One Aspen<\/a>, a new-build project located at the base of Aspen Mountain will feature 14 townhouses finished with Colorado stone, rich millwork, expansive picture windows and extensive metal detailing. The units range from 4,067sf to 5,772sf with prices between US$10 million and US$16 million.<\/p>\nFor single-family homes, properties on Willoughby Way at the base of Red Mountain, also known locally as \u201cBillionaire\u2019s Row\u201d, command the highest prices in Aspen and offer large lots and often upwards of 8,000 to 15,000sf of\u00a0finished space with views of Aspen, the four ski areas and Mount Sopris. Properties located in Aspen core and in the West End are also popular. Sotheby\u2019s Realty is currently marketing a three-bedroom property on the corner of Francis and Fifth Street in Aspen\u2019s West End. The home features views of Smuggler Mountain, Aspen Mountain and Shadow Mountain and is listed for US$5.75 million.<\/p>\n
Market Trends <\/strong><\/p>\n\nHousing prices increased year-on-year for the fifth consecutive quarter in the second quarter of 2015. The average price per square foot has also increased to US$1,377, the highest it has been in a decade. In the luxury market, which comprises the top 10 percent of all sales, the average price per square foot is now US$1,946 with an average sales price of US$14,758,333.<\/li>\n \u00a0In the first quarter of 2015, the number of sales expanded 16.7 percent to 56 percent and inventory fell 22.1 percent from the prior year quarter. \u201cThis combination means that the market is moving about 33.3 percent faster,\u201d said Jonathan Miller, president and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm.<\/li>\n By the second quarter of 2015, rising prices had pulled in additional inventory. There were 440 listings up 27.5 percent from the prior year quarter. With the rise in sales and larger increase in the number of listings, the pace of the market eased.<\/li>\n<\/ul>\n\n
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Elk Mountain Lodge<\/p>\n<\/div>\n
This year, in addition to rising prices, reports indicate low inventory (down 22.6 percent from last year) and that buyers are looking to buy more space. The average size of sold homes increased 18.5 percent to 3,015sf compared with the same period last year. As Aspen sale prices continue their steady upward march and buyers look to purchase bigger homes, some prospective investors may look to the nearby ski village of Snowmass for more reasonable prices per square foot (US$909 per square foot) as it is likely that low inventory and improved market confidence will continue. \u201cI expect the prices to continue to rise in the future,\u201d says Sotheby\u2019s International Real Estate broker Gary Feldman. \u201cBecause of Aspen\u2019s stringent land-use code which limits real estate growth to about two percent a year, Aspen real estate is a scarce commodity pursued by the world\u2019s wealthiest investors.\u201d<\/p>\n
Aspen at a glance<\/strong><\/p>\n\nPermanent population: 5914<\/li>\n Average snowfall: 7.62 metres<\/li>\n Winter temperature: -18\u00b0c to 0\u00b0c<\/li>\n Closest airport: Pitkin County airport Sardy field (ASE)<\/li>\n<\/ul>\nThis story was first published in Palace Magazine<\/em><\/p>\n<\/p><\/div>\nSource link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"This West End home offers mountain views and easy access to town Located three hours from Denver, Colorado, Aspen is America\u2019s most famous ski resort. The mountain town offers premier ski trails and year-round alpine adventures, but is equally famous for its sprawling celebrity mansions and some of the country\u2019s most expensive real estate. After prices and sales volumes plummeted during the recession\u2014 according to Knight Frank\u2019s Global Ski Price Index, luxury prices in Aspen hit US$2,694 per square foot […]<\/p>\n","protected":false},"author":1,"featured_media":31811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[176,185],"yoast_head":"\n
Property investment in Aspen, Colorado: Purchasing a home in the famous American ski resorts<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n