Spring has sprung, the mountains have closed and locals are heading to more tropical locales (hello Cabo!) for some rest and relaxation. We’ve officially reached the offseason in Aspen, so it’s the perfect time to update you on the latest trends in the real estate market out here.
January 2024 started off at a strong clip with 13 closed sales above $10 million but as we dig into the numbers there’s much more to share. Let’s have a look:
The overall picture looks similar to our last update in November 2023 as the analysis shows a market slightly favoring buyers. The median list price has dropped $1,200,000 since then to $18.2 million and price per square foot is down over $300 to $3,551 which reflects a different mix of inventory that could be compelling to those looking to buy. That said, Q1 sales for Aspen are up 30% in dollar volume and 40% in unit sales compared to the first quarter of 2023 and properties are moving for close to their asking prices.
Click here for the complete report including category breakdowns!