“In his Aug. 11 newsletter, Sothebys real estate broker Tim Estin noted the emphasis on high-dollar sales this year in some of Aspen’s most coveted areas for home buyers. He theorized that residences closer to downtown are in more demand because the City Council’s overhaul of its land-use code — which took effect in March — banned new residential development in the core. “The Aspen market is bifurcated: there’s inside the roundabout and there’s outside,” Estin wrote. “Aspen’s most coveted neighborhoods — Central Core, West End and Red Mountain — are experiencing robust sales at record prices. But it’s a different world outside the roundabout. There is a significant discrepancy in what buyers are willing to pay inside versus outside. It’s hard, if not impossible, to recall in the past 40 to 50 years such a significant separation, or divergence, because there has always been an Aspen buyer who sought being ‘further out’ of Aspen’s downtown. The point of coming to Aspen used to be to get away from it all. Not anymore.”

By Rick Carroll, Aug 31, 2017 Aspen Times

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