ASPEN INSIDER

November 2025

Flying Dog Ranch West, a 229-acre working cattle ranch near Carbondale, Colorado, offers a rare combination of agricultural heritage and mountain luxury. Located just minutes from downtown Carbondale and 30 miles from Aspen, the property features 180 acres of irrigated farmland, a quarter-mile of Crystal River frontage, and coveted senior water rights dating to the 1880s. The ranch includes three homes (ranging from a historic 19th-century cabin to a four-bedroom main residence), an event barn, artist's studio with forge, and greenhouse. With approvals already in place for additional construction and its proximity to Mount Sopris in the scenic Roaring Fork Valley, this property represents both a working ranch and family compound opportunity in one of Colorado's most desirable regions.

Co-listed with Gabe Molnar (Douglas Elliman), Michael Shook and Joe Risi (both of Home Waters Real Estate Group)

Located in the pristine Capitol Creek Valley just 30 minutes outside Aspen, St. Benedict's Monastery represents the largest holding in the immediate Snowmass/Aspen area. The property sits in a picturesque ranching valley surrounded by the lofty peaks of the Elk Mountain Range. Known for its peace and privacy, Trappist monks have lived and managed this idyllic ranch for over 68 years. Wildlife and cattle have co-existed for years, and the ranch and adjoining protected lands have retained the same natural habitat and rural characteristics today as they did when the monks first arrived. Three creeks meander through the ranch for more than five miles and irrigated meadows hold historic water rights. This is an excellent opportunity for conservation and hunting, as the property sits in Colorado Game Management Unit 43. This exquisite and tranquil land is the perfect backdrop for hiking, horseback riding, snowshoeing, snowmobiling, and more.

Co-listed with Kenneth Mirr and the Mirr Ranch Group.

Unless otherwise noted, these are recent sales from the Aspen Glenwood MLS, not my listing or buyer.

ASPEN

Single Family Homes

Aspen's single family home market is showing remarkable momentum heading into winter. Since November 1st, 12 transactions have closed, with five exceeding $20 million—including one impressive sale at $48 million. This surge of activity signals strong buyer confidence and bodes well for the season ahead. Looking at year-over-year comparisons, October 2025 saw new listings increase 14% compared to October 2024, though sold listings held steady at seven transactions. The median sales price for October was $11,500,000, reflecting an 18% decrease from the previous year, while inventory grew by more than 8%. However, the year-to-date picture tells a more compelling story: single-family home sales are up 13%, the median sales price has increased nearly 6% to $13,225,000, and days on market have decreased by more than 28% to just 163 days. Properties are moving faster, and buyers are acting decisively—clear indicators of a strengthening market as we head into peak ski season.

Townhomes & Condos

Aspen's condo and townhome market kicked off November with a stunning milestone: a downtown townhome sold for a record $7,900 per square foot, totaling $40 million. This transaction, closed within our Douglas Elliman Aspen office, represents the highest price per square foot ever recorded in the market and signals strong buyer appetite as we enter the winter season. October 2025 brought notable activity, with new listings doubling to 12 properties compared to just 6 in October 2024. Sold listings surged 80% to 9 closed transactions, and days on market decreased nearly 21% to 134 days—indicating that well-priced properties are moving quickly. While October's median sales price dropped more than 45% from $5,800,000 to $3,175,000, the year-to-date median has remained virtually flat, down less than 1%. Year-to-date metrics show sold listings down slightly at 3% (86 transactions in 2025 versus 89 in 2024), while days on market have increased nearly 7% to 159 days. However, the recent acceleration in sales activity and the record-breaking townhome transaction suggest momentum is building as we move into ski season.

BASALT

Single Family Homes:

Basalt's single-family home market is showing signs of strengthening as we head into winter. Inventory has tightened and the market has maintained strong momentum for several consecutive weeks. With the market firmly in the seller's zone, prices have recently resumed their upward trajectory—a notable shift after a period of adjustment. October 2025 saw new listings drop 50% compared to October 2024, though year-to-date figures show only a modest 2% decline (52 properties in 2025 versus 53 in 2024). This suggests the October slowdown may be seasonal rather than indicative of a broader trend. Year-to-date metrics reveal a market in transition: sold listings are down more than 14%, declining from 28 to 24 transactions, while the median sales price has decreased 12% to $2,162,500. Days on market have increased more than 40% to 191 days, reflecting the more deliberate pace buyers have taken throughout much of the year. However, the recent tightening of inventory and the shift into seller-favorable conditions suggest the market is finding its footing. Basalt's proximity to Aspen and its relative value proposition continue to attract discerning buyers seeking mountain lifestyle opportunities.

Townhomes & Condos:

October 2025 brought positive signals: new listings declined more than 33% to 8 properties compared to 12 in October 2024, while sold listings surged 50%, increasing from 6 to 9 transactions. Most notably, the median sales price jumped nearly 66% in October to $2,150,000—a significant month-over-month gain that reflects strong buyer demand for quality properties. Year-to-date performance reinforces this upward trajectory, with the median sales price up more than 32% to $1,500,000. While days on market have increased 60% to 209 days, this metric reflects the broader market conditions earlier in the year. The recent acceleration in sales activity and substantial price appreciation suggest that well-positioned properties are finding motivated buyers.

If you're interested in exploring investment opportunities beyond Aspen, I'd be delighted to introduce you to experienced professionals with strong performance histories. I maintain a network of trusted colleagues throughout the United States and internationally whom I can connect you with.

Contact me for all of your real estate needs.

I offer complimentary, no obligation property evaluations.

I'm always eager to share the Roaring Fork Valley's many hidden gems with you and your family or friends.

630 E HYMAN AVE, STE 101, ASPEN, CO 81611. 970.925.8810. © 2025 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY.