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Aspen was the most expensive place to buy real estate in the US in 2011. Aspen real estate is a mixture of high-end luxury estates and condos and single-family homes and mobile home parks. As of May 2020, the lowest-priced single-family home on the market was a mobile home for $895,000. The median listing price for homes or condos for sale in Aspen is $5,081,388, or $897 per square foot. In Aspen real estate, it is not uncommon to see listing prices of higher-end homes reach the mid-eight figures.
Because of its resort nature, there are a multitude of condos and townhomes in Aspen. Several condo buildings are offered only as fractional units and do not allow for full-time residency. The Aspen Pitkin Housing Authority operates and regulates affordable housing in the area and utilizes a lottery system for those looking for a more affordable option. There are many regulations placed on these units, and it could take years to be awarded the opportunity to purchase a deed-restricted property.
If you are looking for property under $1,000,000 in the Aspen real estate market, you will find condos under 1,000 square feet, are the majority. If your search in the Aspen real estate market has you looking for a vacation property, your limit is only your imagination. The number of properties with ski access and unbelievable mountain views are seemingly endless.
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