The Aspen Real Estate Market faired fairly well in September of 2012.

In the single family sector 15 homes sold with prices ranging from $920,000 for an affordable housing unit in the North 40 all the way up to $17,250,000 for a 7875 Sq ft home on Reds Road on Red Mountain.  This is an improvement from September 2011’s 13 homes.

Interestingly enough 14 Condo units sold with a low price for a studio of $200,000 to a high for a lovely Galena Place Townhome for $6,600,000.  Included in the tally were 2 units at the Gant, both were two bedrooms that went slightly over and slightly under $1,000,000.  This is a dramatic improvement over October 2011 during which only 6 sold.

Four Aspen Half Duplexes sold in September 2012 ranging from $1,495,000 to $3,500,000 versus zero sold in the same market segment last year.

Buyers tend to ask if the market is down my response is “yes it is substantially off the pre recession highs, however we are seeing a lot of activity and prices may have reached their lows or close to it”

Generally speaking prices are fairly formulaic…  $1000 per square foot on the average.  Less if it is not remodeled or in an older complex.  More if it is in a very desirable complex and or new construction.  A few homes in the West End have been going in the vicinity of $1500 per square foot

The downvalley market is very strong with very good activity in the Basalt Real Estate, 19 of 23 listings under $500,000 are under contract.  Could the tide sweep upvalley?  We shall see, more soon.

Contact Drew Kitchell for all your Aspen Real Estate needs at 970-379-7777.