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The Estin Report: Aspen Real Estate News Archive "The Most Expensive Town in America", WSJ

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Defying the national housing slump, Aspen's prices are rising. Why the glitzy ski enclave is outpacing the Hamptons, Beverly Hills and Palm Beach...but Aspen hasn't missed the housing bust altogether: The number of homes sold last year was about half the level of 2006, and there have been foreclosures and notable fire sales, according to Mason Morse Aspen broker Tim Estin, who writes a regular economic analysis called the Estin Report. One house that sold for $16 million on Feb. 15, for example, was originally listed for $32 million.

ASPEN REAL ESTATE - The lowest-priced single-family home on the market in Aspen is listed for $559,000. It's located in a trailer park.While most housing markets in the rest of the country continue to struggle with anemic demand and foreclosuresand sales at many other luxury ski resorts are still sluggishAspen has forged its own orbit. The average home price in this mountain town has increased over the past four years, to $6 million in 2010 from $5.4 million in 2006, according to multiple-listings data. The median price for single-family homes is now the highest in the country at $4.6 million, says San Francisco-based Altos Research, surpassing the Hamptons, Beverly Hills and Palm Beach. Sales of luxury Aspen estatesthe sorts of over-the-top places with leather walls and outdoor heated infinity poolshave remained remarkably healthy, thanks in part to foreign buyers. Of the 25 real-estate transactions recorded by Pitkin County for the week of Jan. 19 to 25, five were buyers from abroad, including three Australians and people from Turkey and Hong Kong. By Nancy Keates, March 4, 2011 WSJ

Link to article

Link to (6) recent Aspen Property Transactions over $14MM

03/04/11 WSJ - Downtown Aspen

Disclaimer: The statements made in The Estin Report represent the opinions of the author not Mason Morse Real Estate. They should not be relied upon exclusively to make real estate decisions. Information concerning particular real estate opportunities can be requested from Tim Estin at 970.920.7387 or email. A potential buyer is advised to make an independent investigation of the market and of each property before deciding to purchase. To the extent the statements made herein report facts or conclusions taken from other sources, the information is believed by the author to be reliable. However, the author makes no guarantee concerning the accuracy of the facts and conclusions reported herein. The Estin Report is copyrighted 2011 and all rights are reserved. Use is permitted subject to the following attribution: "The Estin Report: State of the Market by Aspen broker Tim Estin mba, gri, www.EstinAspen.com".

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