Aspen has established itself as a key player in the luxury real estate market, with six of the ten highest-priced homes sold in Colorado this year located within its boundaries. The most notable sale was a property that exceeded $100 million for the first time in the state’s history. The sales reflect a strong demand driven by the area’s natural beauty and exclusive amenities.
In April, Riley Warwick, a broker at Douglas Elliman Real Estate-Durant, facilitated the sale of the most expensive residential home in Colorado, which sold for $108 million. This sale marked a historic shift in the state’s real estate market, symbolizing the growing value of unique properties in Aspen.
Warwick noted that changing zoning regulations in Aspen, which restricted the size of new homes from 15,000 square feet to 9,250 square feet, has made larger properties increasingly rare and desirable. New developments are also forbidden from including guest houses or pools, further heightening the allure of existing luxury homes.
Aspen’s appeal includes its proximity to an airport, a world-class hospital, a vibrant cultural scene, and numerous outdoor activities. Warwick highlights the combination of natural beauty, cultural significance, and exceptional dining options as key factors in attracting affluent buyers.
Beyond Aspen, mountain towns in Colorado are also experiencing rising real estate prices, largely due to limited market availability. Malia Nobrega, an agent with LIV Sotheby’s International Realty in Vail, noted that luxury housing markets in resort towns have surged in popularity since the COVID-19 pandemic. Buyers are seeking locations that offer access to amenities and schools, which are not universally available.
The list of Colorado’s most expensive home sales this year showcases a mix of properties, with Aspen dominating the rankings. Key sales include:
1. 419 Willoughby Way, Aspen – Sold for $108 million: This extensive 22,405-square-foot home features stunning views and luxury amenities.
2. 112 W. Hopkins Ave., Aspen – Sold for $66.5 million: A renovated five-bedroom home in downtown Aspen.
3. 1525 Star Mesa Drive, Aspen – Sold for $59 million: A private compound on 36 acres, complete with multiple recreational facilities.
4. 295 and 495 Aspen Valley Ranch Road, Woody Creek – Sold for $46 million: A massive 17,250-square-foot home located on over 280 acres.
5. 281 Carroll Drive, Aspen – Sold for $29.2 million: A modern 7,551-square-foot home featuring upscale designs and amenities.
6. 331 Strawberry Park Road, Avon – Sold for $25.2 million: Offers ski-in and ski-out access with luxurious facilities.
7. 1500 Ridge of Wildcat Drive, Snowmass – Sold for $24.5 million: A private estate with breathtaking views and high-end amenities.
8. 2400 Casteel Creek Road, Edwards – Sold for $22.4 million: An auction sale of a spacious home on a large property.
9. 19 Cherry Hills Park Drive, Englewood – Sold for $21.5 million: Previously owned by NFL quarterback Russell Wilson.
10. 302 Park Ave., Aspen – Sold for $19.9 million: A well-appointed home with scenic views in the heart of Aspen.
11. 428 N. Eighth St., Aspen – Sold for $17.5 million: A newly built home featuring luxury finishes and panoramic mountain views.
As Aspen continues to attract high-net-worth individuals, its luxury real estate market shows no signs of slowing down.