2024-10-22 08:55:03
Aspen continues to solidify its position as a premier destination for the ultra-wealthy.
Driven by a a combination of natural beauty, exclusive amenities and a growing demand for high-end properties, the town’s luxury real estate market remains exceptionally strong.
Of the 10 most expensive homes sold in Colorado this year, six were in Aspen and two more were in communities just outside the famed mountain town.
Riley Warwick, a broker with Douglas Elliman Real Estate-Durant, sold the most expensive residential property in Colorado in April for $108 million — the first time a home sale in the Centennial State cracked the $100 million mark.
“Buyers want something unique and irreplaceable,” Warwick said. “You’re seeing a lot of the high-end sales occur at those prices because of that dynamic.”
The dynamic Warwick is referring to is that Aspen’s zoning has changed. The maximum size allowed for a newly built home has dropped from 15,000 square feet to 9,250 square feet, making larger homes hitting the market virtually irreplaceable.
New homes built in Aspen also are not permitted to have a guest house or a pool.
Attributes Aspen has that appeal to those who can afford it include an airport five minutes from downtown, a world-class hospital, outdoor activities, outdoor activities and cultural institutions such as the Aspen Art Museum and the Aspen institute.
“It’s got that natural combination of beauty, charm, cultural significance and some of the best restaurants in the country,” Warwick said.
In other mountain towns, prices continue to rise simply because there’s not much on the market.
“It’s not just let’s hit Vail for a couple of weeks at Christmas and in the summer — people are having more of a life there,” said Malia Nobrega, an agent with LIV Sotheby’s International Realty-Covered Bridge in Vail.
Nobrega said the COVID-19 pandemic launched the luxury housing markets in many resort towns, whether in the mountains or at the beach, into the stratosphere, but they have to be close to airports and have a level of urban amenities not available everywhere.
“There aren’t many ski towns that check all those boxes,” she said. “There were a lot of people who wanted to be here, but there’s not enough schooling, and the private schools were full.”
Here’s a closer look at the 10 priciest home sales (plus one late entrant) in Colorado this year, according to Redfin.
419 Willoughby Way, Aspen
Sold price: $108 million
https://www.redfin.com/CO/Aspen/419-Willoughby-Way-81612/home/132040954
Topping the list of most expensive Colorado homes sold this year is 419 Willoughby Way in Aspen.
The 22,405-square-foot single-family home sits on 4.51 acres in the Red Mountain neighborhood. Built in 2010, it has 11 bedrooms,15 bathrooms and four garage space.
The home has stunning views of town, the Roaring Fork River and mountains.
It’s a record-breaking sale and the first-ever Aspen residential sale at over $100 million. Riley Warwick of Douglas Elliman Real Estate listed the property.
Steve Wynn, founder of the Bellagio and Wynn resort casinos in Las Vegas, partnered with Thomas Peterffy, a computerized and discount stock trading guru, to buy the home, according to the Wall Street Journal.
112 W. Hopkins Ave., Aspen
Sold price: $66.5 million
https://www.redfin.com/CO/Aspen/112-W-Hopkins-Ave-81611/home/177236279
This five-bedroom 5 1/2 -bath residence in downtown Aspen sold in April for $66.5 million, according to Redfin.
Built in 1967 and renovated in 1985, the home sits on a 9,000-square-foot lot and has two garage spaces.
1525 Star Mesa Drive, Aspen
$59 million
https://www.redfin.com/CO/Aspen/1525-Star-Mesa-Dr-81611/home/132075935
Sky Mesa is a private compound that has seven bedrooms, a two-bedroom guest cabin, spa building and pool house and an agriculture barn.
Situated on 36 acres, the property has multiple ponds, wetlands, meadows and private trails integrated into the landscape.
The main house is bathed in sun all day, and stunning vistas can be viewed through the floor-to-ceiling glass in the great room, which opens to decks that wrap the home.
Pool hot tub outdoor living space
A covered breezeway leads to the spa amenity building that includes a fully equipped gym, massage room, steam shower, locker room and indoor/outdoor pool.
295 and 495 Aspen Valley Ranch Road, Woody Creek
$46 million
The 17,250-square-foot residence sits on more than 280 acres in Woody Creek outside of Aspen.
