“Now the biggest challenge is finding a reasonable buyer and seller.” said one Aspen real estate broker. Another indicated that Aspen’s high-end real estate market is currently being molded by buyers seeking lower prices and sellers willing to offer them.

ASPEN REAL ESTATE — The 1 percent apparently fancy Aspen real estate with steep discounts…That point was punctuated by a trio of property sales combining for $51.75 million in November, marking three of Pitkin County’s 10 most expensive real estate deals for the first 11 months of the year. The same three properties’ original listing prices were a collective $80.9 million.
By Rick Carroll, December, 1 2011, AT

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Photo: Courtesy of Morris & Fyrwald, Sotheby’s International: 379 and 389 Ridge Road, which sold Nov. 22, 2011 for $22.75, Red Mountain, Aspen, CO

(See Tim Estin’s Nov 27 – Dec 4, 2011 blog post for more info on this sale.)