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By Linda Hayes | June 7, 2017 | Home & Real Estate
Six of town's top brokers take Aspen's real estate pulse.
Outdoor spaces are driving demand, says CBMM’s Carrie Wells.
You need only look around to discern that Aspen’s real estate market is inspiring confidence. But for a more, shall we say, professional take, we asked a group of the valley’s bestselling brokers to weigh in. Their insights? New construction, modern design, a central location, and outdoor living spaces are the main factors driving demand. And please, no more log cabins…
PENNEY EVANS CARRUTH, Aspen Snowmass Sotheby’s International Realty
“Just when you think you’ve seen the best, another high-end contemporary home comes on the market with unique taste, style, quality. And this is the product most buyers, regardless of age or demographic, are demanding. A few years ago, our high-end inventory felt stale. Now we are on the cutting edge. I see this trend continuing, not only in the high-end [market] but filtering down to other price points.”
SCOTT DAVIDSON, Aspen Associates Realty
“The core of Aspen, the West End, and Red Mountain should continue to see very good activity, and prices remain strong. A house on Willoughby Way on Red Mountain listed for $36 million is set to close soon. It is modern in style and beautifully done, but the lot would not be considered one of the best lots on that street. Modern architecture and interiors [set it apart].”
DOUG LEIBINGER, The Doug Leibinger Team, Compass
“There have been a dozen properties up and down the valley this year that have gone under contract in less than 60 days. But there is not a lot of new construction available. Of 72 valley properties built so far in 2017, 33 percent are already under contract. In comparison, of the 475 properties built prior to 1990, only 14 percent of those homes are in escrow.”
“Aspen’s real estate market is experiencing an upswing,” says Douglas Elliman’s Joshua Saslove, who represents 1449 Crystal Lake Road, with Robert Trown–designed main and guest houses totaling nine bedrooms, 10 bathrooms, and nearly 15,000 square feet, and with unbeatable views of Independence Pass and Aspen Mountain.
JOSHUA SASLOVE, Douglas Elliman Real Estate
“Aspen’s market is experiencing an upswing in activity that started in the fourth quarter of 2016. Prices are steady, and buyers recognize the value. Buyers will become comfortable with new price-per-square-foot thresholds across all market levels. Properties are consistently closing for over $2,700 per square foot, while some in Aspen’s core are trading for almost double that. I predict this upswing to continue across the board.”
CARRIE WELLS, Coldwell Banker Mason Morse
“I’m seeing an increase in outdoor living spaces, which can include hot tubs, pools, fire elements, and kitchens— some even on rooftops. I’m currently marketing three new homes that have multiple outdoor living areas—some very public and some private—and one that even has an outdoor master shower. My last four transactions involve properties with these outdoor spaces. In one case, the buyer is adding even more outdoor entertaining space, including a full outdoor kitchen.”
LORRIE B. WINNERMAN, Lorrie B. Aspen & Associates
“The current state of the market overall is considerably stronger than last year. We are seeing previously unreached square-foot sales numbers on properties in the Aspen core, the East and West Ends, and Red Mountain. The ‘mountain contemporary’ look is in—and no matter how upscale the log or truss home is, it is considered passé.”
PHOTOGRAPHY COURTESY OF DOUGLAS ELLIMAN REAL ESTATE. OPPOSITE PAGE: PHOTOGRAPHY BY MICHAEL BRANDS/MOUNTAIN
HOME PHOTO (KITCHEN, BATHROOM); STEVE MUNDINGER (FIREPLACE); COURTESY OF DOUGLAS ELLIMAN REAL ESTATE (EXTERIOR)