Our market statistics reveal the Aspen single family home market continues to technically be a buyer's market, although with our unique valley (home prices varying from $300k-$100M+) it is not so easily defined. Market trends are calculated by measuring the current rate of sales versus the amount of available inventory. In resort markets like Aspen and Snowmass Village, where we experience large price fluctuations and fewer total properties, the standard rules often do not apply. In typical markets, less than 6-months of inventory would signal a buyer’s market, but in a luxury resort market that delineation is often extended to 12 or 18 months.
After getting his broker's license in 1999, he worked with Bill Stirling at Stirling Homes, Inc. and 16 years later they reunite. Zach returns with a broad spectrum of experience from across the country to enhance our Stirling Peak team. Closing several hundred transactions and overseeing more than 2,000 office transactions, he is a seasoned and accomplished professional broker.
Read Zach's full profile here.
Please join us for a tour of luxury properties!
August 4th 11-2pm
LUNCH | DESSERT| GIVAWAYS
STAR MESA RANCH
1525 Star Mesa Drive
77 acre premier estate - main residence, caretaker & guest homes, fishing cabin
$25,000,000 – MLS# 140086
Dale Potvin 970.948.4001
Layne Shea 970.379.4781
WHITE STAR ESTATE
141 MEADOWLARK LANE
House, guesthouse, caretaker unit on 14 acres with sweeping views
$8.900,000 – MLS# 136548
Matthew Holstein 970. 948.6868
ASPEN SNOWMASS SOTHEBY’S
The trend continues! For the first half of 2015, the Aspen real estate market has paced ahead of the previous year’s mark. This is the sixth year in a row we have seen our numbers outperform the previous year—a powerful sign for the Aspen market. We are seeing higher buyer confidence and an incredible demand for properties, especially in the downtown core. As local statistician and market expert, Andrew Ernemann, states: “All in all it’s an exciting time to participate in the Aspen/Snowmass real estate market; buyers are letting emotions guide them more than in years past and sellers are finding an increasingly healthy market in neighborhoods where there was little activity until recently."
Below are a few stats about our niche market in Aspen.
PUBLIC OPEN HOUSE TOUR
JULY 13th 11-2pm
LUNCH | DESSERT| GIVEAWAYS
Please join us for a day of touring gorgeous and unique properties in Missouri Heights. Lunch will be served at the Ranch at Coulter Creek, dessert at the Majestic Colorado Ranch and prizes for attendees that visit all six properties. Feel free to call us at 970.920.9233 if you have any questions.
RANCH AT COULTER CREEK
1003 Cattle Creek
5 bedroom/4.5 bath NEW 5,300 sq ft home
10 acres in secure and private community
$2,175,000 – MLS#138583
Jay Wright 970.948.3584
Dawnette Smith 970.618.1422
We finished 2014 strong, with 747 transactions in Pitkin County and an increase in total sales volume of 23%.
2015 has started off well, with the best January numbers we've seen since the recession. The sales volume was up over 300% over last year, and the number of transactions was down about 40% which means luxury properties are being sold and indicates low inventory as well.
Aspen led the pace with 27 of the 78 total transactions in Pitkin County with an average residential price per square foot at $1405 and the average price for single family homes just below $7 million.
Most people think about third-world countries and poverty when Habitat for Humanity is mentioned. Or they recall an incredible piece of used furniture they bought at the ReStore in Glenwood Springs. The reality is Habitat for Humanity is changing the lives of families that live right here in the Roaring Fork Valley.
Continued, steady growth and tepid reclamation are the themes for our valley’s third quarter real estate market. As we have been accustomed to in quarters past, Aspen’s appreciation in pricing and price per square foot leads the upper valley. It is good, however, to see that Old Snowmass, Woody Creek, and Basalt are up significantly over last year as well, and showing a clear rebound.
Within the Aspen market, the West End sets the pace, as there have already been 18 closings with four more under-contract so far this year. There are still 14 active listings in the West End, but listing agents have been exclaiming about the number of showings, even in what is often a softer period in the fall. 2013 slumped a bit, as compared to 2012, but the 2014 statistics are very encouraging. There have already been a number of bidding wars on West End listings. This is a strong sign of more active, confident buyers in abundance.
Overall the Aspen real estate market is up over summer 2013 and continuing at a steady pace. It is appreciating in all sectors of the greater Aspen area discussed in this report - the Downtown Core by 10%, the West End by nearly 30% and Red Mountain by almost 50%. This signifies a good market for sellers, as prices trend towards pre-recession values. In addition, inventory scarcity in the coveted West End has created a dynamic where buyers are more willing to pay a higher premium for these properties. With the busy winter season approaching, and the current market condition, it is a prime time to list your Aspen home with Stirling Peak Properties.
Please contact us to discuss listing your property or if you have any questions.