This is the first in a series of articles about fractional and private residence club sales and resales in specific destinations. Aspen Colorado is the most chic ski resort in the US and also boasts a thriving summer program that makes it immensely popular year round.
Visitors to Aspen will find a restored historic town, two nearby preserved ghost towns offering a glimpse of the region's rich mining history, excellent trout fishing, and nearly every outdoor activity imaginable. There are four ski mountains that attract world-class skiers in the winter, and numerous cultural events and concerts at the world-renowned Aspen Music Festival in the summer. The town also boasts renowned dining and shopping options.
With this popularity as a vacation destination for the affluent, the town and its surroundings are home to a large selection of fractional and residence club homes. Prospective residents can choose from studios to five-bedroom residences offering owners fraction sizes from 1/20 to 1/3 shares. Prices for Aspen fractional properties range from $10,000 to $2.8 million. We searched through the MLS (multiple listing service) and found over 250 listings for fractional property in the Aspen area. Below is a summary of our findings.
|Property||# Fractions For Sale||Bedrooms||Price Range||Fraction Size|
|Hyatt Grand Aspen||7||1||$99k-$395k||1/12-1/20|
|Hyatt Grand Aspen||23||2||$155k-$1.0m||1/12-1/20|
|Hyatt Grand Aspen||39||3||$179-$1.15m||1/12-1/20|
|Hyatt Grand Aspen||3||4||$179-$1.15m||1/12-1/20|
|Hyatt Grand Aspen||1||5||$2.25m||1/12|
|St. Regis Residence Club||30||2||$165k-$1.1m||1/4-1/12|
|St. Regis Residence Club||17||3||$390k -$1.2m||1/10-1/12|
|Residences at Little Nell||2||3||$1.5m||1/8|
|Residences at Little Nell||4||4||$1.9m-$2.8m||1/8|
|Ritz Carlton Club||17||2||$129k-$240k||1/12|
|Ritz Carlton Club||58||3||$160k-$575k||1/6-1/12|
|The Timbers Club||8||3||$419k -$500k||1/8|
|Roaring Fork Club||8||1||$245k-$315k||1/6|
|Roaring Fork Club||6||3||$499k-$795k||1/4-1/6|
In addition to all the above fractions there are also several single family homes that have fractions for sale and some other residence clubs with just a few fractions for sale.
The enormous variation in pricing in the table above is due to a variety of factors, including the size of fraction or share, the location, fittings and services of the property and whether you are buying a fixed time period or whether your time "floats". Some properties offer fixed weeks - so for instance if you always want to visit during Christmas and New Year you'll have to pay a significant premium. As a specific example the $2.25m being asked at the Hyatt is actually two residences combined to make one 5-bedroom unit, and the owner owns both Christmas and New Years weeks.