Aspen Glen Golf Course Community Real Estate Update

Aspen Glen is the premier gated golf course community in the lower part of the Roaring Fork Valley. The Jack Nicklaus designed golf course has won numerous awards and enjoys a significantly longer season than some of the golf courses closer to Aspen. The spectacular club house with pool, tennis and gym facilities at Aspen Glen enjoys incredible views of Mt. Sopris and is a popular venue for local events.

Like all golf course communities, Aspen Glen has been affected by the economic crisis and prices have fallen significantly from their peak in 2007-2008. Probably due to the general financial strength of the typical Aspen Glen resident, the neighborhood has not been as affected as other parts of the valley by foreclosures.

In the last 12 months, there have been 11 residential sales in Aspen Glen, with prices ranging from $475,000 to $2,750,000. The median sale price was $1,050,000 and the average list to sale price reduction was 20%.

Currently there are 43 properties listed for sale, showing that there is still a significant oversupply. Asking prices range from $485,000 to $2,400,000. There are 3 bank owned properties currently for sale.

Based on the absorption rate of 46 months and the median days on market of 221 days, in my opinion, prices will need to come down further before sales pick up. This being said, every seller sets their own price and the properties that are selling are the ones that reflect a true value.

if you would like more information on Aspen Glen, including a list of properties available or reent sales, please call or email.

June, 2011