(Photo: Dovigi purchased actor Jack Nicholson’s former West End Aspen home.) In Aspen, where Patrick Dovigi has traded around $600 million worth of real estate since 2020, he is among a handful of ultrahigh-net-worth individuals contributing to a seismic shift in real-estate values. In the past five years, he has bought and sold 10 properties in Aspen for more than $30 million each—six of them for over $50 million. …In a town where a $25 million sale used to be front-page news, Dovigi has helped normalize closings north of $50 million. He benefited from the huge upswing that began as wealthy buyers from major cities fled to the mountain town for more seclusion during Covid. During the first quarter of 2025, the median single-family home sale price was $17.3 million, up 82% from $9.5 million during the first period of 2021, according to the Estin Report by broker Tim Estin of Aspen Snowmass Sotheby’s International Realty….Dovigi says Aspen’s real-estate values directly correlate to the size of the downtown area, which is just 1 square mile, as well as building restrictions that limit new development…Often, he said, buyers don’t want to sweat the details of construction and “have more money than time.”
 07/31/25 By EB Solomont and Katherine Clarke, WSJ  Link to article