ASPEN PRICES KEEP CLIMBING
Aspen Daily News, Wed 07/12/2006 07:01AM MST
The average price of a condo in Aspen is more than $1 million, year-to-date data from the Aspen Board of Realtors shows.
The average price for single-family homes sold this year in Aspen is $4.8 million, up from $3.8 million in 2005 and $3.2 million in 2004.
The average condo price of $1.11 million is unchanged from 2005, but is up from $762,000 in 2004.
Aspen Board of Realtors President Ed Foran said the numbers reflect a tremendous demand to own property within walking distance of all of Aspen's activities.
The condo market has been strong over the last two years because the entry-level price is much less than for a single-family home, Foran said.
"Even though $1 million is a lot of money, (the single-family home market) makes condos look like a tremendous value," Foran said.
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