Downtown Aspen Real Estate Statistics
| Average Price | $8.8M |
|---|---|
| Lowest Price | $1.2M |
| Highest Price | $75M |
| Total Listings | 58 |
| Avg. Price/SQFT | $4.2K |
Property Types (active listings)
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Downtown Highlights
Downtown Aspen At A Glance
Also known as the Central Core, downtown Aspen offers everything the modern person could want: skiing, dining, shopping, museums, music, bars, parks, history, fashion, and more. The Aspen lifestyle is simply living life to its fullest, with plenty of options for how to go about it.
This beautiful area, beloved for its amenities and its historic charm, is a must-see for tourists passing through the region. The Paepckes, an American entrepreneurial couple, were visionaries who introduced a sophisticated side to the city of Aspen. From restoring the Hotel Jerome to founding the Aspen Institute and the Aspen Music School and Festival, Aspen’s downtown thrived culturally. In fact, with real estate prices that rival luxury Manhattan, market forces have deemed Aspen the best place to be.
Discover Downtown Aspen Real Estate
Real estate in downtown Aspen is not as diverse as other areas of the city, with most of the active listings being either condos or townhomes—with some rare opportunities to purchase a vacant lot. However, this district does have a range of styles and construction dates, from more traditional, cottage-inspired designs to new construction properties. Single-family homes are situated on the fringes of the downtown boundaries or just beyond them.
As a whole, the market in downtown Aspen is quite expensive. Low-rise condo buildings can range from under 500 square feet (or less for a studio) to upwards of 1,500 square feet—though these units for sale have prices that reflect this! Though price varies from property to property, a typical condo unit begins at roughly $1,000,000 and can easily soar into the multiple millions. However, townhomes for sale in the downtown area offer a lot of the same square footage (and high-end upgrades) of a single-family home, and make a great alternative. Especially for buyers with familiar and/or those looking to live year-round in Aspen.
Short-Term Rental (STR) Opportunities
Downtown Aspen properties may come with the added advantage of being in the “L” Zone, meaning they are automatically granted an STR permit, assuming they qualify as the definition of a “lodge.” That puts homebuyers well ahead of the other zones comprising 95% of Aspen, where one can wait years for an STR permit.
Whether a buyer in the L Zone or not, everyone wants a taste of the Aspen downtown lifestyle, making your property much more valuable of an investment—and therefore some of the most sought-after real estate in town.
Things To Do In Downtown Aspen
There’s much to do in and around Aspen. The day might start with a sit-down breakfast at the Hotel Jerome, the best in town—with the day’s next activity likely to be skiing.
Aspen Mountain’s steep, shadowy slopes are fun for all ages. As a property-owning community member, you’ll be getting to know the local characters, and there’s no better place than the town ski hill. Aspen residents are friendly, welcoming neighbors—but there’s still excitement during tourist season.
After skiing, the natural order of the universe is to ápres-ski. You may delight in munching on bar snacks at the Ajax Tavern in the Little Nell at the base of Ajax. Or, you may find yourself back at the Hotel Jerome for the second time of the day (certainly not the last), this time at the J Bar, to grab a bourbon at one of Hunter S. Thompson’s favorite stomping grounds.
In Aspen, the night usually highlights a fabulous music performance at the Aspen Music School & Festival or perhaps a lecture by a public intellectual at the Aspen Institute, founded by the aforementioned Walter Paepcke. Downtown Aspen is also host to the iconic music club Belly Up, which hosts talent on a near-nightly basis during the winter and summer high seasons.
Wash it all down with drinks at the Silver City Saloon, home to Aspen’s only public pool table, or the J Bar for the day’s third visit to the Hotel Jerome. Don’t fret. The record is far higher. For decades, men grew roots from their barstools after the silver bust.
When you finally do succumb to the urge for some shut-eye, take solace in the fact that your sleep will be uninterrupted by construction, horns, engines, shouting, and any of the other annoyances of traditional city life.
Shopping in Downtown Aspen
The Aspen shopping experience is closer to that of Paris or New York than what you’d expect from a small city of 7,000 residents in the middle of the Rocky Mountains. In addition to the requisite outdoor gear shops, you’ll find all the classic luxury designer brands like Hermès, Dior, Louis Vuitton, Bottega Veneta, and more, as well as some trendier options such as LoveShackFancy, Alo, and Golden Goose. Downtown Aspen turns into a fashion runway during the holidays. Galena Street features a stretch of downtown that serves as a headquarters for the luxury shopping scene.
For a taste of Aspen beyond the designer labels, the Aspen Saturday Market (June through October) offers a different kind of shopping experience. The market spills across downtown, packed with Colorado artisans selling handcrafted leather goods, silver jewelry, and locally made skincare, and everything else under the sun.
Nearby, Kemo Sabe, an Aspen institution, caters to those looking for a bit of Western flair, like custom cowboy boots and one-of-a-kind Stetson hats that are steam-shaped to perfectly fit your head.
Aspen Mountain Skiing
Even with all the rest, Aspen wouldn’t be Aspen without one of the world’s best ski resorts jutting straight out of town. Aspen Mountain, affectionately known as Ajax, is not for the faint of heart, and the locals wouldn’t have it any other way; when you ski every day of every winter, you start to crave a little spice with your skiing.
It takes a few minutes to walk to the Silver Queen Gondola—Aspen Mountain’s main artery—from just about any point in the historic downtown area. The northerly exposure casts shadows during the heart of winter but keeps the snow cold and velvety soft. The lift infrastructure just received a boost with the Hero’s quad, which added 143 acres of terrain in 2023. It’s all about the steep and deep at Ajax; the glades are among the steepest tree skiing you’ll find in the U.S.
Let’s not forget about Aspen Highlands, the most challenging of Aspen’s four ski resorts, even more so than Ajax. Powderhounds hike the extra 30 minutes into Highland Bowl, where a steep, expert-only headwall drops off in a cascade of powder. For those looking to break into the Aspen ski scene, the bowl isn’t just a run—it’s a rite of passage.
Outdoor Activities In The Aspen Area
The mountains come alive each summer in Aspen. Hiking and biking are just a couple of the activities you can dive into while here. Like skiing, Aspen hiking ranges from family-friendly to downright extreme. While the Maroon Bells scenic loop is surely Aspen’s most famous—and photographed—hike, there are dozens of trails to explore in the region.
The American Lake Trail is a peaceful alternative to the Maroon Bells, reaching an alpine lake in a pristine and remote valley. The Hunter Creek Trail leaves right from town with 4.8 miles of moderate hiking along the creek. If you want an easier hike with the same great views, Independence Pass is home to several trails, including the Linkins Lake Trail and the longer Lost Man Loop.
Meanwhile, Snowmass is now home to one of the best bike parks in the country, with trails for all levels, from beginners to experts and everything in between. You’ve got machine-built flow trails, natural tech trails, and monster jump trails. If you like mountain biking, you’ll find it here. The park isn’t just popular with kids and teenagers; riders of all ages flock here for the beautiful trail-building and stellar summer weather.
Downtown Aspen Homes For Sale
Aspen real estate ranges from bite-sized condos to sprawling estates on Red Mountain (Billionaire Mountain). Prospective buyers must weigh many factors when making a choice. However, of all Aspen real estate agents, none has a better track record for success than Ryan Schwartz. For more information regarding Aspen homes for sale and Aspen real estate trends, or to list your home with a premier Aspen real estate agent, contact Ryan Schwartz today via phone or email.
