Buyer interest is back…
Spring is in full swing here in the rockies. The bumps are slushy and so are some of my favorite hiking and biking trails. There’s nothing like taking a couple runs in the morning then sneaking in a hike, a bike or nine holes in the afternoon! As we bid farewell to another amazing ski season, I am filled with excitement for warmer temps and the Aspen’s summer season ahead. And the buyers are too.
Property values in Aspen and throughout the Roaring Fork Valley have shown sustained growth across a variety of market segments, namely Aspen condos and Basalt single family homes leading the charge.
As of today, there are 172 active listings in Aspen, Colorado, 78 of which are single family homes and 75 are condos or townhomes. Of the condos/townhomes, the average price is just above $6.5 million, with a median price per square foot more than $3,500. As for the single family homes, the listing price per square foot is hovering just below $3,700 per foot.
Comparing the first quarter of this year with Q1 2023, the number of closings in Aspen are up over 20% with 52 closings since new year’s and the average price per square foot for all property types increasing more than 12%, $2,755 per square foot to $3,086 per square foot from last year.
In Basalt, there are currently 26 single family homes listed averaging nearly $1000 per square foot! In Q1 of 2023, the 15 homes that sold in basalt averaged $782 per foot, that’s more than a 25% increase! Despite that, Basalt remains a great value alternative to Aspen and an incredible investment as well.
There is no doubt that Aspen, Basalt and the Roaring Fork Valley remains a highly desirable place to live, work, play and own real estate. With transactions increasing and more listings coming to market in anticipation of the summer season this spring could be the time to strike.
Take advantage of today’s opportunities before there are even more buyers crowding the market and driving prices higher. As evidenced from the statistics above, waiting will only cost you more in the long run.
Call me today to discuss the market and let’s find your dream home in Aspen and the Roaring Fork Valley.
