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Market Improving?

If the sale of my listing on Pitkin Green is any indication, the answer is yes!  Since January 1, 2011, 12 building sites sold in the Aspen area.  This includes Red Mountain, Starwood … all neighborhoods.  Until the Pitkin Green closing, the highest priced sale for vacant land/building site was $3,300,000.

Pitkin Green just closed for $5,750,000!

The building site is 1.57 acres, with great views and privacy.  Yes, the lot is in a prestigious Aspen location, larger than most, very buildable. The original list price was $8,500,000 in 2007.  The seller took it off the market for almost a year; then re-priced at $6,900,000 in 2011.

Conclusion:  Aspen is unique … and very desirable.  For the special locations … locations appreciated by both buyer and seller … property will change hands.  Also true, most sellers in Aspen/Snowmass do not have to sell.  Therefore, sellers keep the market strong.  When buyers buy, they know they have a gem property.  Therefore, when they become sellers, they set the price.

If you have a property to sell, please give me a call.  You might take a moment to click on the “Testimonial” tab for comments from some of my clients.


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