
Search the entire Aspen MLS at SearchAspenRealEstate.com