Aspen Home Sales Set New All-Time Records With Billionaire Mountain Leading the Way
COVID-19 Pandemic Spurs a $3.1 Billion Buying Spree
BY Shelby HodgeThis 10,000 sq.ft. mansion on Aspen's Red Mountain, boasting views from Independence Pass to Mount Sopris, set a 2020 sales record price at $31.85 million. (Coldwell Banker photo)
It’s almost impossible to fathom — Aspen area residential real estate sales in 2020 skyrocketed to a mind-boggling $3.1 billion with the largest single sale weighing in at $31.85 million for a new build on posh Red Mountain. With numerous Texans claiming the Rocky Mountain nirvana as their personal playground, the sales record certainly peaks our interest.
“This summer we saw more and more people flocking towards smaller communities. Buyers really ran with the newly available ‘remote’ lifestyle,” Douglas Elliman Aspen agent Brittanie Rockhill tells PaperCity. “What started as working and learning remotely, quickly evolved into living more remotely.
“With no tethers to pull buyers back to cities after a fun summer in Aspen, people put properties under contract and closed in November.”
During that month, there were 90 residential sales, 83 of those in the multi-millions in Aspen’s Pitkin County, double the number of sales that typically occur in that month. One Aspen real estate agent has tagged the phenomenon as “the great urban exodus.” Among area real estate cognoscenti the COVID-19 pandemic is widely credited with the remarkable sales volume.
The 2020 sales crushed previous sales records.
“To put the year-to-date sales in perspective, in 2017, 2018 and 2019 approximately $1.9 billion sold in each entire year,” Amy Doherty of Douglas Elliman noted in her November newsletter. “The all-time record year for sales was 2006 when $2.6 billion sold. It is an understatement to say 2020 is a year for the record books (in so many ways).”
Elizabeth Anthony
While Coldwell Banker Mason Morse had the seller and buyer for that mega home purchase, Elliman’s Joshua Saslove and Riley Warwick marked 2020 by garnering the highest sales price for a condominium in the area. The 2,821 square foot penthouse in the historic Crandall Building sold for more than $11 million.
Another noteworthy transaction in 2020 was the purchase be media mogul Byron Allen of a 9,000 square foot contemporary mansion for $27 million. This too is located on Red Mountain, which is often referred to as Billionaire Mountain. Douglas Elliman agents Raifie Bass, Wendy Wogan and Darin Tansey held that listing.
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