Industry News
The rising prices in Aspen, Colorado, homes continue to be compounded by post-pandemic market conditions where rich city dwellers are moving to resort communities. This was most evident when last week a 12,655-square-foot home on 60.78 acres of ranchland sold for $77 million, breaking the record for the highest-priced residential property ever sold in Aspen. The sale also broke the record for the state of Colorado. It narrowly beat the $76 million ski-in-ski-out mansion from last year.
The home is located just five minutes from the ski lifts of Snowmass and Buttermilk and has eight bedrooms and 11 bathrooms. Additional amenities include a heated swimming pool, two hot tubs, movie theater, wine cellar, huge outdoor living space, workout pavilion, and a private trout-stocked pond. The property also has views of all four Aspen ski mountains.
Doug Leibinger, a broker with Aspen Compass, who represented the seller, had this to say about the property when he announced the record-breaking sale:
“This iconic property at The Ranch at Owl Creek has set a new standard for elegance and exclusivity, showcasing the unparalleled beauty and allure of the Aspen area. The successful sale is a testament to the timeless appeal and desirability of this exceptional estate, and I couldn’t be prouder to have played a part in this historic transaction.”
The property was originally listed for $80 million on November 2, 2023. County records show it was originally purchased in 2021 for $40 million. The Pitkin County Assessor’s office has calculated the value of the property to be approximately $62.5 million. Like a majority of real estate transactions in Aspen, it was a cash deal. Property taxes are estimated to be $129,457 per year and the annual HOA dues are $37,500.
The record sale isn’t expected to last long. The Wall Street Journal has reported there is another Aspen home currently under contract to sell for $110 million. This would shatter the new Aspen and state record if the sale is finalized.
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