Aspen Peak - Niche Media - Aspen living at its peak
Issue link: http://www.ifoldsflip.com/i/681153
aspenpeak-magazine.com 143 estate market than it would be otherwise. Shannon Sweeney: The market is probably higher than it's ever been, surpassing even 2006 and 2007, before the recession. But Aspen will always be Aspen, and people will always want to come here. Christmas 2009, right after the recession, was one of the busiest holiday seasons ever. You go to some other resorts, even in Colorado, and they still haven't fully bounced back. MH: He's right, it truly is a world-class resort, and not just for people who want to ski. There's an art museum, an opera house… The lifestyle and culture are just incredible. Penney Carruth: But January was way off [year-over-year dollar volume was down 70 percent for January 2016]. We can all point to all kinds of reasons, whether it's the snow or I-70 being closed, but it feels like the market is changing. How are Snowmass and other towns further down the Roaring Fork Valley being influenced by the Aspen market? KK: There are a lot of people who want the culture that Aspen affords with a shorter winter and a lower altitude. But you can't even find homes for $650,000 in Glenwood Springs now. SS: The Aspen Skiing Company has done a great job of branding Aspen and Snowmass together. When the Aspen market gets tight and very expensive, people start looking at Snowmass and other places downvalley. Especially when you could pay $8 million for a small place in Aspen or get a ski-in, ski-out home for much less than that in Snowmass. PC: I think a lot of the Snowmass buyers are looking for bigger, nicer homes in the school district. There's a lot more affordability there. MH: There are a lot of younger professionals like me who live [in Aspen] as their primary residence and who have good incomes, but when you consider mortgage payments and condo fees, it can be pretty hard to manage. So downval- ley offers more options for them to sustain their quality of life for things like travel—so you're not spending your entire income on your home! . Shannon Sweeney and Krista Klees Amid the exclusivity of Aspen, greater value, good schools, and other benefits have Snowmass (pictured) and other downvalley towns on the rise. left: The Monarch's newly built wine room (accessed through a hidden door).