Here’s what’s happening in our backyard this past week!
SKI Magazine – Aspen Snowmass Named “Resort of the Year”
Aspen Gets the Honors
What makes a resort special? For SKI Magazine the answer lies in a having a variety of amenities including terrain, fun for the whole family, and great apres-ski and nightlife options. This year, Aspen Snowmass checks all the boxes and was named SKI Magazine’s No. 1 ski “resort of the year” in the West.
SKI Magazine unveiled its debut “Resorts of the Year” issue in October, with categories featuring “Best in the West” and “Best in the East.” Smugglers’ Notch in Vermont is ranked the top ski resort of the East.
These two resorts garnered editor and reader praise for offering skiers the best overall vacation experiences, according to a statement from SKI Magazine.
“With its variety of terrain across four resorts, family-friendly offerings and virtually unmatched dining, lodging and apres in the vibrant town of Aspen, Aspen Snowmass delivers the whole package,” SKI Magazine content director Samantha Berman said in the statement. “Add to that the resort management’s forward-thinking attitude toward the environment and its inclusion in the industry-changing Ikon Pass, and we feel that Aspen-Snowmass is the destination generating the most buzz going into this season.”
Great Amenities
The magazine writes, “the four mountains that make up Aspen Snowmass are the gold standard for American skiing. Aspen Mountain, Aspen Highlands, Buttermilk, and Snowmass each have their own character, which is why most skiers visit a different mountain each day of their visit.
The Dumps on Aspen Mountain or the glades beneath Snowmass’s High Alpine Lift are a must when it’s snowing, while the breathtaking descent of Highlands Bowl or the empty, perfect groomers of Tiehack beg for attention when the sky is blue. If the renown nightlife stretches on too long, at least one mountain will have a daily noon groomer on the weekends, keeping the corduroy fresh for those who hit the snooze button too many times.
The world-class ski school can get the kids carving at Buttermilk or Snowmass while Mom and Dad can enjoy the decadent pleasures of top-to-bottom gondola laps or the infamous 2:30 p.m. seating at Cloud 9 Bistro, all before a perfect family rendezvous for dinner in town. ”
Read more at: https://www.skimag.com/ski-resort-life/aspen-snowmass-colorado
Aspen’s Lift One Corridor Taking Shape
The developers of Aspen’s new Lift One Corridor joined together on October 1st to unveil their plans for the new lift, new lodging and amenities along South Aspen Street. They shared their plans with roughly 300 members of the Aspen community at the Limelight Lodge in downtown Aspen.
They stated that the plan is the culmination of more than a year of work by the City of Aspen, the Aspen Skiing Company, Lift One Lodge and Gorsuch Haus. According to the developers, “it is truly a testament to the power of collaboration and couldn’t have been done without the significant participation of the Aspen Historical Society and the generosity of the Dolinsek family.”
The plan highlighted the proposed benefits to the community:
- The Skiers Chalet Lodge will be relocated to Dean Street and remodeled to house the Aspen Ski History Museum and will include skier services run by the Aspen Skiing Company.
- The Skiers Chalet Steakhouse will be moved down the hill along South Aspen Street and reopened as a restaurant.
- The historic bull wheel, one tower and chairs from the original Lift 1 will be renovated and showcased right below the new Lift 1A.
- The park space at Dean Street will be greatly improved and expanded with the addition of Dolinsek Gardens, Lift One Park, and Willoughby Park, including a 60-foot wide greenway between the two Lift One Lodge buildings for summer mountain access.
- 50 public parking spaces, public restrooms, public lockers, and bike racks are all part of the new Dean Street mountain portal
The new Lift 1A will be a telemix, a combination of gondola cars and chairs. This format allows year-round, multimodal use and will give the Aspen Skiing Company the opportunity to explore reopening Ruthie’s Restaurant. This is a historic opportunity to bring Lift 1A back to the core of Aspen and make it as easy to access as the Silver Queen Gondola.
Two lodges are proposed as part of the plan. Gorsuch Haus at the top of South Aspen Street, immediately adjacent to the current site of Lift 1A, and Lift One Lodge on the properties once occupied by the Holland House, Skiers Chalet Lodge and Skiers Chalet Steakhouse. Gorsuch Haus will be an 81-room hotel and Lift One Lodge brings another 104 lodge rooms. These new properties contribute much needed new lodge inventory and provide the bed base that is an important foundation for the vitality of this portal.
The developers asked the townspeople to support “this historic opportunity that has emerged thanks to the insistence of Aspen City Council and the many people in the community who pressed for the return of walk-up access to Aspen’s original base area.”
If approved by voters, developer Michael Brown (Lift One Lodge) said it would take four or five years for all of it to be built. Lift 1A would be out of service for one or two seasons.
Because it involves city land, zoning changes and variances to the land-use code, the plan requires a public vote, which is anticipated for this spring.
Developer Jeff Gorsuch (Gorsuch Haus) asked the room for its support in that election and said the project connects the heart of the mountain with the soul of the town.
