According to the Aspen Board of Realtors, the Aspen Central Core is bounded by Aspen Street on the west, the base of Aspen Mountain on the south, and the Roaring Fork River on the north and east. It is the most densely populated part of Aspen and home to most of the shops, restaurants, and hotels. It is also home to some of the most expensive real estate in the world. Quite often the price per square foot is really close to what one would find in Manhattan.
As of the writing of this blog post, October 19, 2011, twelve Aspen homes have sold for in excess of $10M. Consequently, there stands a good chance that the previous record of fifteen such sales in one year could fall this year. There are currently twenty-two single family homes and 142 condos/townhomes listed for sale in the Aspen Central Core. The price per square foot ranges dramatically depending on many variables such as proximity to the Silver Queen Gondola, proximity to the Roaring Fork River, views, age, condition, amenities, and whether they come furnished. The average asking price per square foot for Aspen Central Core single family homes is currently $1,428 whereas for condos/townhomes it is $1,791. As usual, there is a disconnect between asking and receiving. The current average price per square foot for closed transactions this year is $1,130 for single family homes and $1,309 for condos/townhomes.
Even though the Aspen Central Core market has bottomed out and is now beginning to rise again, the market is still considered a strong buyer's market. There are still some extraordinary deals available. Aspen Central Core prices are roughly 30% off or their record setting highs exhibited in the 2006/2007 glory days. Consequently, when one finds a value that has already been reduced substantially from its original price combined with a highly motivated seller, it can be ripe for the picking. The trick to finding the best deals is working with a savvy Realtor that knows the market. I am such a Realtor, and I would be more than happy to work with you to find just the right property that matches your requirements and desires at the best possible price. Please do not hesitate to give me a call at 970 309 3620 or drop me an email at jgausnell@RoaringForkRealty.com.