Aspen Market – Report July 2020 – the Great Urban Exodus

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6 Bedrooms / 7 Full Baths / 2 Half Baths / 7,489 SF
$4,299,000 — EXTREMELY well priced at $575./sq ft
Extremely well priced relative to Aspen proper.  The most recent highest Sale in Aspen was $27,000,000 or $3090/sq ft for a 7-bedroom home on Willoughby Way built in 2015.
Aspen 072020

 

The real estate market is booming! Demand has reached unprecedented levels as people escape the big cities, take advantage of record low interest rates and opt to work remotely. This was the biggest July our market has ever seen by far with 42 closings in Aspen and Snowmass, a 100% increase compared to last July, and dollar volume increased 215%. July sales for Aspen and Snowmass combined are illustrated below.

The local realtor’s email contains tons more information and data on her real estate market.  Her email was forwarded to me from my project who lives and works in the Aspen area.  If I could get $3090/sq ft for my house I’d get $11,124,000!  (minus realtor commissions).

Time to reread Jane Jacobs’ Life and Death of American Cities.