Top LocationsAspen Real Estate: Are the High Prices Worth It? by Heba Baker October 18, 2018February 19, 2019 by Heba Baker October 18, 2018February 19, 2019Experts predict Aspen real estate prices and values will only continue to rise, so why do we still say it’s worth it? Continue reading to find out why we recommend investing in Aspen long term rentals.We all know that the Aspen real estate market is one of the most expensive markets in the country. These high prices could very easily scare away first-time investors, but what’s keeping Aspen real estate investors confident? How do investors know that these luxury real estate properties will hold their value?This market was actually ranked third worldwide in luxury real estate appreciation back in 2017. That’s got to be a good indicator for the type of market value Aspen real estate properties hold. But let’s give you Mashvisor’s latest summary for the Aspen housing market 2018 so you can see the numbers for yourself.Aspen Real Estate Market 2018Below is data provided by Mashvisor’s investment property calculator for Aspen real estate. Let’s see how Aspen investment properties have been performing lately.Aspen Real Estate Market: City-Level DataMedian Property Price: $2,102,884Price per Square Foot: $1,359Monthly Traditional Rental Income: $15,913Traditional Cap Rate: 5.09%Traditional Cash on Cash Return: 5.09%Let’s get the obvious out of the way. Yes, that is a very high median property price, but check out that return on investment. Long term rentals in the Aspen real estate market have yet again proven their worth. For those real estate investors looking for profitable luxury real estate investments in the Colorado real estate market, Aspen real estate is where the money’s at.Related: The Colorado Real Estate Market 2018: Interview with Expert Joe MivshekWhy Aspen Real Estate Is So ExpensiveMaking money in real estate depends on the type of deal you get. You need to understand the pay off of value. In real estate investing, everything happens for a reason. Why are Aspen real estate properties priced so high?Decline in InventoryThis decline in inventory has led the Aspen real estate market into a seller’s market and, as demand still continues, the sellers have the upper hand. There is a continued decline in inventory because quite frankly, there isn’t space for any new inventory. What many people don’t realize is that Aspen is completely surrounded by national forest. In fact, 83% of Pitkin County is federal public land and can never be developed. So the bottom line is, demand is high, and inventory is going to stay low. Aspen real estate prices are only going to get higher as demand increases.It’s a Luxury MarketAspen is one of the country’s most high-end ski destinations. This fact is very clearly reflected in Aspen’s luxury real estate market. The average luxury property size itself is even increasing in Aspen- increasing 27.2% to 8,781 square feet. The price per square foot has also increased 9.2% since last year. Although prices are high, sales are still soaring. This luxury market has attracted many A-list homeowners and continues to be a hot market.The City of Aspen is More Than Just a Ski-Resort It’s a known fact that Aspen has world-class skiing on its beautiful four mountains. However, a less known fact is that Aspen actually collects more sales tax dollars in the summer than in the winter. Locals all share the same thought; they originally visited Aspen for the winters but stayed for the summers. The expensive city isn’t pushing them away, it’s drawing them in. This just goes to show that Aspen is more than just a winter vacation spot and people are searching for long term rentals to stay in.Related: How to Make Money by Investing in Luxury PropertiesHow to Find Affordable Aspen Investment PropertiesSo after all this has been said and done, is it actually possible to find affordable investment properties in the Aspen real estate market 2018? Mashvisor is here to tell you yes! Just because the median property price is over 2 million, that doesn’t mean all Aspen real estate is that highly priced.You can still invest in Aspen real estate if your investment property financing can’t cover the high-end luxury properties. The Aspen real estate market is full of surprising investment opportunities. After all, investing in real estate can’t be successful if you don’t find an investment property suited to your goals. If you’re not going after the expensive properties, you don’t have to invest in them in this market just to get a good ROI. By using Mashvisor’s Property Finder Tool, you can find much more affordable Aspen real estate properties in a matter of minutes.Property Finder ToolThis is a digital tool primarily used to find investment properties based on your preferences and search criteria. It’s very simple and straightforward to use. For example, say you’re searching for your next real estate investment in Aspen. Include the city of Aspen in your search and then continue to adjust the search to your preferences. You can modify the search results based on miles (range of search), rental strategy (traditional or Airbnb), property type, and most importantly, your budget. And with Mashvisor’s Property Finder Tool, you can always be sure you’re finding the best investment properties.We utilize a wide range of data comps, analytics, and metrics to provide real estate investors with a list of high return on investment properties for sale. Do you have a free Mashvisor account? Click here to use our Property Finder and find properties in a matter of minutes!Learn More: How to Find Investment Properties Using a Property Finder ToolAspen Real Estate Properties Listed for SaleWe’ve used our Property Finder Tool to locate a couple of affordable top-performing Aspen investment properties currently listed for sale for you to check out. Keep in mind, these are properties categorized as affordable for the Aspen real estate market. So they’re not necessarily “cheap” properties, but they’re as low as you can get for a profitable investment in Aspen.Potential Investment #1Listed Property Price: $495,000Property Type: Condo/Coop706 Square FeetComparable Monthly Traditional Rental Income: $5,593Traditional Cash on Cash Return: 8.41%Traditional Occupancy Rate: 89%Potential Investment #2Listed Property Price: $589,900Property Type: Condo/Coop745 Square FeetComparable Monthly Traditional Rental Income: $8,878Traditional Cash on Cash Return: 11.98%Traditional Occupancy Rate: 89%Potential Investment #3Listed Property Price: $736,000Property Type: Condo/Coop833 Square FeetComparable Monthly Traditional Rental Income: $8,878Traditional Cash on Cash Return: 9.28%Traditional Occupancy Rate: 89%Those were three properties considered on the cheaper end of Aspen real estate. However, if you’re looking for an Aspen investment property on the higher end for some serious cash flow, we’ve picked out just one of the many profitable properties listed on our Property Finder.Potential Investment #4Listed Property Price: $1,875,000Property Type: Single Family Residential2,486 Square Feet$754 per Square FootComparable Monthly Traditional Rental Income: $33,293Traditional Cash on Cash Return: 14.86%Traditional Occupancy Rate: 89%So as you can see, this property is more expensive than the other three, but it has quite the generous monthly rental income to make up for it. In real estate investing, you’ll get what you’re willing to give. For more details on all four properties mentioned and others in the Aspen real estate market, click here.Related: Making Money in Real Estate in Expensive Cities Start Your Investment Property Search! START FREE TRIAL Aspen COCap RateLuxury Real EstateProperty FinderProperty PricesTraditional 0FacebookTwitterGoogle +PinterestLinkedin Heba BakerHeba is Content Writer at Mashvisor with a BA in Business Administration. Most of all, she enjoys writing about the constantly changing markets in the US real estate industry. If not writing, Heba is exploring and learning. Previous Post Lead Generation Profiles – A Great Way for Acquiring Free Leads Next Post Dallas Real Estate Market: The Best Place to Invest for 2019 Related Posts Top Cities for Millennial Home Buyers in 2019 Top 10 Cities for Buy and Hold Real Estate to Invest in Right Now 10 Best Places to Invest in Real Estate in 2019 The Dos and Don’ts of Investing in the Arizona Housing Market in 2019 Airbnb Dallas 2020: Should You Invest and Where? 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