Aspen Real Estate Market Reports

A good portion of our sales have not been recorded in a multitude of new projects.  One of which is the highly sought after Residences at the Little Nell.  RLN fills a niche for the exclusive buyer that wants the location, location, location of ski-in, ski-out access to Aspen Mountain.  The Residences offers an exclusive, member-owned, private residence club located on Aspen Mountain adjacent from the Silver Queen Gondola with direct ski-out, ski-in access.

One part of our market that is always in demand is the Central Core of Aspen.  The Core of Aspen has experienced staggering growth over the last few years. The market is being driven by basic supply and demand economics. In 2006, the Central Core experienced a 31% price appreciation. Year-to-Date through June 1st the market has already had price appreciation of 14%, with a Compound Average Growth Rate since 2002 of 14%.

On a transaction basis, 2006 was the best year Aspen real estate has experienced. The majority of the decline in transactions is experienced in the fractional market. Through June of 2006, fractional sales represented 450 closed transactions. Fractionals have had a decline of (71%) in the same period of 2008, bringing the total to 132 transactions. Last year, fractional transactions represented 36% of the market, compared to 19% for 2008.

When we look at whole ownership transactions, Pitkin County has been in stride with our best year ever. Through June of 2006, there had been 545 transactions versus 537 in 2008.