New Construction Property Statistics
| Average Price | $5.3M |
|---|---|
| Lowest Price | $398K |
| Highest Price | $75M |
| Total Listings | 113 |
| Avg. Price/SQFT | $2.2K |
Property Types (active listings)
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Aspen New Construction Properties For Sale
Because of its historic designation and the efforts of the community to preserve the area’s small-town charm, Aspen has strict regulations on new buildings. Empty lots are rare to find on the Aspen real estate market, and tear-downs are limited to a total of six per year. Despite the popularity of condos, much of the development for these types of properties is limited to deed-restricted housing, which is not available to the general public.
For those who wish to update an existing property, renovations are restricted to changing less than 40% of the exterior walls. Despite this, new construction builds are typically quite luxurious, which is in line with the atmosphere that Aspen provides. New condos for sale are quite desirable, not just for the more contemporary look, but also because the building amenities are often superior to older buildings. These can include hot tubs, fitness centers, pools, shuttle and concierge services, and more—and most of the condos are ski-in/ski-out.
So, in short, new construction homes for sale in Aspen can be found on the market—far more frequently than land for sale—but these listings are competitive. New construction single-family homes have the desirable updates and features that a lot of buyers are looking for, though new construction properties are most valuable upon completion. Buyers interested in building a custom home might have to look outside of the town, or settle for a new construction build.
New Aspen: The Lift One Development
The Lift One Corridor Project is a long-anticipated redevelopment effort at the base of Lift 1A in downtown Aspen. It includes the construction of the Lift One Lodge, a Gorsuch Haus hotel higher up the slope, a ski museum operated by the Aspen Historical Society, and a new replacement for Lift 1A. The proposed lift—potentially a gondola hybrid—will be extended 500 feet downslope, improving accessibility from Dean Street.
In a fraught March 2019 election, Aspen voters narrowly approved the project by a margin of 26 votes (1,555 in favor and 1,529 opposed). The Lift One Corridor Project involves multiple stakeholders, including Aspen Skiing Co. and the city of Aspen. The stakeholders’ group has developed an initial construction plan, though city officials emphasize that the plan remains subject to revisions and is contingent upon the issuance of building permits before work can officially begin.
The project would create hundreds of thousands of square feet of new real estate in downtown Aspen, and increase the value of existing properties through improved ski-in ski-out access.
Aspen Tear Down Regulations and Challenges
Permits are allocated through a lottery system, with only six per year awarded. A permit is required if more than 40% of a structure's interior is altered. There are strict demolition standards. Permits must be submitted with the City of Aspen; follow this link for more details.
New construction generally takes 4-5 years on average, and it’s necessary to factor .75-1% inflation per month to the cost. There is only one way in and out of the Roaring Fork Valley, and it gets even more tight in downtown Aspen, east of the roundabout. Planning around strict regulations often takes longer than expected, meaning costs add up.
These regulations and challenges, however, make new properties that much more valuable when they are finished.
Snowmass New Construction Properties
In recent years, Snowmass has completed several new developments, fulfilling entitlements granted to the Base Village decades earlier. These new luxury condos and townhomes are unmatched in Aspen, reducing the “Snowmass discount” to only 30% cheaper than Aspen, from 60% a few years ago. There isn’t much in Aspen that can compare to these luxury condos and their amenities.
Cirque Viceroy Condos
​The Cirque Viceroy Condos are one of the latest additions to the Snowmass Base Village. The collection of 48 fully furnished residences includes two and three-bedroom condos and four-bedroom penthouses. Each residence is designed with high-end finishes such as light wood flooring, natural stone accents, and upscale kitchen appliances. Owners enjoy direct ski-in/ski-out access on Assay Hill, complemented by amenities like a private pool and spa area, state-of-the-art fitness center, ski valet services, and 24-hour hotel support.
Aura Snowmass Condos
The Aura Snowmass Residences are even more luxurious than the Cirque Viceroy. The Aura Snowmass was completed for the ‘24-‘25 season, and, like most recent condo projects in Snowmass, the 21 residences immediately sold out.
One of the most luxurious aspects of the Aura is accessibility via private elevator (no common hallways). Residences are either 4 or 5 bedrooms with an additional flex room that can be used as desired. The building is certified LEED Gold, meaning it’s sustainably designed to reduce energy consumption. Everything is electric and powered by renewables, except the hot tubs and snowmelt system.
Naturally, the Aura also comes with also the “standard” luxury amenities like spa pools, a fitness center, ski/bike lockers, storage, a concierge service, ski-in ski-out access, a lounge, and a shuttle.
Stratos Condos
Stratos Residential Collection is planned for completion in 2027. These properties fall into three categories: Residences, Cloudstones, and Sky Cabins. Residences are 2, 3, or 4-bedroom condos, while the Cloudstones are townhomes with a private garage. Sky Cabins are 4, 5, or 6 bedroom penthouses, of which there are only 6 in the entire building.
Residents enjoy ski-in/ski-out access, a private Stratos Ski Lounge, a rooftop Sky Terrace and Lounge with a large spa pool, and proximity to the salt water Village Pool and SBVfit fitness center. Stratos sold over 70% of residences during the Initial Contract Signing Process, before construction was even completed.
Aspen Vacant Land & Lots For Sale
One way to avoid the regulations surrounding tear downs in Aspen is to purchase a parcel of land and build a custom home/property. Land doesn’t come cheap in Aspen; the average price per acre is north of $2.5 million. Some land comes with conservation easements so you need to be aware of the regulations during your search.
Empty lots in Aspen downtown often sell for more than $10 million…if you can find one. The further you go from Aspen, the easier it is to find empty lots, with prices going for just a fraction of Aspen downtown pricing.
Buying A New Property in Aspen
When diving into the competitive Aspen real estate market, you will want an expert’s help and guidance. 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 by phone or email.