The home, built in 2016, has 15 bedrooms and 18 bathrooms.
It sold before being listed on the MLS.
281 Carroll Drive, Aspen
$29.2 million
https://www.redfin.com/CO/Aspen/281-Carroll-Dr-81611/home/132031358
Sitting on just over 4 acres, this home combines Scandinavian modern design with the warmth of mountain living.
Built in 2022, the 7,551-square-foot home features six en-suite bedrooms, a separate guest house with a gym.
The Henrybuilt kitchen is equipped with Gaggenau appliances, six EuroCave integrated wine fridges with capacity for up to 900 bottles and a screened-in sun porch with Twin Eagle specialist pro grill.
331 Strawberry Park Road, Avon
$25.2 million
331 Strawberry Park Rd, Avon, CO 81620 | MLS# 1010073 | Redfin
This 11,192-square-foot home sits on 1.87 acres and offers ski-in, ski-out access to Beaver Creek. It has five bedrooms, eight bathrooms and boasts a movie theater, bowling alley, heated outdoor deck and patio spaces. Shawn Byrne, VP of Ron Byrne & Associates, was the listing agent.
1500 Ridge of Wildcat Drive, Snowmass
$24.5 million
https://www.redfin.com/CO/Snowmass/1500-Ridge-Wildcat-Dr-81654/home/132015099
Nestled on a private 200-acre expanse, this estate offers seven en-suite bedrooms, 9½ bathrooms, expansive living areas and breathtaking vistas from every room.
The 12,836-square-foot home, built in 2001, includes a spa, four-car garage and two elevators.
2400 Casteel Creek Road, Edwards
$22.4 million
https://www.redfin.com/CO/Edwards/2400-Casteel-Creek-Rd-81632/home/188144526
The sellers of the 38,236-square-foot home at 2400 Casteel Creek Road in Edwards wanted to get rid of the property quickly, so they put it up for auction rather than listing it on the MLS.
Malia Nobrega, an agent with LIV Sotheby’s International Realty-Covered Bridge in Vail who handled the transaction, said if there wasn’t pressure to sell the property quickly, it likely would have commanded a higher price.
“It was a great deal for the buyer and met the needs of the seller to close an over 30,000-square-foot home in 60 days,” Nobrega said. “Sotheby’s Auction House provides legitimacy. Sotheby Concierge Auction’s has the ability to get it in front of the highest level of clientele quickly with a sense of urgency, which results in a lot of showings in a short period.”
The eight-bedroom main house and four-bedroom caretaker’s house on 56 acres was built in 2001.
19 Cherry Hills Park Drive, Englewood
$21.5 million
https://www.redfin.com/CO/Englewood/10-Cherry-Hills-Park-Dr-80113/home/34914208
Quarterback Russell Wilson sold the 13,157-square-foot house on 5.34 acres in March after the Denver Broncos informed the Super Bowl champion said they would release him.
The residence has four bedrooms and 11 bathrooms, a pool, game room and home theater.
Wilson purchased the property for $25 million in 2022.
302 Park Ave., Aspen
$19.9 million
https://www.redfin.com/CO/Aspen/302-Park-Ave-81611/home/131998126
Built in 2003 and renovated in 2010, the 5,460-square-foot home in the heart of Aspen has four bedrooms and five baths.
The open floor plan on the main level includes a chef’s kitchen, dining and formal living room that opens onto a terrace with lounge seating and a hot tub facing Aspen Mountain.
The primary suite occupies the entire upper level and includes a sitting room, fireplace, spa-like bath and an oversized dressing room closet.
Family and guests will enjoy three generous bedroom suites with bathrooms that include dual vanities and high-end finishes.
A media and billiards lounge downstairs has a web bar with wine storage. The house also includes an elevator, two-car garage and attached mud room with built-ins for gear and storage.
428 N. Eighth St., Aspen
$17.5 million
https://www.redfin.com/CO/Aspen/428-N-8th-St-81611/home/184346749
A double-height, main floor living space transitions to a terraced outdoor patio and heated dining area with a steel-enclosed fireplace in this five-bedroom, 5½-bath home built in 2023.
Windows in the primary bedroom frame the views of Aspen and Shadow mountains, and the top floor guest suite has views of Ajax Mountain with and a natural stream off a private patio.
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