This week, real estate appraiser, Curbed graph guru, blogger, newsletter writer, and columnist Jonathan Miller dives into ski town real estate.
Over the last decade, sales of high end Aspen residential properties have followed a logical flow, consistent with the overall U.S. housing market. Activity peaking in 2006; extinguished with the Lehman Brothers collapse in 2008; weakness in 2011; showing elevated levels over the past year; all tell the national real estate story. And recently the $10 million and up Aspen market has remained both elevated and consistent over the past year, representing 5 to 10 percent of overall sales.
We are two thirds into the third quarter of 2015 and sales at or above the $10 million threshold are already consistent with the prior year of quarterly activity. Given the past few weeks of volatility in world wide financial markets, the continued flight to safety to hard assets like real estate is expected to continue.
Throw in some of the best skiing in the world, and the logic is all fresh powder.
· Aspen Real Estate Has Had Many Peaks, But It's Not Peaking [Curbed Ski]
· Aspen Housing Prices Up As Buyers Purchase Larger Homes [Curbed Ski]