If you’ve been watching Aspen real estate headlines lately, you’ve probably seen phrases like low inventory, tight market, or limited options. All true — but not always helpful. Let’s break down what Aspen inventory actually looks like right now, what’s available by price point, and how today’s market compares to this time last year.
Because in Aspen, inventory isn’t just about quantity — it’s about quality, location, and timing.
The Big Picture: Still a Low-Inventory Market
Aspen has always been a supply-constrained market. Strict zoning, limited buildable land, and a strong second-home buyer base mean inventory rarely swings dramatically, even when national markets cool.
Right now, active listings are modestly higher than this time last year — but still well below what most buyers would consider a “balanced” market. The increase has brought more choice, not downward pressure across the board.
Translation: buyers have options, but well-priced homes in prime locations are still moving.
Active Listings by Price Point
Here’s how current Aspen inventory generally breaks down:
$5M and Under
This remains the most competitive segment of the market.
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Inventory is extremely limited
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Most listings are condos, townhomes, or smaller single-family homes on the outskirts that need work
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Turnkey properties tend to sell quickly, often with multiple interested parties
If you see something compelling in this range, hesitation can cost you the opportunity.
$5M–$10M
This is where buyers are seeing the most relative choice, while still a tight market.
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Mix of condos, duplexes, and single-family homes
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Renovated or well-located properties still outperform the rest
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Buyers have slightly more negotiating room than in years past
This range appeals to both first-time Aspen buyers and second-home owners looking to upgrade.
$10M–$20M
Inventory opens up, but expectations matter.
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Larger homes, legacy properties, and premium locations
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Buyers are selective and value-driven
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Homes that feel dated or overpriced are sitting longer
The difference between a home that sells and one that lingers is often presentation and pricing strategy.
$20M+
This is Aspen’s ultra-luxury tier — and it plays by different rules.
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Limited but steady inventory
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Many opportunities trade quietly or off-market
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Buyers are long-term, lifestyle-focused, and less rate-sensitive
This segment remains resilient, with pricing driven more by rarity than broader market conditions.
How This Compares to Last Year
Compared to the same time last year:
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Active listings are modestly higher, giving buyers more visibility and choice
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Days on market have increased, particularly for properties that need updates or are aspirationally priced
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Well-priced, turnkey homes continue to sell, often faster than expected
What we’re seeing is not a slowdown — it’s a normalization. Sellers who are realistic are getting results. Buyers who are prepared are finding opportunities.
What the Inventory Tells Us
Aspen inventory today tells a clear story:
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This is still a seller-leaning market, but not a frenzy
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Pricing and condition matter more than ever
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Buyers who understand sub-markets and timing have an advantage
Most importantly, inventory here doesn’t surge the way it does in traditional markets. Aspen real estate moves in measured shifts, not dramatic swings.
The Takeaway
If you’re waiting for a flood of Aspen listings or a dramatic price correction, history suggests you’ll be waiting a long time. What is happening right now is a window of opportunity — more options, more transparency, and a chance to be selective without rushing.
Understanding what’s actually available — and how it compares to last year — is key to making smart decisions in this market.
If you’d like a breakdown by neighborhood, property type, or off-market opportunities, that’s where local insight makes all the difference.
Now, more than ever, it’s critical to have a great broker to offer guidance, find the right opportunities (often off-market), and protect you from overpaying. Very few brokers in Aspen truly understand prices and valuations, and are able to confidently guide you through your purchase, ensuring that you get the right property at the best price.
With my 25+ years of experience as a broker and my intimate understanding of value and replacement cost as a GC, I provide my clients with superior guidance.