More information can be found at: www.LiftOneCorridor.com.
Aspen/Snowmass Real Estate Trends
What does the start of September mean for the real estate market? The Colorado Association of Realtors’ most recent market snapshot shows last month’s single family home and townhome/condo median sales price is up across the board year-to-date. A new Pew Research Center report details the one generation of Americans who have fully recovered from the housing crash a decade ago. And a Zillow Research report from last month explains when they believe it will be a buyers market!
Midvalley (Basalt, Willits, El Jebel) was a more mixed bag with transactions per month down 21% versus last year but gross volume (total sales amount) up 8.8%. The total year to date transactions are up by almost 13% over 2017, pointing to tighter inventory but solid overall sales. The numbers are taken from current July 2018 records from Pitkin, Eagle and Garfield Counties.
The Garfield County (Carbondale to Glenwood Springs and westward to Rifle and Battlement Mesa) picture in July 2018 was much better with sales, volume and YTD statistics up across the board. Gross volume was up 31%, transactions up just 1% (169 vs. 167), gross volume YTD up 12.5% and YTD transactions up 10%.
Contact Gareth for more information about how these trends could work in your favor whether you’re a buyer or a seller!
Aspen Real Estate Trends Point to a Robust 2017
While not every indicator points in the same direction, the overall picture of Aspen’s real estate market is one of continued improvement as we enter 2017. While overall sales were down in 2016, new tax revenue, development activity and record offerings all indicate a strong future going forward.
2016 saw total sales of Aspen real estate come in at $1.4 billion, a drop from 2015’s robust showing of over $2 billion.
Gareth Williams and other local experts believe that while the total sales had a surprisingly significant decline from the prior year, they nevertheless reflect a solid showing over the past 10-year span. 2015’s high total sales (second only to the market peaks of 2005, 2006 and 2007) were due to economic recovery and pent-up demand for Aspen property. One notable silver lining in the numbers was that the last few months of the year showed the greatest gains in sales.
Countering the picture painted by the overall sales decline, Aspen’s increased revenue from building permit fees provides better news for the local real estate market. More building activity has generated both new revenue and new economic activity in town.
In Snowmass Village a new partnership of Aspen Skiing Company, KSL Capital and East West purchased the assets to Base Village and are restarting construction on the transformative, yet long delayed project next month. This powerful consortium should provide the necessary boost to generate more activity. Other ancillary evidence of increased economic momentum include robust December sales tax collections in Snowmass Village. Gareth expects permit fees to trend upward in the first half of this year.
One other notable highlight is the remarkable listing of a 3,000 square foot penthouse in downtown Aspen for a record $30 million! Originally listed as a fractional ownership property, the fully-furnished penthouse is being sold as a full-ownership residence and resides in Dancing Bear’s newly-built Mountainside building on Durant Avenue, just two blocks from Aspen Mountain’s Gondola Plaza and one block from Lift 1-A (the finish arena for this year’s FIS World Cup Finals).
According to the Aspen Daily News article, other Dancing Bear fractional-ownership residences, including one recently sold by Gareth, have increased in price by over $200,000 since 2012, a positive trend for current and future fractional purchases in the Aspen Snowmass area.
For more information including a detailed analysis of Pitkin County, Colorado real estate sales since 2010 (including the Aspen Snowmass area), please click here.
All in all, Aspen’s building activity in 2017 should easily eclipse last year. Clients interested in securing a new home or vacation residence could benefit by closing on their properties sooner as most trends point to higher prices on the horizon.
Alive in These Mountains
Alive in these Mountains
Professional surfer Mark Visser connects with Gareth and shares his epic Aspen/Snowmass vacation experience in this fantastic AirBnB video.
Aspen Comes Alive in the Summer
Aspen Comes Alive in the Summer
As the local saying goes, “you come to Aspen for the winter but you stay for the summer,” and it’s still as true as ever. People fall in love with our town in the summertime and for so many, the decision to call Aspen home happens because of their summer experiences here.
After a spring that brought a wide variety of weather, temperatures are now warming up. Bluebird Colorado days are becoming the norm. Thanks to an abundance of snowy days this winter, the whitewater rafting will be excellent starting in late May! We’ve got festivals featuring food, wine, ideas and more on tap right here. These events along with world-class dining, nightlife, and camps offer entertainment for all ages! Visit the local info pages for a taste of all the activities available here.
What’s the Weather Like?
Conditions in Aspen are just about perfect, sunny and warm but still cooler than the capital city of Denver with dry conditions free from many of the insects that seem to come alive in other parts of the country. Afternoon clouds sometimes produce thunderstorms. They typically move through the area quickly, providing a break from the mid-day heat. Evenings cool down to a pleasant 65-70 degrees.
For the best selection of summer accommodations and ideas for an extraordinary Aspen getaway call Gareth Williams today! Whether it’s your first visit or your 50th, Gareth will make the process of booking your perfect stay in Aspen so easy and pleasant, you’ll be relaxed before you even arrive!