Pitkin County real estate sales were the highest since the 2007 heyday, racking in a whopping $929.24M for the first half of 2015. But don’t get too excited about this upward trend unless you live in the Aspen Core, West End, or Red Mountain….the A+ locations where unique properties are setting records for price per square foot. This trend is also in part to the “Superrich” according to a New York Times article. The Superrich of the world has formed a migration pattern of global events and places, and Aspen is on the map! Superrich wants to be private, but at the same time they want a community of like-minded people, and Aspen offers just that. Not to mention it’s a great place to park money in a hard asset like real estate. Additionally, speculation builders are making a comeback and are responsible for the strong sales in 2015. While this may be great for some, for buyers it means very low inventory—which is down 50% from 5 years ago. This is why if you are buying real estate in today’s low inventory market you need a broker who can roll up their sleeves and dig deep for the right product, and we know where to find them!
