A year that most Aspen area Realtors will ever forget. With total sales nearing the figure of 1.5 Billion Dollars, it is one of the best years to do date for Pitkin County. The year was so profitable, we saw one of the best Aspen based reality firms get purchased by Douglas Elliman Real Estate, the largest real estate brokerage in New York City.
With a downtown Pent House selling earlier this year for $3,100 per square foot the Aspen market was extremely successful. The reason Aspen was so successful in real estate transactions this year was do to the immense amount of homes that sold over 7.5 million dollars. There were 35 sales of 7.5 million or more in 2014. Compared to 2013 there were only 19 sales with the same value. Real estate professionals have contributed the fantastic year to a strong stock market giving buyers and sellers much more confidence with their investments. More high end construction is under way, these homes are being bought quicker than ever thus, there is a shrinking inventory helping make the market strong.
The surge of developers is in full throttle. Any and all open land whether it is zoned for living or commercial is being bought up and developed at record pace right now. None of the current or recently sold developments are having any trouble in selling homes or commercial spaces.
A few years ago the Aspen city council decided that they would no longer allow penthouses to be built in downtown center. There were a few instances that were grandfathered in and were allow to continue planned construction. This year with one penthouse on Hyman Ave (the main street in Aspen). This penthouse was sold this year for 15.8 million dollars. With a revenue stream such as this the Aspen City Council has already begun discussing the repeal of the penthouse rule in the downtown core.
To cap off what was just an incredible year for real estate in Aspen is the sale of homes that were over 12 million dollars. 13 real estate transactions eclipsed 12 million dollars. Of those thirteen homes the most expensive home to sell in Pitkin County this year was 26 million dollars.
Summit County also has had an incredible year for real estate transactions. Summit County will never have as high of numbers as Aspen and Pitkin County, but the real estate market is bouncing back and equalizing. With only two days left in 2014 the year to date monetary volume has been: $883,103,681. Compared to Aspen, not many, less than five purchases have been more than 7.5 million, not the 35 Aspen has reported. Again, the entire state of Colorado had positive gains in real estate transactions for the year of 2014. More and more signs the housing market is coming back quickly and stabilizing. Having over 30 closings in 2014 Omni Real Estate is a high Rockies real estate company that continues to work hard for their clients year to year, regardless of transaction value.
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This Weeks Summit County Events
The end of November in the Colorado mountains is a transition into the heart of winter. Snow blankets the towering peaks and evergreen forests, creating a picture-perfect scene straight out of a holiday postcard. The air is crisp, with temperatures often dipping below freezing, and the soft crunch of snow underfoot accompanies every step. Ski resorts buzz with early-season visitors eager to carve the fresh powder, while cozy mountain towns like Breckenridge and Aspen twinkle with festive lights. Wildlife becomes more elusive, yet you might spot elk or deer grazing in the valleys, their thick winter coats blending with the snowy backdrop. It's a time of serene beauty and the promise of winter adventures. -
This Weeks Summit County Events
In mid-November, the Colorado mountains transition into a true winter wonderland. The air is crisp, with temperatures often dipping well below freezing, especially at higher elevations. Snow blankets the peaks and valleys, turning the landscape into a vast expanse of white against the dark, towering pine and spruce trees. Ski resorts are bustling with activity as they prepare for the upcoming season, while early-bird skiers and snowboarders eagerly hit the slopes, enjoying the fresh powder. Wildlife like elk, deer, and sometimes even moose can be seen foraging in the snowy fields as they prepare for the cold months ahead. For those not on the slopes, hiking trails provide a serene escape, offering glimpses of snow-dusted aspens and breathtaking, unobstructed views of the frosty, majestic Rockies. -
This Weeks Summit County Events
The beginning of November in the Colorado mountains is a time of transition, as autumn’s final hues give way to winter’s first snowfalls. Crisp, clear days with vibrant blue skies are interspersed with chilly nights, often bringing a dusting of snow to blanket the high peaks. Golden aspens have shed their leaves, leaving bare branches that stand in striking contrast to the dark green pines and snow-capped summits. Trails and lakes start to quiet as wildlife prepares for winter, and the towns begin gearing up for ski season. There’s a sense of anticipation in the air, as locals and visitors alike wait eagerly for the mountains to transform into a winter wonderland.
