With about 7,000 residents, Aspen is a pretty exclusive community. The alpine area is situated in the Rocky Mountains and attracts many tourists every year alongside notable individuals and celebrities who own a second home there. Aspen is popular for its unrivaled skiing opportunities, five-star establishments, high-end shopping institutions, and annual music festivals. It is also very famous for its breathtaking luxury homes. If you are considering buying real estate here, this guide is for you.

Aspen Real Estate

Aspen is by far the most expensive real estate market in the United States. Its prestigious condos and high-end luxury estates sell for a median price of $4,570,633, with some listings going into 8-figure values. In the first quarter of 2022, the median sale price of a single-family home was $13,750,000.

But closing prices in Aspen go beyond the listing price. In the remote Colorado town, properties are reassessed every odd-numbered year. The values are usually calculated depending on comparable sale values of the previous two years. Aspen properties also carry a 4.95 mill levy that covers general property tax. This amount is directed toward infrastructure, schools, and local service funds.

Because of the natural resources within and around Aspen, it also contributes to a fund designed to protect local lakes and rivers. An Aspen realtor familiar with the real estate market in Aspen can help you better navigate these crucial details.

The luxury home market in Aspen is very prominent. In 2020, sales in this sector increased by 60 percent, toppling the non-luxury home sale values for the year. This is because Aspen remains highly competitive, with luxury homes gaining or holding value every year. The market is so robust, in fact, that real estate here is considered a better asset than the stock market.

Aspen Luxury Homes

Aspen is named for the magnificent trees that line the slopes of the mountain ranges around the area. This scenery is breathtaking from all vantage points and is one of the reasons Aspen luxury homes are so highly-priced. With enough money, you can purchase an alpine retreat in the mountains.

One of the best neighborhoods for prestigious living here is Woody Creek. This hidden gem is beautifully ensconced from the outside world, offering a serene and rustic reprieve from the summer and winter tourists. The homes in Woody Creek are elegant villas in the ranch style, often large and with wide open spaces. The feel strikes the perfect balance between suburban and rural, complete with vacation-like amenities.

Living in Aspen

Aspen neighborhoods offer a level of luxury living, privacy, and exclusivity unavailable elsewhere in the world. The homes are spacious and well-built in elegant styles. Away from the house, residents can enjoy a refined culinary experience, world-class healthcare, and high-end shopping and vacation experiences. If you love classical music, you will enjoy the Aspen Music Festival and School.

You Need an Expert Realtor to Buy Your New Aspen Home

Because it is so competitive, the Aspen real estate market can be challenging to navigate on your own. The best way to ensure you get value for your investment is to work with an experienced Aspen realtor. Carrie Wells has years of experience working in the Aspen market and can help you understand the market conditions and technical aspects of purchasing a home. If you are ready to get started, call her today and start the process of buying your Aspen luxury property.