June 28, 2020 | Gary Feldman Group

The Appeal of Riverfront Property

The Appeal of Riverfront Property
Aspen/Snowmass buyers have always been drawn to riverfront homes for their peaceful and secluded tranquility.  This attraction has taken on new meaning in the COVID era. Demand is increasing dramatically and the remaining inventory, especially for homes in the Aspen School District is quickly disappearing.  Fourteen riverfront homes have sold in the past year and 2 are currently pending sale. Only 9 remain for sale in the Aspen School District and asking prices are steadily increasing:  2 asking less than $5M; 2 asking between $5-$10M; and 5 asking more than $10M.
Average price per square foot for available riverfront homes in the Aspen School District - $1,706
Average price per square foot for sold riverfront homes in the Aspen School District in the past year - $1,878
What makes riverfront living in Aspen so desirable is also what makes it so scarce.  The waterway is a natural home to all of Aspen’s wildlife.  Bald Eagles, Blue Herons, ducks, and Canada Geese fly up and down the river; bears, elk, deer, and beavers walk the riverbanks, all looking for food.  Fly-fishermen, rafters, and kayakers all have their favorite stretches of the Roaring Fork River.
Years ago, Pitkin County enacted new restrictions relating to homes along the river.  New homes cannot be constructed less than 100 feet from the river’s edge.  Homes that are currently located within the 100 setbacks can never be replicated making them extremely valuable and scarce.
If you’d like to know what is currently for sale along the rivers of Aspen, which include the Roaring Fork River, Maroon Creek, Castle Creek, and Woody Creek, call me for a list with links.

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